Posted by admin on Jul 18th, 2022

ArcelorMittal S.A. (NYSE:MT – Get Rating) has received an average rating of “Moderate Buy” from the eleven analysts that are currently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, two have given a hold recommendation, six have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $44.02.

Several brokerages have recently weighed in on MT. StockNews.com upgraded ArcelorMittal from a “buy” rating to a “strong-buy” rating in a report on Tuesday, May 17th. JPMorgan Chase & Co. cut ArcelorMittal from an “overweight” rating to a “neutral” rating in a report on Wednesday, June 22nd. Deutsche Bank Aktiengesellschaft cut their target price on shares of ArcelorMittal from $53.00 to $39.00 and set a “buy” rating for the company in a research note on Thursday, July 7th. Finally, Morgan Stanley raised their target price on shares of ArcelorMittal from €46.00 ($46.00) to €46.10 ($46.10) and gave the company an “overweight” rating in a research note on Thursday, June 23rd.

Shares of NYSE MT opened at $21.82 on Monday. The stock has a market capitalization of $20.46 billion, a price-to-earnings ratio of 1.38 and a beta of 2.00. The business has a 50-day moving average of $27.01 and a 200-day moving average of $30.08. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.55 and a quick ratio of 0.71. ArcelorMittal has a fifty-two week low of $20.86 and a fifty-two week high of $37.87.

ArcelorMittal (NYSE:MT – Get Rating) last announced its quarterly earnings data on Thursday, May 5th. The basic materials company reported $4.27 earnings per share for the quarter, beating the consensus estimate of $3.25 by $1.02. The company had revenue of $21.84 billion during the quarter, compared to analysts’ expectations of $21.11 billion. ArcelorMittal had a return on equity of 32.88% and a net margin of 20.43%. As a group, sell-side analysts predict that ArcelorMittal will post 11.83 earnings per share for the current fiscal year.

Several hedge funds have recently bought and sold shares of the stock. BNP Paribas Arbitrage SA lifted its position in ArcelorMittal by 430.5% during the first quarter. BNP Paribas Arbitrage SA now owns 7,178 shares of the basic materials company’s stock worth $230,000 after acquiring an additional 5,825 shares during the last quarter. Golden State Equity Partners acquired a new stake in ArcelorMittal during the first quarter worth approximately $314,000. Guggenheim Capital LLC lifted its position in ArcelorMittal by 41.8% during the first quarter. Guggenheim Capital LLC now owns 26,856 shares of the basic materials company’s stock worth $860,000 after acquiring an additional 7,923 shares during the last quarter. Highline Capital Management L.P. acquired a new stake in ArcelorMittal during the first quarter worth approximately $3,349,000. Finally, Goldman Sachs Group Inc. lifted its position in ArcelorMittal by 9.1% during the first quarter. Goldman Sachs Group Inc. now owns 856,592 shares of the basic materials company’s stock worth $27,420,000 after acquiring an additional 71,185 shares during the last quarter. 41.79% of the stock is currently owned by institutional investors and hedge funds.

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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