ArcelorMittal (NYSE:MT) was upgraded by equities research analysts at UBS Group from a “sell” rating to a “neutral” rating in a note issued to investors on Friday, The Fly reports.
A number of other brokerages also recently weighed in on MT. ValuEngine raised shares of ArcelorMittal from a “sell” rating to a “hold” rating in a report on Thursday, August 2nd. Credit Suisse Group reissued a “buy” rating on shares of ArcelorMittal in a report on Wednesday, August 8th. Zacks Investment Research downgraded shares of ArcelorMittal from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 4th. Jefferies Financial Group reissued a “buy” rating on shares of ArcelorMittal in a report on Monday, September 17th. Finally, Citigroup reissued a “buy” rating on shares of ArcelorMittal in a report on Thursday, July 12th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have assigned a buy rating to the company’s stock. ArcelorMittal presently has a consensus rating of “Buy” and a consensus price target of $37.00.
NYSE MT opened at $25.39 on Friday. ArcelorMittal has a 1 year low of $23.80 and a 1 year high of $37.50. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.38 and a quick ratio of 0.60. The firm has a market capitalization of $26.32 billion, a PE ratio of 4.75, a PEG ratio of 2.68 and a beta of 2.28.
ArcelorMittal (NYSE:MT) last posted its earnings results on Thursday, November 1st. The basic materials company reported $1.27 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.38 by ($0.11). The firm had revenue of $18.52 billion during the quarter, compared to the consensus estimate of $19.33 billion. ArcelorMittal had a return on equity of 12.59% and a net margin of 6.62%. The business’s revenue was up 5.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.18 EPS. Analysts forecast that ArcelorMittal will post 5.24 earnings per share for the current fiscal year.
Several large investors have recently modified their holdings of the stock. Benjamin F. Edwards & Company Inc. purchased a new stake in ArcelorMittal during the second quarter valued at about $123,000. Canandaigua National Bank & Trust Co. purchased a new stake in ArcelorMittal during the third quarter valued at about $212,000. LPL Financial LLC lifted its holdings in ArcelorMittal by 23.4% during the first quarter. LPL Financial LLC now owns 8,501 shares of the basic materials company’s stock valued at $270,000 after purchasing an additional 1,610 shares during the last quarter. Regentatlantic Capital LLC purchased a new stake in ArcelorMittal during the third quarter valued at about $279,000. Finally, Greenleaf Trust lifted its holdings in ArcelorMittal by 18.9% during the second quarter. Greenleaf Trust now owns 9,882 shares of the basic materials company’s stock valued at $284,000 after purchasing an additional 1,572 shares during the last quarter. 3.35% of the stock is currently owned by 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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