ArcelorMittal (MT) Rating Reiterated by Jefferies Group

ArcelorMittal (NYSE:MT)‘s stock had its “buy” rating reissued by analysts at Jefferies Group in a research note issued to investors on Tuesday. They currently have a $42.00 price objective on the basic materials company’s stock. Jefferies Group’s target price indicates a potential upside of 17.15% from the stock’s current price.

Other analysts also recently issued research reports about the company. ValuEngine downgraded ArcelorMittal from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, September 26th. Cowen cut ArcelorMittal from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $32.00 to $27.00 in a report on Friday, September 22nd. Zacks Investment Research cut ArcelorMittal from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 22nd. Goldman Sachs Group reaffirmed a “buy” rating on shares of ArcelorMittal in a report on Friday, November 17th. Finally, Deutsche Bank reaffirmed a “buy” rating on shares of ArcelorMittal in a report on Friday, November 17th. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. ArcelorMittal has an average rating of “Buy” and a consensus target price of $35.39.

Shares of ArcelorMittal (NYSE:MT) opened at $35.85 on Tuesday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.44 and a current ratio of 1.21. The firm has a market capitalization of $36,660.00, a PE ratio of 9.34, a price-to-earnings-growth ratio of 0.95 and a beta of 2.21. ArcelorMittal has a one year low of $19.59 and a one year high of $35.94.

ArcelorMittal (NYSE:MT) last issued its earnings results on Friday, November 10th. The basic materials company reported $1.18 EPS for the quarter, topping analysts’ consensus estimates of $0.86 by $0.32. ArcelorMittal had a return on equity of 11.57% and a net margin of 6.04%. The firm had revenue of $17.64 billion for the quarter, compared to the consensus estimate of $17.08 billion. During the same quarter in the prior year, the business earned $0.22 earnings per share. The company’s revenue was up 21.5% compared to the same quarter last year. equities research analysts forecast that ArcelorMittal will post 3.89 earnings per share for the current year.

Several institutional investors have recently made changes to their positions in the business. Quadrant Capital Group LLC increased its holdings in shares of ArcelorMittal by 24.9% in the second quarter. Quadrant Capital Group LLC now owns 7,412 shares of the basic materials company’s stock valued at $157,000 after purchasing an additional 1,479 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of ArcelorMittal by 6.6% in the third quarter. Bank of New York Mellon Corp now owns 50,354 shares of the basic materials company’s stock valued at $1,297,000 after purchasing an additional 3,120 shares during the last quarter. Envestnet Asset Management Inc. increased its holdings in shares of ArcelorMittal by 9.4% in the third quarter. Envestnet Asset Management Inc. now owns 53,969 shares of the basic materials company’s stock valued at $1,390,000 after purchasing an additional 4,616 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of ArcelorMittal by 2.4% in the third quarter. JPMorgan Chase & Co. now owns 195,759 shares of the basic materials company’s stock valued at $4,988,000 after purchasing an additional 4,668 shares during the last quarter. Finally, Jennison Associates LLC increased its holdings in shares of ArcelorMittal by 37.2% in the third quarter. Jennison Associates LLC now owns 22,400 shares of the basic materials company’s stock valued at $577,000 after purchasing an additional 6,073 shares during the last quarter. 4.11% of the stock is owned by institutional investors and hedge funds.

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About ArcelorMittal

ArcelorMittal SA (ArcelorMittal) is a holding company. The Company, together with its subsidiaries, owns and operates steel manufacturing and mining facilities in Europe, North and South America, Asia and Africa. ArcelorMittal operates through five segments, which include NAFTA; Europe; Brazil; Africa and Commonwealth of Independent States (ACIS), and Mining.

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