ArcelorMittal (MT) Earns Buy Rating from Goldman Sachs Group, Inc. (The)
A number of other research analysts have also issued reports on MT. ValuEngine lowered ArcelorMittal from a strong-buy rating to a buy rating in a report on Tuesday, September 26th. Zacks Investment Research upgraded ArcelorMittal from a hold rating to a strong-buy rating and set a $29.00 target price for the company in a report on Tuesday, September 26th. Cowen and Company lifted their target price on ArcelorMittal from $27.00 to $32.00 and gave the company a market perform rating in a report on Monday, November 13th. BidaskClub lowered ArcelorMittal from a strong-buy rating to a buy rating in a report on Tuesday, July 25th. Finally, Deutsche Bank AG reiterated a buy rating on shares of ArcelorMittal in a report on Thursday, August 17th. One analyst has rated the stock with a sell rating, three have given a hold rating and twelve have assigned a buy rating to the company. ArcelorMittal presently has an average rating of Buy and a consensus target price of $33.55.
Shares of ArcelorMittal (MT) opened at $28.30 on Friday. ArcelorMittal has a one year low of $19.59 and a one year high of $30.50. The company has a quick ratio of 0.44, a current ratio of 1.21 and a debt-to-equity ratio of 0.24. The firm has a market capitalization of $28,760.00, a price-to-earnings ratio of 7.03, a PEG ratio of 0.66 and a beta of 2.18.
ArcelorMittal (NYSE:MT) last issued its quarterly earnings data on Friday, November 10th. The basic materials company reported $1.18 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.86 by $0.32. The business had revenue of $17.64 billion during the quarter, compared to analysts’ expectations of $17.08 billion. ArcelorMittal had a return on equity of 11.57% and a net margin of 6.04%. The company’s revenue was up 21.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.22 earnings per share. sell-side analysts predict that ArcelorMittal will post 3.76 EPS for the current fiscal year.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Quadrant Capital Group LLC lifted its holdings in ArcelorMittal by 24.9% during the 2nd quarter. Quadrant Capital Group LLC now owns 7,412 shares of the basic materials company’s stock worth $157,000 after buying an additional 1,479 shares during the last quarter. Rathbone Brothers plc purchased a new stake in ArcelorMittal during the 3rd quarter worth about $202,000. Campbell & CO Investment Adviser LLC acquired a new stake in shares of ArcelorMittal during the third quarter worth about $228,000. SG Americas Securities LLC acquired a new stake in shares of ArcelorMittal during the third quarter worth about $229,000. Finally, Sawtooth Solutions LLC acquired a new stake in shares of ArcelorMittal during the second quarter worth about $206,000. 4.40% of the stock is owned by institutional investors.
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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