ArcelorMittal (NYSE:MT) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday. The brokerage currently has a $42.00 target price on the basic materials company’s stock. Zacks Investment Research‘s price target would indicate a potential upside of 14.60% from the stock’s current price.
According to Zacks, “ArcelorMittal has outperformed the industry it belongs to over a year. ArcelorMittal should gain from its efforts to reduce debt. It is also making a significant progress in reducing costs and expanding its advanced high strength steel product line under the Action 2020 program. The planned acquisition of Ilva S.p.A. in Italy represents another attractive growth opportunity for the company.”
Other equities analysts have also issued reports about the company. Bank of America raised ArcelorMittal from an “underperform” rating to a “neutral” rating in a report on Wednesday, January 10th. ValuEngine lowered ArcelorMittal from a “strong-buy” rating to a “buy” rating in a report on Tuesday, September 26th. Cowen lowered ArcelorMittal from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $32.00 to $27.00 in a report on Friday, September 22nd. Deutsche Bank reaffirmed a “buy” rating on shares of ArcelorMittal in a report on Friday, November 17th. Finally, Goldman Sachs Group reaffirmed a “buy” rating on shares of ArcelorMittal in a report on Friday, November 17th. Three equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $36.89.
Shares of ArcelorMittal (NYSE MT) traded down $0.02 during midday trading on Tuesday, reaching $36.65. The company’s stock had a trading volume of 2,860,000 shares, compared to its average volume of 3,050,000. ArcelorMittal has a 1-year low of $19.59 and a 1-year high of $37.32. The company has a current ratio of 1.21, a quick ratio of 0.44 and a debt-to-equity ratio of 0.24. The company has a market capitalization of $37,270.00, a price-to-earnings ratio of 9.54, a price-to-earnings-growth ratio of 0.72 and a beta of 2.21.
ArcelorMittal (NYSE:MT) last posted its quarterly earnings results on Friday, November 10th. The basic materials company reported $1.18 EPS for the quarter, topping the Zacks’ consensus estimate 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 during the quarter, compared to analyst estimates of $17.08 billion. During the same period last year, the company earned $0.22 earnings per share. The business’s revenue for the quarter was up 21.5% on a year-over-year basis. equities research analysts anticipate that ArcelorMittal will post 3.99 earnings per share for the current fiscal year.
Large investors have recently bought and sold shares of the stock. Quadrant Capital Group LLC boosted its stake in ArcelorMittal by 24.9% during the second quarter. Quadrant Capital Group LLC now owns 7,412 shares of the basic materials company’s stock valued at $157,000 after buying an additional 1,479 shares during the period. Rathbone Brothers plc bought a new stake in ArcelorMittal during the third quarter valued at $202,000. Campbell & CO Investment Adviser LLC bought a new stake in ArcelorMittal during the third quarter valued at $228,000. SG Americas Securities LLC bought a new stake in ArcelorMittal during the third quarter valued at $229,000. Finally, Advisor Group Inc. boosted its stake in ArcelorMittal by 160.6% during the second quarter. Advisor Group Inc. now owns 10,147 shares of the basic materials company’s stock valued at $230,000 after buying an additional 6,253 shares during the period. 4.11% of the stock is owned by institutional investors.
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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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