ArcelorMittal (MT) Rating Reiterated by Deutsche Bank

ArcelorMittal (NYSE:MT)‘s stock had its “buy” rating restated by equities researchers at Deutsche Bank in a research report issued on Friday, November 17th.

A number of other research analysts have also weighed in on the stock. TheStreet lowered shares of ArcelorMittal from a “b-” rating to a “c+” rating in a research note on Friday, November 10th. Zacks Investment Research raised shares of ArcelorMittal from a “strong sell” rating to a “hold” rating in a research note on Wednesday, October 25th. UBS raised shares of ArcelorMittal from a “neutral” rating to a “buy” rating in a research note on Friday, October 20th. SBG Securities lowered shares of ArcelorMittal from a “buy” rating to a “hold” rating in a research note on Sunday, July 30th. Finally, Goldman Sachs Group reissued a “buy” rating on shares of ArcelorMittal in a research note on Friday, November 17th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and eleven have issued a buy rating to the stock. ArcelorMittal presently has a consensus rating of “Buy” and an average target price of $33.55.

Shares of ArcelorMittal (MT) opened at $30.49 on Friday. The firm has a market capitalization of $31,057.36, a PE ratio of 7.66, a price-to-earnings-growth ratio of 0.70 and a beta of 2.20. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.44 and a current ratio of 1.21. ArcelorMittal has a 12-month low of $19.59 and a 12-month high of $30.88.

ArcelorMittal (NYSE:MT) last announced its quarterly earnings results on Friday, November 10th. The basic materials company reported $1.18 earnings per share for the quarter, topping the consensus estimate of $0.86 by $0.32. ArcelorMittal had a return on equity of 11.57% and a net margin of 6.04%. The company had revenue of $17.64 billion for the quarter, compared to the consensus estimate of $17.08 billion. The firm’s revenue for the quarter was up 21.5% compared to the same quarter last year. During the same period last year, the firm earned $0.22 EPS. equities analysts anticipate that ArcelorMittal will post 3.89 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. BB&T Corp increased its holdings in ArcelorMittal by 0.4% in the 2nd quarter. BB&T Corp now owns 35,799 shares of the basic materials company’s stock valued at $813,000 after purchasing an additional 137 shares during the last quarter. Ameriprise Financial Inc. increased its holdings in ArcelorMittal by 0.5% in the 1st quarter. Ameriprise Financial Inc. now owns 53,502 shares of the basic materials company’s stock valued at $447,000 after purchasing an additional 285 shares during the last quarter. Alliancebernstein L.P. increased its holdings in ArcelorMittal by 1.2% in the 1st quarter. Alliancebernstein L.P. now owns 59,901 shares of the basic materials company’s stock valued at $500,000 after purchasing an additional 720 shares during the last quarter. Quadrant Capital Group LLC grew its stake in shares of ArcelorMittal by 24.9% in the second quarter. Quadrant Capital Group LLC now owns 7,412 shares of the basic materials company’s stock worth $157,000 after acquiring an additional 1,479 shares in the last quarter. Finally, BNP Paribas Arbitrage SA grew its stake in shares of ArcelorMittal by 5.2% in the second quarter. BNP Paribas Arbitrage SA now owns 50,533 shares of the basic materials company’s stock worth $1,149,000 after acquiring an additional 2,491 shares in the last quarter. Institutional investors and hedge funds own 4.09% of the company’s stock.

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About ArcelorMittal

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.

Analyst Recommendations for ArcelorMittal (NYSE:MT)

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