ArcelorMittal (NYSE:MT – Get Free Report) has received a consensus rating of “Hold” from the twelve brokerages that are currently covering the company, MarketBeat reports. Seven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $74.80.
Several brokerages have commented on MT. JPMorgan Chase & Co. raised shares of ArcelorMittal from an “underweight” rating to a “neutral” rating in a research note on Friday, July 10th. Weiss Ratings cut shares of ArcelorMittal from a “buy (b-)” rating to a “hold (c)” rating in a research report on Thursday, August 13th. Wells Fargo & Company upped their price objective on shares of ArcelorMittal from $62.00 to $69.00 and gave the company an “equal weight” rating in a research report on Friday, July 31st. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $75.00 price objective on shares of ArcelorMittal in a research note on Friday, July 31st. Finally, Jefferies Financial Group reiterated a “buy” rating on shares of ArcelorMittal in a report on Monday, July 6th.
View Our Latest Analysis on MT
Institutional Investors Weigh In On ArcelorMittal
ArcelorMittal Stock Performance
Shares of MT stock opened at $73.51 on Wednesday. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.43 and a quick ratio of 0.57. The stock has a market cap of $56.97 billion, a PE ratio of 31.15, a price-to-earnings-growth ratio of 0.54 and a beta of 1.53. The stock has a 50-day moving average of $67.60 and a 200-day moving average of $63.21. ArcelorMittal has a one year low of $31.93 and a one year high of $75.66.
ArcelorMittal (NYSE:MT – Get Free Report) last announced its quarterly earnings results on Thursday, July 30th. The basic materials company reported $0.90 earnings per share for the quarter, missing analysts’ consensus estimates of $1.18 by ($0.28). ArcelorMittal had a net margin of 2.88% and a return on equity of 4.20%. The firm had revenue of $16.76 billion during the quarter, compared to analyst estimates of $17.56 billion. During the same quarter in the prior year, the business earned $1.32 earnings per share. The business’s revenue was up 5.2% on a year-over-year basis. As a group, sell-side analysts expect that ArcelorMittal will post 4.48 earnings per share for the current year.
ArcelorMittal Company Profile
ArcelorMittal is a multinational steel manufacturing company formed in 2006 through the merger of Arcelor and Mittal Steel. Headquartered in Luxembourg, the company is one of the world’s largest producers of steel and operates an integrated value chain that spans raw material extraction, steelmaking, processing and distribution. Its product portfolio includes flat and long carbon steel products, coated and specialty steels, tubular products and value-added solutions tailored for sectors such as automotive, construction, household appliances, energy and packaging.
ArcelorMittal’s operations are global in scope, with production facilities, distribution networks and commercial activities across Europe, the Americas, Asia, Africa and the Commonwealth of Independent States.
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