Posted by admin on Jul 9th, 2022

ArcelorMittal (NYSE:MT – Get Rating) had its target price dropped by stock analysts at Deutsche Bank Aktiengesellschaft from $53.00 to $39.00 in a note issued to investors on Thursday, The Fly reports. The brokerage currently has a “buy” rating on the basic materials company’s stock. Deutsche Bank Aktiengesellschaft’s target price would indicate a potential upside of 76.23% from the stock’s previous close.

A number of other research firms have also weighed in on MT. JPMorgan Chase & Co. lowered shares of ArcelorMittal from an “overweight” rating to a “neutral” rating in a research report on Wednesday, June 22nd. StockNews.com upgraded shares of ArcelorMittal from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, May 17th. Finally, Morgan Stanley lifted their price objective on shares of ArcelorMittal from €46.00 ($47.92) to €46.10 ($48.02) and gave the company an “overweight” rating in a research report on Thursday, June 23rd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, ArcelorMittal presently has a consensus rating of “Moderate Buy” and a consensus price target of $42.71.

Shares of MT opened at $22.13 on Thursday. The company has a current ratio of 1.55, a quick ratio of 0.71 and a debt-to-equity ratio of 0.11. The firm has a market cap of $20.75 billion, a PE ratio of 1.40 and a beta of 2.00. The company’s 50 day simple moving average is $27.70 and its 200-day simple moving average is $30.47. ArcelorMittal has a 12-month low of $20.86 and a 12-month high of $37.87.

ArcelorMittal (NYSE:MT – Get Rating) last posted its quarterly earnings data on Thursday, May 5th. The basic materials company reported $4.27 earnings per share for the quarter, beating analysts’ consensus estimates of $3.25 by $1.02. ArcelorMittal had a net margin of 20.43% and a return on equity of 32.88%. The firm had revenue of $21.84 billion for the quarter, compared to analyst estimates of $21.11 billion. As a group, equities research analysts forecast that ArcelorMittal will post 12.15 EPS for the current fiscal year.

A number of institutional investors have recently added to or reduced their stakes in MT. Royal Bank of Canada lifted its holdings in ArcelorMittal by 57.8% in the third quarter. Royal Bank of Canada now owns 68,449 shares of the basic materials company’s stock valued at $2,064,000 after acquiring an additional 25,067 shares during the period. Ritholtz Wealth Management acquired a new position in shares of ArcelorMittal during the 4th quarter worth $447,000. National Bank of Canada FI acquired a new position in shares of ArcelorMittal during the 4th quarter worth $46,000. Signaturefd LLC raised its stake in shares of ArcelorMittal by 83.8% during the 4th quarter. Signaturefd LLC now owns 8,223 shares of the basic materials company’s stock worth $262,000 after buying an additional 3,748 shares during the last quarter. Finally, Seascape Capital Management acquired a new position in shares of ArcelorMittal during the 4th quarter worth $649,000. 41.79% of the stock is owned by institutional investors.

ArcelorMittal SA, together with its subsidiaries, operates as integrated steel and mining companies in Europe, North and South America, Asia, and Africa. Its principal steel products include 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, which includes blooms and billets; finished long products, including bars, wire-rods, structural sections, rails, sheet piles, and wire-products; and seamless and welded pipes and tubes.

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