Posted by admin on May 7th, 2022

ArcelorMittal (NYSE:MT – Get Rating) had its price objective lifted by Deutsche Bank Aktiengesellschaft from €48.00 ($50.53) to €49.00 ($51.58) in a research report report published on Friday morning, The Fly reports.

A number of other research firms have also recently weighed in on MT. StockNews.com started coverage on ArcelorMittal in a research report on Thursday, March 31st. They issued a strong-buy rating for the company. JPMorgan Chase & Co. raised their target price on ArcelorMittal from €43.00 ($45.26) to €48.00 ($50.53) in a research note on Thursday, April 28th. Credit Suisse Group raised their target price on ArcelorMittal from $42.00 to $50.00 in a research note on Tuesday, February 22nd. AlphaValue upgraded ArcelorMittal to a reduce rating in a research note on Tuesday, February 15th. Finally, The Goldman Sachs Group lowered ArcelorMittal from a buy rating to a neutral rating in a research note on Wednesday, January 26th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of Buy and a consensus target price of $42.41.

NYSE MT traded up $0.34 during midday trading on Friday, hitting $27.87. 7,663,763 shares of the company traded hands, compared to its average volume of 3,573,715. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.45 and a quick ratio of 0.62. The company has a market cap of $26.14 billion, a PE ratio of 1.76 and a beta of 1.92. The company’s 50-day simple moving average is $31.25 and its 200-day simple moving average is $31.53. ArcelorMittal has a 52 week low of $26.59 and a 52 week high of $37.87.

ArcelorMittal (NYSE:MT – Get Rating) last posted its quarterly earnings data on Thursday, February 10th. The basic materials company reported $3.71 earnings per share for the quarter, topping analysts’ consensus estimates of $3.39 by $0.32. The firm had revenue of $20.81 billion during the quarter, compared to analysts’ expectations of $19.98 billion. ArcelorMittal had a return on equity of 31.46% and a net margin of 19.53%. The business’s quarterly revenue was up 46.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.18 EPS. On average, research analysts predict that ArcelorMittal will post 11.93 earnings per share for the current year.

The business also recently announced an annual dividend, which will be paid on Friday, June 10th. Stockholders of record on Monday, May 16th will be issued a dividend of $0.38 per share. This is a boost from ArcelorMittal’s previous annual dividend of $0.30. This represents a dividend yield of 1.8%. The ex-dividend date of this dividend is Friday, May 13th. ArcelorMittal’s payout ratio is currently 1.58%.

Several institutional investors have recently modified their holdings of MT. GQG Partners LLC raised its position in shares of ArcelorMittal by 13.1% during the 3rd quarter. GQG Partners LLC now owns 26,869,976 shares of the basic materials company’s stock valued at $810,380,000 after buying an additional 3,115,423 shares during the period. Morgan Stanley raised its position in shares of ArcelorMittal by 98.0% during the 3rd quarter. Morgan Stanley now owns 3,205,048 shares of the basic materials company’s stock valued at $96,665,000 after buying an additional 1,586,116 shares during the period. Dimensional Fund Advisors LP raised its position in shares of ArcelorMittal by 16.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,691,160 shares of the basic materials company’s stock valued at $85,659,000 after buying an additional 379,648 shares during the period. BlackRock Inc. raised its position in shares of ArcelorMittal by 54.9% during the 4th quarter. BlackRock Inc. now owns 1,887,999 shares of the basic materials company’s stock valued at $60,095,000 after buying an additional 668,876 shares during the period. Finally, Bank of Montreal Can raised its position in shares of ArcelorMittal by 212.5% during the 4th quarter. Bank of Montreal Can now owns 1,861,147 shares of the basic materials company’s stock valued at $59,091,000 after buying an additional 1,265,669 shares during the period. 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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