3 days Ago By ABMN Staff
ArcelorMittal S.A. ( NYSE:MT – Get Free Report ) has earned an average rating of “Moderate Buy” from the five brokerages that are covering the stock, Marketbeat reports.
Two research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $30.30.
MT has been the subject of several research reports. Barclays raised ArcelorMittal from an “equal weight” rating to an “overweight” rating in a research report on Monday, August 19th. Deutsche Bank Aktiengesellschaft raised ArcelorMittal from a “hold” rating to a “buy” rating and raised their price objective for the company from $29.
00 to $31.00 in a research report on Wednesday, August 28th. View Our Latest Stock Analysis on ArcelorMittal ArcelorMittal Stock Up 1.
6 % ArcelorMittal ( NYSE:MT – Get Free Report ) last announced its earnings results on Thursday, August 1st. The basic materials company reported $0.63 EPS for the quarter, missing analysts’ consensus estimates of $1.
12 by ($0.49). The business had revenue of $16.
25 billion for the quarter, compared to the consensus estimate of $16.32 billion. ArcelorMittal had a negative net margin of 0.
93% and a positive return on equity of 6.00%. ArcelorMittal’s revenue was down 12.
7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.20 EPS.
Sell-side analysts anticipate that ArcelorMittal will post 3.51 EPS for the current year. Institutional Investors Weigh In On ArcelorMittal A number of institutional investors have recently made changes to their positions in MT.
Sanctuary Advisors LLC purchased a new position in ArcelorMittal in the 2nd quarter worth about $533,000. Teachers Retirement System of The State of Kentucky lifted its position in ArcelorMittal by 8.2% during the second quarter.
Teachers Retirement System of The State of Kentucky now owns 131,850 shares of the basic materials company’s stock valued at $3,023,000 after purchasing an additional 10,000 shares during the period. Truist Financial Corp purchased a new stake in ArcelorMittal in the second quarter worth approximately $250,000. Creative Planning grew its position in ArcelorMittal by 25.
2% in the 2nd quarter. Creative Planning now owns 49,328 shares of the basic materials company’s stock worth $1,131,000 after purchasing an additional 9,938 shares during the period. Finally, Encompass Capital Advisors LLC bought a new stake in ArcelorMittal in the 2nd quarter worth approximately $12,679,000.
Hedge funds and other institutional investors own 9.88% 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 United States, Europe, and internationally.
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. Featured Stories Receive News & Ratings for ArcelorMittal Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ArcelorMittal and related companies with MarketBeat.com's FREE daily email newsletter .
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