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ArcelorMittal (NYSE:MT - Get Rating) had its price objective reduced by analysts at Deutsche Bank Aktiengesellschaft from $53.00 to $39.00 in a research report issued to clients and investors on Thursday, The Fly reports. Deutsche Bank Aktiengesellschaft's price objective would indicate a potential upside of 81.31% from the stock's current price.
Other equities analysts have also recently issued research reports about the company. Morgan Stanley upped their price target on ArcelorMittal from €46.00 ($47.92) to €46.10 ($48.02) and gave the company an "overweight" rating in a report on Thursday, June 23rd. JPMorgan Chase & Co. lowered ArcelorMittal from an "overweight" rating to a "neutral" rating in a research report on Wednesday, June 22nd. Finally, StockNews.com upgraded ArcelorMittal from a "buy" rating to a "strong-buy" rating in a research report on Tuesday, May 17th. One equities research analyst has rated the stock with a sell rating, two have given 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 presently has a consensus rating of "Moderate Buy" and a consensus target price of $42.71.
NYSE MT opened at $21.51 on Thursday. ArcelorMittal has a twelve month low of $20.86 and a twelve month 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 stock has a market capitalization of $20.17 billion, a PE ratio of 1.36 and a beta of 2.00. The stock has a 50-day simple moving average of $27.99 and a 200 day simple moving average of $30.61.
ArcelorMittal (NYSE:MT - Get Rating) last posted its quarterly earnings data on Thursday, May 5th. The basic materials company reported $4.27 earnings per share for the quarter, topping the consensus estimate of $3.25 by $1.02. The business 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, equities research analysts forecast that ArcelorMittal will post 12.15 EPS for the current fiscal year.
A number of institutional investors have recently modified their holdings of MT. Raymond James & Associates raised its stake in shares of ArcelorMittal by 5.6% in the 4th quarter. Raymond James & Associates now owns 56,978 shares of the basic materials company's stock valued at $1,814,000 after purchasing an additional 3,044 shares during the period. Wexford Capital LP acquired a new stake in shares of ArcelorMittal in the 4th quarter valued at about $2,139,000. Signaturefd LLC raised its stake in shares of ArcelorMittal by 83.8% in the 4th quarter. Signaturefd LLC now owns 8,223 shares of the basic materials company's stock valued at $262,000 after purchasing an additional 3,748 shares during the period. Eagle Asset Management Inc. acquired a new stake in shares of ArcelorMittal in the 4th quarter valued at about $605,000. Finally, Myriad Asset Management Ltd. raised its stake in shares of ArcelorMittal by 87.5% in the 4th quarter. Myriad Asset Management Ltd. now owns 218,301 shares of the basic materials company's stock valued at $6,949,000 after purchasing an additional 101,849 shares during the period. 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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