ArcelorMittal (MT) Lowered to C+ at TheStreet
Other research analysts also recently issued reports about the company. ValuEngine downgraded ArcelorMittal from a strong-buy rating to a buy rating in a research note on Tuesday, September 26th. BidaskClub downgraded ArcelorMittal from a strong-buy rating to a buy rating in a research note on Tuesday, July 25th. Jefferies Group LLC restated a buy rating and issued a $34.00 price target (up from $31.50) on shares of ArcelorMittal in a research note on Tuesday, July 18th. ING Group upgraded ArcelorMittal from a hold rating to a buy rating in a research note on Friday, July 14th. Finally, Cowen and Company restated a buy rating and issued a $32.00 price target on shares of ArcelorMittal in a research note on Wednesday, July 19th. 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. ArcelorMittal presently has a consensus rating of Buy and a consensus price target of $33.55.
Shares of ArcelorMittal (NYSE MT) traded down $0.12 during trading hours on Friday, hitting $29.02. The company had a trading volume of 3,973,600 shares, compared to its average volume of 5,858,347. The company has a market cap of $29,610.00, a P/E 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 52 week low of $19.59 and a 52 week high of $30.50.
ArcelorMittal (NYSE:MT) last announced its quarterly earnings data on Friday, November 10th. The basic materials company reported $1.18 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.86 by $0.32. The company had revenue of $17.64 billion during the quarter, compared to the consensus estimate of $17.08 billion. ArcelorMittal had a return on equity of 11.94% and a net margin of 6.04%. The firm’s revenue was up 21.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.22 EPS. research analysts predict that ArcelorMittal will post 3.3 EPS for the current year.
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Several institutional investors and hedge funds have recently modified their holdings of MT. Envestnet Asset Management Inc. raised its holdings in ArcelorMittal by 9.4% during the 3rd quarter. Envestnet Asset Management Inc. now owns 53,969 shares of the basic materials company’s stock valued at $1,390,000 after buying an additional 4,616 shares during the period. Dimensional Fund Advisors LP raised its holdings in ArcelorMittal by 32.0% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,341,298 shares of the basic materials company’s stock valued at $60,312,000 after buying an additional 567,841 shares during the period. Campbell & CO Investment Adviser LLC purchased a new stake in ArcelorMittal in the third quarter worth $228,000. JPMorgan Chase & Co. increased its stake in ArcelorMittal by 2.4% in the third quarter. JPMorgan Chase & Co. now owns 195,759 shares of the basic materials company’s stock worth $4,988,000 after purchasing an additional 4,668 shares during the period. Finally, TD Asset Management Inc. increased its stake in ArcelorMittal by 56.9% in the third quarter. TD Asset Management Inc. now owns 42,733 shares of the basic materials company’s stock worth $1,101,000 after purchasing an additional 15,500 shares during the period. 3.62% of the stock is currently 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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