Deutsche Bank AG reissued their buy rating on shares of ArcelorMittal (NYSE:MT) in a research note issued to investors on Thursday morning.

Other equities analysts have also issued research reports about the company. UBS AG upgraded ArcelorMittal from a sell rating to a neutral rating in a research note on Tuesday, May 23rd. BidaskClub upgraded ArcelorMittal from a sell rating to a hold rating in a research note on Saturday, June 24th. Cowen and Company reiterated a buy rating and issued a $32.00 target price on shares of ArcelorMittal in a research note on Wednesday, July 19th. Jefferies Group LLC reiterated a buy rating on shares of ArcelorMittal in a research note on Friday, June 30th. Finally, SBG Securities lowered ArcelorMittal from a buy rating to a hold rating in a research note on Sunday, July 30th. One analyst has rated the stock with a sell rating, three have issued a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the stock. The stock presently has an average rating of Buy and an average price target of $29.72.

Shares of ArcelorMittal (NYSE:MT) traded up 2.08% during trading on Thursday, reaching $25.97. 4,117,322 shares of the company were exchanged. The firm has a market capitalization of $26.49 billion, a P/E ratio of 8.17 and a beta of 2.09. The firm’s 50 day moving average is $25.33 and its 200 day moving average is $24.20. ArcelorMittal has a 1-year low of $16.14 and a 1-year high of $28.11.

ArcelorMittal (NYSE:MT) last posted its earnings results on Thursday, July 27th. The basic materials company reported $1.33 earnings per share (EPS) for the quarter, beating the 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 company had revenue of $17.24 billion for the quarter, compared to analyst estimates of $16.88 billion. During the same quarter in the previous year, the firm earned $0.38 earnings per share. The firm’s quarterly revenue was up 17.0% compared to the same quarter last year. On average, equities analysts anticipate that ArcelorMittal will post $3.07 EPS for the current fiscal year.

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Several hedge funds have recently bought and sold shares of the stock. Cetera Investment Advisers acquired a new stake in ArcelorMittal during the second quarter worth approximately $2,165,000. Banco BTG Pactual S.A. purchased a new stake in shares of ArcelorMittal during the second quarter valued at approximately $1,130,000. Quadrant Capital Group LLC boosted its stake in shares of ArcelorMittal by 24.9% in the second quarter. Quadrant Capital Group LLC now owns 7,412 shares of the basic materials company’s stock valued at $157,000 after buying an additional 1,479 shares during the last quarter. Alpine Global Management LLC purchased a new stake in shares of ArcelorMittal during the second quarter valued at approximately $568,000. Finally, State Street Corp purchased a new stake in shares of ArcelorMittal during the second quarter valued at approximately $8,658,000. Institutional investors and hedge funds own 9.34% of the company’s stock.

About ArcelorMittal

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.

Analyst Recommendations for ArcelorMittal (NYSE:MT)

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