Shares of ArcelorMittal (NYSE:MT) have been assigned an average recommendation of “Buy” from the fifteen brokerages that are currently covering the firm, MarketBeat reports. Two analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $37.33.
Several research analysts have recently commented on the stock. ValuEngine raised shares of ArcelorMittal from a “buy” rating to a “strong-buy” rating in a report on Wednesday. Credit Suisse Group reaffirmed a “buy” rating on shares of ArcelorMittal in a report on Thursday, April 5th. Zacks Investment Research raised shares of ArcelorMittal from a “hold” rating to a “buy” rating and set a $35.00 price target for the company in a report on Tuesday, April 3rd. JPMorgan Chase reissued a “buy” rating on shares of ArcelorMittal in a research note on Wednesday, March 7th. Finally, Bank of America raised shares of ArcelorMittal from a “neutral” rating to a “buy” rating in a research note on Tuesday, February 20th.
NYSE MT opened at $34.94 on Friday. ArcelorMittal has a one year low of $19.59 and a one year high of $37.50. The company has a quick ratio of 0.41, a current ratio of 1.25 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $34,248.78, a PE ratio of 6.54, a price-to-earnings-growth ratio of 0.65 and a beta of 2.38.
ArcelorMittal (NYSE:MT) last posted its quarterly earnings results on Wednesday, January 31st. The basic materials company reported $1.01 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.80 by $0.21. ArcelorMittal had a net margin of 6.65% and a return on equity of 12.03%. The business had revenue of $17.71 billion during the quarter, compared to analyst estimates of $18.34 billion. During the same period in the previous year, the business posted $0.39 EPS. equities analysts forecast that ArcelorMittal will post 3.86 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 13th. Shareholders of record on Friday, May 18th will be paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 1.14%. The ex-dividend date is Thursday, May 17th.
ArcelorMittal declared that its board has initiated a share repurchase plan on Tuesday, March 13th that permits the company to buyback $280.00 million in shares. This buyback authorization permits the basic materials company to purchase shares of its stock through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its stock is undervalued.
A number of institutional investors have recently bought and sold shares of MT. Anchor Bolt Capital LP acquired a new position in ArcelorMittal during the 4th quarter valued at about $35,842,000. Capital Growth Management LP acquired a new position in ArcelorMittal during the 4th quarter valued at about $32,310,000. Dimensional Fund Advisors LP boosted its stake in ArcelorMittal by 32.0% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,341,298 shares of the basic materials company’s stock valued at $60,312,000 after purchasing an additional 567,841 shares during the period. Millennium Management LLC boosted its stake in ArcelorMittal by 67.3% during the 4th quarter. Millennium Management LLC now owns 782,879 shares of the basic materials company’s stock valued at $25,295,000 after purchasing an additional 315,023 shares during the period. Finally, TIAA CREF Investment Management LLC boosted its stake in ArcelorMittal by 31.4% during the 4th quarter. TIAA CREF Investment Management LLC now owns 864,913 shares of the basic materials company’s stock valued at $27,945,000 after purchasing an additional 206,672 shares during the period. 4.79% of the stock is owned by hedge funds and other institutional investors.
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ArcelorMittal Company Profile
ArcelorMittal, together with its subsidiaries, owns and operates steel manufacturing and mining facilities in Europe, North and South America, Asia, and Africa. It operates through NAFTA, Brazil, Europe, ACIS, and Mining segments. The company produces finished and semi-finished steel products with various specifications.
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