Posted by admin on Jun 24th, 2022

ArcelorMittal (NYSE:MT – Get Rating) had its price objective raised by Morgan Stanley from €46.00 ($48.42) to €46.10 ($48.53) in a report released on Thursday, The Fly reports. Morgan Stanley currently has an overweight rating on the basic materials company’s stock.

Other research analysts also recently issued research reports about the stock. StockNews.com raised shares of ArcelorMittal from a buy rating to a strong-buy rating in a research report on Tuesday, May 17th. Deutsche Bank Aktiengesellschaft lifted 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. Finally, JPMorgan Chase & Co. downgraded shares of ArcelorMittal from an overweight rating to a neutral rating in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus target price of $44.14.

Shares of NYSE:MT opened at $23.31 on Thursday. ArcelorMittal has a 12 month low of $22.92 and a 12 month high of $37.87. The company has a quick ratio of 0.71, a current ratio of 1.55 and a debt-to-equity ratio of 0.11. The company’s fifty day simple moving average is $29.50 and its 200 day simple moving average is $31.07. The firm has a market cap of $21.86 billion, a price-to-earnings ratio of 1.47 and a beta of 1.91.

ArcelorMittal (NYSE:MT – Get Rating) last released its earnings results on Thursday, May 5th. The basic materials company reported $4.27 earnings per share for the quarter, beating analysts’ consensus estimates of $3.25 by $1.02. The business had revenue of $21.84 billion during the quarter, compared to the consensus estimate of $21.11 billion. ArcelorMittal had a net margin of 20.43% and a return on equity of 32.88%. Research analysts expect that ArcelorMittal will post 13.21 earnings per share for the current fiscal year.

A number of institutional investors have recently modified their holdings of MT. Captrust Financial Advisors raised its position in shares of ArcelorMittal by 166.1% in the 1st quarter. Captrust Financial Advisors now owns 1,381 shares of the basic materials company’s stock valued at $44,000 after buying an additional 862 shares in the last quarter. Prospera Financial Services Inc acquired a new position in shares of ArcelorMittal in the 1st quarter valued at approximately $45,000. National Bank of Canada FI acquired a new position in shares of ArcelorMittal in the 4th quarter valued at approximately $46,000. Bessemer Group Inc. raised its position in shares of ArcelorMittal by 42.8% in the 4th quarter. Bessemer Group Inc. now owns 2,026 shares of the basic materials company’s stock valued at $64,000 after buying an additional 607 shares in the last quarter. Finally, Elequin Capital LP acquired a new position in shares of ArcelorMittal in the 1st quarter valued at approximately $79,000. Institutional investors and hedge funds own 41.79% of the company’s stock.

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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