ArcelorMittal (MT) Upgraded at BidaskClub
BidaskClub upgraded shares of ArcelorMittal (NYSE:MT) from a hold rating to a buy rating in a research report sent to investors on Thursday, July 6th.
A number of other research firms have also commented on MT. ValuEngine lowered ArcelorMittal from a buy rating to a hold rating in a report on Tuesday, May 23rd. Macquarie raised ArcelorMittal from a neutral rating to an outperform rating in a report on Thursday, May 25th. TheStreet raised ArcelorMittal from a c rating to a b- rating in a report on Monday, May 15th. Bank of America Corporation lowered ArcelorMittal from a buy rating to an underperform rating in a report on Tuesday, June 6th. Finally, Jefferies Group LLC reissued a buy rating and issued a $30.00 target price on shares of ArcelorMittal in a report on Tuesday, May 30th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the company. ArcelorMittal has a consensus rating of Buy and an average target price of $26.60.
ArcelorMittal (NYSE:MT) traded down 0.12% during midday trading on Thursday, hitting $25.03. The stock had a trading volume of 4,919,806 shares. The stock’s 50-day moving average is $21.60 and its 200-day moving average is $23.74. ArcelorMittal has a 1-year low of $15.99 and a 1-year high of $28.11. The stock has a market capitalization of $25.58 billion, a PE ratio of 8.30 and a beta of 2.06.
ArcelorMittal (NYSE:MT) last posted its earnings results on Friday, May 12th. The basic materials company reported $0.99 EPS for the quarter, topping the Zacks’ consensus estimate of $0.81 by $0.18. The business had revenue of $16.09 billion during the quarter, compared to analyst estimates of $16.81 billion. ArcelorMittal had a return on equity of 10.08% and a net margin of 5.38%. The company’s quarterly revenue was up 20.1% compared to the same quarter last year. During the same quarter last year, the company earned ($0.69) EPS. On average, equities research analysts anticipate that ArcelorMittal will post $2.95 EPS for the current fiscal year.
Hedge funds have recently added to or reduced their stakes in the stock. Integrated Investment Consultants LLC bought a new stake in ArcelorMittal during the second quarter valued at about $111,000. UBS Oconnor LLC raised its stake in ArcelorMittal by 169.8% in the first quarter. UBS Oconnor LLC now owns 915,229 shares of the basic materials company’s stock valued at $7,642,000 after buying an additional 576,045 shares in the last quarter. Jacobi Capital Management LLC bought a new stake in ArcelorMittal during the first quarter valued at about $127,000. FNY Partners Fund LP raised its stake in ArcelorMittal by 32.8% in the first quarter. FNY Partners Fund LP now owns 33,209 shares of the basic materials company’s stock valued at $277,000 after buying an additional 8,209 shares in the last quarter. Finally, Credit Suisse AG raised its stake in ArcelorMittal by 2,724.4% in the first quarter. Credit Suisse AG now owns 4,540,212 shares of the basic materials company’s stock valued at $37,910,000 after buying an additional 4,379,463 shares in the last quarter. 9.60% of the stock is owned by institutional investors and hedge funds.
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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