MT has been the topic of several other reports. Bank of America Corporation cut shares of ArcelorMittal from a buy rating to an underperform rating in a research report on Tuesday, June 6th. ValuEngine upgraded shares of ArcelorMittal from a buy rating to a strong-buy rating in a research report on Friday, June 2nd. ING Group upgraded shares of ArcelorMittal from a hold rating to a buy rating in a research report on Friday, July 14th. Zacks Investment Research upgraded shares of ArcelorMittal from a hold rating to a buy rating and set a $26.00 price objective on the stock in a research report on Tuesday, July 11th. Finally, BidaskClub upgraded shares of ArcelorMittal from a buy rating to a strong-buy rating in a research report on Wednesday, July 19th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. The company has an average rating of Buy and a consensus target price of $31.06.
Shares of ArcelorMittal (MT) opened at 25.99 on Monday. ArcelorMittal has a 1-year low of $16.65 and a 1-year high of $28.11. The firm has a market capitalization of $26.51 billion, a P/E ratio of 8.18 and a beta of 2.10. The stock has a 50 day moving average of $26.50 and a 200-day moving average of $24.31.
ArcelorMittal (NYSE:MT) last announced its quarterly earnings results on Thursday, July 27th. The basic materials company reported $1.33 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.78 by $0.55. ArcelorMittal had a return on equity of 10.52% and a net margin of 5.50%. The firm had revenue of $17.24 billion for the quarter, compared to analysts’ expectations of $16.88 billion. During the same period in the prior year, the business posted $0.38 earnings per share. The company’s revenue was up 17.0% on a year-over-year basis. On average, equities analysts expect that ArcelorMittal will post $3.12 earnings per share for the current year.
A number of hedge funds and other institutional investors have recently modified their holdings of MT. Integrated Investment Consultants LLC bought a new position in ArcelorMittal during the second quarter valued at approximately $111,000. Jacobi Capital Management LLC bought a new position in ArcelorMittal during the first quarter valued at approximately $127,000. US Bancorp DE grew its position in ArcelorMittal by 14.2% during the first quarter. US Bancorp DE now owns 15,540 shares of the basic materials company’s stock valued at $129,000 after acquiring an additional 1,934 shares during the last quarter. MAVEN SECURITIES Ltd bought a new position in ArcelorMittal during the first quarter valued at approximately $139,000. Finally, Quadrant Capital Group LLC grew its position 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 acquiring an additional 1,479 shares during the last quarter. Institutional investors and hedge funds own 3.57% of the company’s stock.
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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