Posted by admin on May 29th, 2022

ArcelorMittal S.A. (NYSE:MT – Get Rating) has earned an average rating of “Buy” from the thirteen analysts that are covering the firm, MarketBeat reports. One analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, five have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $44.00.

Several equities analysts have commented on the company. JPMorgan Chase & Co. increased their price target on ArcelorMittal from €43.00 ($45.74) to €48.00 ($51.06) in a report on Thursday, April 28th. StockNews.com upgraded ArcelorMittal from a “buy” rating to a “strong-buy” rating in a report on Tuesday, May 17th. Credit Suisse Group increased their price target on ArcelorMittal from $42.00 to $50.00 in a report on Tuesday, February 22nd. Zacks Investment Research raised ArcelorMittal from a “hold” rating to a “strong-buy” rating and set a $32.00 price objective for the company in a research report on Wednesday, May 11th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on ArcelorMittal from €48.00 ($51.06) to €49.00 ($52.13) in a research report on Friday, May 6th.

A number of hedge funds have recently modified their holdings of MT. OLD Mission Capital LLC bought a new position in ArcelorMittal in the third quarter worth $1,311,000. Morgan Stanley lifted its position in ArcelorMittal by 29.8% in the second quarter. Morgan Stanley now owns 1,618,932 shares of the basic materials company’s stock worth $50,283,000 after purchasing an additional 371,294 shares during the period. BlackRock Inc. raised its stake in ArcelorMittal by 3.3% during the third quarter. BlackRock Inc. now owns 1,219,123 shares of the basic materials company’s stock worth $36,768,000 after acquiring an additional 39,393 shares in the last quarter. Creative Planning acquired a new position in ArcelorMittal during the third quarter worth $233,000. Finally, American Century Companies Inc. raised its stake in ArcelorMittal by 1.8% during the third quarter. American Century Companies Inc. now owns 70,979 shares of the basic materials company’s stock worth $2,141,000 after acquiring an additional 1,250 shares in the last quarter. 41.79% of the stock is owned by hedge funds and other institutional investors.

NYSE:MT opened at $33.15 on Friday. The stock’s 50 day moving average price is $30.79 and its 200 day moving average price is $31.11. ArcelorMittal has a 52 week low of $26.36 and a 52 week high of $37.87. The company has a market capitalization of $31.09 billion, a P/E ratio of 2.10 and a beta of 1.92. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.71 and a current ratio of 1.55.

ArcelorMittal (NYSE:MT – Get Rating) last released its quarterly earnings data on Thursday, May 5th. The basic materials company reported $4.27 EPS for the quarter, topping analysts’ consensus estimates of $3.25 by $1.02. ArcelorMittal had a return on equity of 32.88% and a net margin of 20.43%. The firm had revenue of $21.84 billion for the quarter, compared to the consensus estimate of $21.11 billion. As a group, sell-side analysts forecast that ArcelorMittal will post 13.02 earnings per share for the current fiscal year.

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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