Jefferies Group LLC reissued their buy rating on shares of ArcelorMittal (NYSE:MT) in a research note published on Tuesday, July 18th. Jefferies Group LLC currently has a $34.00 price objective on the basic materials company’s stock, up from their previous price objective of $31.50. Jefferies Group also issued estimates for ArcelorMittal’s FY2018 earnings at $3.22 EPS.
Other equities analysts also recently issued research reports about the company. TheStreet raised ArcelorMittal from a c rating to a b- rating in a research report on Monday, May 15th. Credit Suisse Group set a $45.00 price target on ArcelorMittal and gave the stock a buy rating in a research report on Saturday, March 25th. Zacks Investment Research raised ArcelorMittal from a hold rating to a buy rating and set a $30.00 price target on the stock in a research report on Wednesday, March 22nd. Cowen and Company reissued a buy rating and set a $11.00 price target on shares of ArcelorMittal in a research report on Friday, May 19th. Finally, BidaskClub raised ArcelorMittal from a hold rating to a buy rating in a research report on Thursday, July 6th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the company. The stock has a consensus rating of Buy and a consensus target price of $29.72.
Shares of ArcelorMittal (NYSE MT) traded down 3.01% during trading on Tuesday, reaching $25.80. The company’s stock had a trading volume of 5,047,026 shares. ArcelorMittal has a one year low of $16.14 and a one year high of $28.11. The company has a 50-day moving average price of $24.77 and a 200-day moving average price of $24.15. The stock has a market cap of $26.32 billion, a price-to-earnings ratio of 8.12 and a beta of 2.09.
ArcelorMittal (NYSE:MT) last announced its quarterly earnings data on Thursday, July 27th. The basic materials company reported $1.33 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.78 by $0.55. The company had revenue of $17.24 billion for the quarter, compared to the consensus estimate of $16.88 billion. ArcelorMittal had a return on equity of 10.52% and a net margin of 5.50%. ArcelorMittal’s quarterly revenue was up 17.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.38 EPS. On average, equities research analysts forecast that ArcelorMittal will post $3.07 earnings per share for the current fiscal year.
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A number of large investors have recently added to or reduced their stakes in the stock. Integrated Investment Consultants LLC acquired a new stake in ArcelorMittal during the second quarter worth approximately $111,000. Sawtooth Solutions LLC acquired a new stake in ArcelorMittal during the second quarter worth approximately $206,000. Advisor Group Inc. boosted its stake in ArcelorMittal by 160.6% in the second quarter. Advisor Group Inc. now owns 10,147 shares of the basic materials company’s stock worth $230,000 after buying an additional 6,253 shares during the period. Genesee Valley Trust Co. acquired a new stake in ArcelorMittal during the second quarter worth approximately $241,000. Finally, Iron Financial LLC boosted its stake in ArcelorMittal by 50.0% in the first quarter. Iron Financial LLC now owns 15,000 shares of the basic materials company’s stock worth $125,000 after buying an additional 5,000 shares during the period. Institutional investors own 9.72% of the company’s stock.
ArcelorMittal Company Profile
ArcelorMittal SA (ArcelorMittal) is a holding company. The Company, together with its subsidiaries, owns and operates steel manufacturing and mining facilities in Europe, North and South America, Asia and Africa. ArcelorMittal operates through five segments, which include NAFTA; Europe; Brazil; Africa and Commonwealth of Independent States (ACIS), and Mining.
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