ArcelorMittal (NYSE:MT)‘s stock had its “buy” rating reaffirmed by equities research analysts at Credit Suisse Group in a research note issued to investors on Tuesday.
Other equities research analysts also recently issued research reports about the company. TheStreet raised ArcelorMittal from a “c+” rating to a “b” rating in a report on Wednesday, June 6th. ValuEngine downgraded ArcelorMittal from a “strong-buy” rating to a “buy” rating in a report on Wednesday, May 2nd. Jefferies Financial Group reaffirmed a “buy” rating on shares of ArcelorMittal in a report on Wednesday, June 6th. Deutsche Bank reaffirmed a “buy” rating on shares of ArcelorMittal in a report on Monday, June 4th. Finally, JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of ArcelorMittal in a report on Wednesday, March 7th. One analyst has rated the stock with a sell rating, three have given a hold rating and nine have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $36.75.
ArcelorMittal stock opened at $30.57 on Tuesday. ArcelorMittal has a one year low of $21.05 and a one year high of $37.50. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.44 and a current ratio of 1.26. The firm has a market cap of $32.57 billion, a price-to-earnings ratio of 5.72 and a beta of 2.36.
ArcelorMittal (NYSE:MT) last issued its quarterly earnings results on Friday, May 11th. The basic materials company reported $1.17 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.99 by $0.18. ArcelorMittal had a return on equity of 11.85% and a net margin of 6.63%. The company had revenue of $19.19 billion for the quarter, compared to analyst estimates of $19.38 billion. equities research analysts expect that ArcelorMittal will post 4.76 earnings per share for the current fiscal year.
ArcelorMittal declared that its Board of Directors has initiated a share repurchase plan on Tuesday, March 13th that allows the company to repurchase $280.00 million in outstanding shares. This repurchase authorization allows the basic materials company to purchase shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.
Several large investors have recently made changes to their positions in MT. Icon Wealth Partners LLC acquired a new position in shares of ArcelorMittal in the 4th quarter valued at about $110,000. Elkfork Partners LLC bought a new stake in ArcelorMittal in the 4th quarter valued at about $111,000. Premia Global Advisors LLC bought a new stake in ArcelorMittal in the 4th quarter valued at about $143,000. Financial Gravity Companies Inc. bought a new stake in ArcelorMittal in the 4th quarter valued at about $179,000. Finally, Financial Gravity Wealth Inc. bought a new stake in ArcelorMittal in the 1st quarter valued at about $184,000. 4.87% of the stock is currently owned by institutional investors.
ArcelorMittal, together with its subsidiaries, owns and operates steel manufacturing and mining facilities in Europe, North and South America, Asia, and Africa. It operates through NAFTA, Brazil, Europe, ACIS, and Mining segments. The company produces finished and semi-finished steel products with various specifications.
Receive News & Ratings for ArcelorMittal Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ArcelorMittal and related companies with MarketBeat.com's FREE daily email newsletter.