ArcelorMittal (MT) Upgraded by Bank of America to Buy

ArcelorMittal (NYSE:MT) was upgraded by equities researchers at Bank of America from a “neutral” rating to a “buy” rating in a report issued on Tuesday.

Several other analysts also recently commented on MT. Goldman Sachs Group reissued a “buy” rating on shares of ArcelorMittal in a research report on Monday. ValuEngine downgraded shares of ArcelorMittal from a “strong-buy” rating to a “buy” rating in a research report on Thursday, November 9th. Cowen upped their price objective on shares of ArcelorMittal from $27.00 to $32.00 and gave the stock a “market perform” rating in a report on Monday, November 13th. Zacks Investment Research downgraded shares of ArcelorMittal from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 22nd. Finally, JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of ArcelorMittal in a report on Friday, January 26th. Two investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $36.89.

Shares of ArcelorMittal (NYSE:MT) opened at $36.48 on Tuesday. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.25 and a quick ratio of 0.41. The company has a market cap of $37,158.82, a P/E ratio of 8.16, a price-to-earnings-growth ratio of 0.74 and a beta of 2.33. ArcelorMittal has a 1 year low of $19.59 and a 1 year high of $37.50.

ArcelorMittal (NYSE:MT) last posted its earnings results on Wednesday, January 31st. The basic materials company reported $1.01 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.80 by $0.21. The company had revenue of $17.71 billion during the quarter, compared to the consensus estimate of $18.34 billion. ArcelorMittal had a net margin of 6.65% and a return on equity of 12.03%. During the same period in the previous year, the firm posted $0.39 earnings per share. sell-side analysts predict that ArcelorMittal will post 3.69 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently bought and sold shares of MT. Icon Wealth Partners LLC bought a new stake in shares of ArcelorMittal during the 4th quarter worth $110,000. Premia Global Advisors LLC bought a new stake in shares of ArcelorMittal during the 4th quarter worth $143,000. FNY Partners Fund LP acquired a new position in ArcelorMittal during the 4th quarter valued at $161,000. Financial Gravity Companies Inc. acquired a new position in ArcelorMittal during the 4th quarter valued at $179,000. Finally, Rathbone Brothers plc acquired a new position in ArcelorMittal during the 3rd quarter valued at $202,000. 4.79% of the stock is owned by institutional investors and hedge funds.

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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.

Analyst Recommendations for ArcelorMittal (NYSE:MT)

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