Several other research analysts have also issued reports on MT. ING Group upgraded ArcelorMittal from a hold rating to a buy rating in a report on Friday, July 14th. Jefferies Group LLC reiterated a buy rating and issued a $34.00 price target (up previously from $31.50) on shares of ArcelorMittal in a report on Tuesday, July 18th. BidaskClub upgraded ArcelorMittal from a buy rating to a strong-buy rating in a report on Wednesday, July 19th. Cowen and Company reiterated a buy rating and issued a $32.00 price target on shares of ArcelorMittal in a report on Wednesday, July 19th. Finally, Zacks Investment Research lowered ArcelorMittal from a buy rating to a hold rating in a report on Tuesday, July 25th. One analyst has rated the stock with a sell rating, three have issued a hold rating and thirteen have issued a buy rating to the stock. The stock currently has a consensus rating of Buy and an average price target of $33.55.
Shares of ArcelorMittal (NYSE:MT) traded down $0.12 during trading hours on Friday, reaching $29.02. The company’s stock had a trading volume of 3,973,600 shares, compared to its average volume of 5,858,347. The company has a market capitalization of $29,610.00, a price-to-earnings ratio of 7.32 and a beta of 2.18. The company has a current ratio of 1.23, a quick ratio of 0.42 and a debt-to-equity ratio of 0.28. ArcelorMittal has a 1-year low of $19.59 and a 1-year high of $30.50.
ArcelorMittal (NYSE:MT) last announced its quarterly earnings results on Friday, November 10th. The basic materials company reported $1.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.86 by $0.32. The business had revenue of $17.64 billion for the quarter, compared to analyst estimates of $17.08 billion. ArcelorMittal had a return on equity of 11.94% and a net margin of 6.04%. The company’s quarterly revenue was up 21.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.22 earnings per share. equities research analysts expect that ArcelorMittal will post 3.3 earnings per share for the current year.
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Several hedge funds have recently bought and sold shares of MT. Cambiar Investors LLC bought a new position in shares of ArcelorMittal in the second quarter valued at approximately $114,710,000. TIAA CREF Investment Management LLC bought a new stake in ArcelorMittal during the second quarter worth $13,408,000. Dimensional Fund Advisors LP lifted its holdings in ArcelorMittal by 32.0% during the third quarter. Dimensional Fund Advisors LP now owns 2,341,298 shares of the basic materials company’s stock worth $60,312,000 after acquiring an additional 567,841 shares during the period. State Street Corp bought a new stake in ArcelorMittal during the second quarter worth $8,658,000. Finally, Quantitative Investment Management LLC bought a new stake in ArcelorMittal during the second quarter worth $6,605,000. Institutional investors own 3.62% 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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