Other analysts have also recently issued research reports about the stock. Bank of America cut shares of ArcelorMittal from a buy rating to a neutral rating in a research note on Wednesday, October 18th. JPMorgan Chase & Co. upgraded shares of ArcelorMittal from a neutral rating to an overweight rating in a report on Tuesday, December 12th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $33.00.
ArcelorMittal Trading Down 1.3 %
ArcelorMittal (NYSE:MT – Get Free Report) last issued its quarterly earnings data on Thursday, February 8th. The basic materials company reported ($3.57) earnings per share for the quarter, missing analysts’ consensus estimates of ($2.08) by ($1.49). The firm had revenue of $14.55 billion during the quarter, compared to analyst estimates of $16.39 billion. ArcelorMittal had a return on equity of 8.55% and a net margin of 1.35%. The company’s revenue was down 13.8% on a year-over-year basis. During the same quarter last year, the company posted $1.37 EPS. As a group, equities analysts predict that ArcelorMittal will post 4.08 earnings per share for the current fiscal year.
Institutional Investors Weigh In On ArcelorMittal
A number of hedge funds have recently added to or reduced their stakes in MT. KGH Ltd increased its position in shares of ArcelorMittal by 108.7% in the 2nd quarter. KGH Ltd now owns 431,961 shares of the basic materials company’s stock valued at $11,810,000 after purchasing an additional 225,000 shares during the last quarter. Raymond James & Associates increased its position in shares of ArcelorMittal by 12.1% in the 2nd quarter. Raymond James & Associates now owns 50,841 shares of the basic materials company’s stock valued at $1,390,000 after purchasing an additional 5,505 shares during the last quarter. Quantbot Technologies LP increased its position in shares of ArcelorMittal by 24.4% in the 3rd quarter. Quantbot Technologies LP now owns 102,724 shares of the basic materials company’s stock valued at $2,571,000 after purchasing an additional 20,137 shares during the last quarter. Mutual Advisors LLC purchased a new stake in shares of ArcelorMittal in the 2nd quarter valued at approximately $1,091,000. Finally, Todd Asset Management LLC increased its position in shares of ArcelorMittal by 9.0% in the 3rd quarter. Todd Asset Management LLC now owns 108,800 shares of the basic materials company’s stock valued at $2,723,000 after purchasing an additional 9,000 shares during the last quarter. 4.56% of the stock is currently owned by institutional investors and hedge funds.
ArcelorMittal Company Profile
ArcelorMittal SA, together with its subsidiaries, operates as integrated steel and mining companies in the Americas, Europe, Asia, and Africa. It offers semi-finished flat products, including slabs; finished flat products comprising plates, hot- and cold-rolled coils and sheets, hot-dipped and electro-galvanized coils and sheets, tinplate, and color coated coils and sheets; semi-finished long products, such as blooms and billets; finished long products consisting of bars, wire-rods, structural sections, rails, sheet piles, and wire-products; and seamless and welded pipes and tubes.
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