ArcelorMittal SA (NYSE:MT) has been assigned an average rating of “Buy” from the fifteen ratings firms that are presently covering the stock, MarketBeat reports. Three equities research analysts have rated the stock with a hold recommendation, ten have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $41.00.
Several equities research analysts have recently weighed in on the company. Zacks Investment Research raised ArcelorMittal from a “hold” rating to a “buy” rating and set a $42.00 target price on the stock in a research report on Tuesday, January 16th. JPMorgan Chase & Co. reissued a “buy” rating on shares of ArcelorMittal in a research report on Friday, January 26th. ValuEngine raised ArcelorMittal from a “buy” rating to a “strong-buy” rating in a research report on Friday, February 2nd. Jefferies Group restated a “buy” rating and set a $42.00 price target on shares of ArcelorMittal in a research note on Tuesday, January 9th. Finally, Bank of America upgraded ArcelorMittal from an “underperform” rating to a “neutral” rating in a research note on Wednesday, January 10th.
Hedge funds have recently modified their holdings of the stock. Dimensional Fund Advisors LP raised its holdings in shares of ArcelorMittal by 32.0% in the third quarter. Dimensional Fund Advisors LP now owns 2,341,298 shares of the basic materials company’s stock worth $60,312,000 after acquiring an additional 567,841 shares during the last quarter. Cubist Systematic Strategies LLC grew its position in ArcelorMittal by 206.3% during the third quarter. Cubist Systematic Strategies LLC now owns 43,483 shares of the basic materials company’s stock valued at $1,120,000 after acquiring an additional 29,287 shares during the period. Sei Investments Co. grew its position in ArcelorMittal by 51,870.6% during the third quarter. Sei Investments Co. now owns 26,505 shares of the basic materials company’s stock valued at $682,000 after acquiring an additional 26,454 shares during the period. TD Asset Management Inc. grew its position in ArcelorMittal by 56.9% during the third quarter. TD Asset Management Inc. now owns 42,733 shares of the basic materials company’s stock valued at $1,101,000 after acquiring an additional 15,500 shares during the period. Finally, Cetera Investment Advisers purchased a new stake in ArcelorMittal during the second quarter valued at about $2,165,000. 4.10% of the stock is owned by hedge funds and other institutional investors.
ArcelorMittal (NYSE MT) traded down $0.16 during midday trading on Friday, hitting $34.38. The stock had a trading volume of 1,201,487 shares, compared to its average volume of 3,306,835. The stock has a market cap of $34,001.14, a PE ratio of 7.69, a PEG ratio of 0.68 and a beta of 2.33. The company has a current ratio of 1.25, a quick ratio of 0.41 and a debt-to-equity ratio of 0.25. ArcelorMittal has a fifty-two week low of $19.59 and a fifty-two week high of $37.50.
ArcelorMittal (NYSE:MT) last announced its earnings results on Wednesday, January 31st. The basic materials company reported $1.01 EPS for the quarter, beating analysts’ consensus estimates of $0.80 by $0.21. ArcelorMittal had a return on equity of 12.03% and a net margin of 6.65%. The company had revenue of $17.71 billion during the quarter, compared to analysts’ expectations of $18.34 billion. During the same period last year, the business posted $0.39 EPS. analysts expect that ArcelorMittal will post 3.69 EPS for the current fiscal year.
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ArcelorMittal Company Profile
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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