ValuEngine Downgrades ArcelorMittal (MT) to Buy
ArcelorMittal (NYSE:MT) was downgraded by research analysts at ValuEngine from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Tuesday.
Other equities research analysts have also issued reports about the company. Cowen and Company lowered ArcelorMittal from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $32.00 to $27.00 in a research report on Friday, September 22nd. Jefferies Group LLC restated a “buy” rating on shares of ArcelorMittal in a research report on Monday, September 18th. Deutsche Bank AG restated a “buy” rating on shares of ArcelorMittal in a research report on Thursday, August 17th. Zacks Investment Research lowered ArcelorMittal from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 7th. Finally, SBG Securities lowered ArcelorMittal from a “buy” rating to a “hold” rating in a research report on Sunday, July 30th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $30.77.
ArcelorMittal (NYSE MT) opened at 25.32 on Tuesday. The firm has a 50-day moving average of $26.50 and a 200-day moving average of $24.31. The stock has a market capitalization of $25.83 billion, a price-to-earnings ratio of 7.97 and a beta of 2.10. ArcelorMittal has a 12-month low of $17.58 and a 12-month high of $28.11.
ArcelorMittal (NYSE:MT) last issued its quarterly earnings results on Thursday, July 27th. The basic materials company reported $1.33 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.78 by $0.55. The firm had revenue of $17.24 billion for the quarter, compared to analysts’ expectations of $16.88 billion. ArcelorMittal had a return on equity of 10.52% and a net margin of 5.50%. ArcelorMittal’s revenue was up 17.0% on a year-over-year basis. During the same quarter last year, the business posted $0.38 EPS. Equities research analysts forecast that ArcelorMittal will post $3.12 earnings per share for the current fiscal year.
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Institutional investors have recently made changes to their positions in the company. Marshall Wace North America L.P. acquired a new stake in shares of ArcelorMittal during the 1st quarter valued at about $4,632,000. Morgan Stanley lifted its holdings in shares of ArcelorMittal by 55.5% during the 1st quarter. Morgan Stanley now owns 2,270,841 shares of the basic materials company’s stock valued at $18,961,000 after buying an additional 810,291 shares during the last quarter. Jane Street Group LLC lifted its holdings in shares of ArcelorMittal by 775.6% during the 1st quarter. Jane Street Group LLC now owns 2,127,765 shares of the basic materials company’s stock valued at $17,767,000 after buying an additional 1,884,765 shares during the last quarter. First Trust Advisors LP acquired a new stake in shares of ArcelorMittal during the 1st quarter valued at about $555,000. Finally, Two Sigma Securities LLC acquired a new stake in shares of ArcelorMittal during the 1st quarter valued at about $196,000. 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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