Jefferies Financial Group Reaffirms “Buy” Rating for ArcelorMittal (MT)

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Jefferies Financial Group restated their buy rating on shares of ArcelorMittal (NYSE:MT) in a report published on Monday, September 17th.

MT has been the topic of a number of other reports. ValuEngine cut shares of ArcelorMittal from a hold rating to a sell rating in a research report on Monday, July 2nd. Credit Suisse Group reissued a buy rating on shares of ArcelorMittal in a research report on Tuesday, June 26th. TheStreet raised shares of ArcelorMittal from a c+ rating to a b rating in a research report on Wednesday, June 6th. Deutsche Bank reissued a buy rating on shares of ArcelorMittal in a research report on Monday, June 4th. Finally, UBS Group cut shares of ArcelorMittal from a buy rating to a sell rating in a research report on Thursday, June 7th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and nine have issued a buy rating to the stock. The company has a consensus rating of Buy and a consensus target price of $37.00.

Shares of NYSE:MT traded up $0.48 during trading on Monday, reaching $28.49. The stock had a trading volume of 2,884,049 shares, compared to its average volume of 2,966,868. The company has a current ratio of 1.38, a quick ratio of 0.60 and a debt-to-equity ratio of 0.21. The stock has a market capitalization of $31.47 billion, a P/E ratio of 5.34, a price-to-earnings-growth ratio of 1.15 and a beta of 2.31. ArcelorMittal has a 52 week low of $27.17 and a 52 week high of $37.50.

ArcelorMittal (NYSE:MT) last issued its quarterly earnings results on Wednesday, August 1st. The basic materials company reported $1.83 earnings per share for the quarter, beating analysts’ consensus estimates of $1.55 by $0.28. ArcelorMittal had a net margin of 7.11% and a return on equity of 12.62%. The business had revenue of $20 billion during the quarter, compared to analyst estimates of $20.25 billion. During the same quarter last year, the business posted $1.29 earnings per share. ArcelorMittal’s revenue for the quarter was up 16.0% compared to the same quarter last year. As a group, analysts forecast that ArcelorMittal will post 5.59 EPS for the current fiscal year.

Large investors have recently modified their holdings of the business. Campbell & CO Investment Adviser LLC bought a new stake in ArcelorMittal during the 2nd quarter worth about $305,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in ArcelorMittal during the 2nd quarter worth about $2,730,000. Stevens Capital Management LP bought a new stake in ArcelorMittal during the 2nd quarter worth about $1,296,000. Marshall Wace LLP bought a new stake in ArcelorMittal during the 2nd quarter worth about $13,949,000. Finally, Renaissance Technologies LLC lifted its position in ArcelorMittal by 92.2% during the 2nd quarter. Renaissance Technologies LLC now owns 820,401 shares of the basic materials company’s stock worth $23,815,000 after buying an additional 393,607 shares in the last quarter. 3.38% of the stock is currently owned by hedge funds and other institutional investors.

ArcelorMittal Company Profile

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.

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Analyst Recommendations for ArcelorMittal (NYSE:MT)

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