ArcelorMittal (NYSE:MT) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of ArcelorMittal (NYSE:MTFree Report) from a hold rating to a buy rating in a research note issued to investors on Friday morning.

Several other analysts have also commented on MT. Bank of America lowered shares of ArcelorMittal from a buy rating to a neutral rating in a research note on Wednesday, October 18th. JPMorgan Chase & Co. upgraded shares of ArcelorMittal from a neutral rating to an overweight rating in a research report on Tuesday, December 12th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus price target of $33.00.

View Our Latest Stock Analysis on MT

ArcelorMittal Stock Down 1.3 %

MT stock opened at $28.52 on Friday. ArcelorMittal has a 12 month low of $21.30 and a 12 month high of $32.49. The firm has a market cap of $22.97 billion, a PE ratio of 28.52 and a beta of 1.95. The firm has a 50 day simple moving average of $27.40 and a 200 day simple moving average of $25.72. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.53 and a quick ratio of 0.67.

ArcelorMittal (NYSE:MTGet Free Report) last released its earnings results on Thursday, February 8th. The basic materials company reported ($3.57) EPS for the quarter, missing the consensus estimate of ($2.08) by ($1.49). ArcelorMittal had a net margin of 1.35% and a return on equity of 8.55%. The business had revenue of $14.55 billion for the quarter, compared to analyst estimates of $16.39 billion. During the same period in the prior year, the company earned $1.37 earnings per share. The firm’s revenue for the quarter was down 13.8% on a year-over-year basis. Equities research analysts forecast that ArcelorMittal will post 4.08 earnings per share for the current fiscal year.

Institutional Investors Weigh In On ArcelorMittal

Several hedge funds have recently made changes to their positions in the company. Principal Securities Inc. acquired a new position in ArcelorMittal in the 4th quarter valued at approximately $25,000. Tower Research Capital LLC TRC acquired a new position in ArcelorMittal in the 3rd quarter valued at approximately $28,000. GAMMA Investing LLC acquired a new position in ArcelorMittal in the 4th quarter valued at approximately $30,000. EverSource Wealth Advisors LLC increased its stake in ArcelorMittal by 84.6% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,128 shares of the basic materials company’s stock valued at $32,000 after buying an additional 517 shares during the period. Finally, Blue Trust Inc. increased its stake in ArcelorMittal by 336.3% in the 4th quarter. Blue Trust Inc. now owns 1,309 shares of the basic materials company’s stock valued at $37,000 after buying an additional 1,009 shares during the period. Hedge funds and other institutional investors own 4.56% of the company’s stock.

ArcelorMittal Company Profile

(Get Free Report)

ArcelorMittal SA, together with its subsidiaries, operates as integrated steel and mining companies in the Americas, Europe, Asia, and Africa. It offers 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, such as blooms and billets; finished long products consisting of bars, wire-rods, structural sections, rails, sheet piles, and wire-products; and seamless and welded pipes and tubes.

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