Posted by admin on Jun 22nd, 2022
ArcelorMittal (NYSE:MT – Get Rating) was downgraded by JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating in a report released on Wednesday, The Fly reports.
Other equities research analysts have also issued research reports about the stock. Deutsche Bank Aktiengesellschaft increased their price objective on shares of ArcelorMittal from €48.00 ($50.53) to €49.00 ($51.58) in a research report on Friday, May 6th. StockNews.com raised shares of ArcelorMittal from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, May 17th. Finally, Credit Suisse Group increased their price objective on shares of ArcelorMittal from $42.00 to $50.00 in a research report on Tuesday, February 22nd. One analyst has rated the stock with a sell rating, two have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $43.82.
Shares of MT stock opened at $25.91 on Wednesday. ArcelorMittal has a one year low of $25.49 and a one year high of $37.87. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.71 and a current ratio of 1.55. The company has a 50 day moving average price of $29.87 and a 200 day moving average price of $31.15. The firm has a market capitalization of $24.30 billion, a price-to-earnings ratio of 1.64 and a beta of 1.91.
ArcelorMittal (NYSE:MT – Get Rating) last issued its quarterly earnings results on Thursday, May 5th. The basic materials company reported $4.27 EPS for the quarter, topping the consensus estimate of $3.25 by $1.02. ArcelorMittal had a net margin of 20.43% and a return on equity of 32.88%. The firm had revenue of $21.84 billion during the quarter, compared to analyst estimates of $21.11 billion. As a group, equities analysts forecast that ArcelorMittal will post 13.21 EPS for the current fiscal year.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in MT. BNP Paribas Arbitrage SA boosted its stake in ArcelorMittal by 82.3% during the 4th quarter. BNP Paribas Arbitrage SA now owns 1,353 shares of the basic materials company’s stock valued at $43,000 after acquiring an additional 611 shares during the last quarter. Captrust Financial Advisors boosted its stake in ArcelorMittal by 166.1% during the 1st quarter. Captrust Financial Advisors now owns 1,381 shares of the basic materials company’s stock valued at $44,000 after acquiring an additional 862 shares during the last quarter. Prospera Financial Services Inc bought a new position in ArcelorMittal during the 1st quarter valued at $45,000. National Bank of Canada FI bought a new position in ArcelorMittal during the 4th quarter valued at $46,000. Finally, Bessemer Group Inc. boosted its stake in ArcelorMittal by 42.8% during the 4th quarter. Bessemer Group Inc. now owns 2,026 shares of the basic materials company’s stock valued at $64,000 after acquiring an additional 607 shares during the last quarter. 41.79% of the stock is owned by institutional investors and hedge funds.
ArcelorMittal Company Profile (Get Rating)
ArcelorMittal SA, together with its subsidiaries, operates as integrated steel and mining companies in Europe, North and South America, Asia, and Africa. Its principal steel products include semi-finished flat products, including slabs; finished flat products comprising plates, hot- and cold-rolled coils and sheets, hot-dipped and electro-galvanized coils and sheets, tinplate, and color coated coils and sheets; semi-finished long products, which includes blooms and billets; finished long products, including bars, wire-rods, structural sections, rails, sheet piles, and wire-products; and seamless and welded pipes and tubes.
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