ArcelorMittal SA (NYSE:MT) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $15.91 and traded as high as $16.37. ArcelorMittal shares last traded at $16.23, with a volume of 2,137,713 shares changing hands.
MT has been the subject of a number of research analyst reports. Zacks Investment Research downgraded ArcelorMittal from a “hold” rating to a “sell” rating and set a $15.00 price target for the company. in a report on Friday, October 11th. KeyCorp boosted their price target on ArcelorMittal from $21.00 to $22.00 and gave the company an “overweight” rating in a report on Wednesday, December 11th. Societe Generale downgraded ArcelorMittal from a “buy” rating to a “sell” rating in a report on Tuesday, November 5th. Deutsche Bank lowered their price target on ArcelorMittal from $25.00 to $18.00 and set a “buy” rating for the company in a report on Monday, October 7th. Finally, UBS Group upgraded ArcelorMittal from a “neutral” rating to a “buy” rating in a report on Monday, November 11th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company. ArcelorMittal presently has a consensus rating of “Hold” and a consensus price target of $21.00.
The stock has a market capitalization of $16.43 billion, a P/E ratio of 9.04 and a beta of 2.47. The stock has a 50 day moving average of $17.40 and a 200 day moving average of $15.90. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.52 and a current ratio of 1.42.
ArcelorMittal (NYSE:MT) last issued its quarterly earnings data on Thursday, November 7th. The basic materials company reported ($0.53) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.29) by ($0.24). The company had revenue of $16.63 billion for the quarter, compared to the consensus estimate of $16.70 billion. ArcelorMittal had a return on equity of 4.20% and a net margin of 0.85%. ArcelorMittal’s quarterly revenue was down 10.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.89 earnings per share. On average, research analysts anticipate that ArcelorMittal SA will post -0.46 EPS for the current fiscal year.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Wetherby Asset Management Inc. grew its stake in ArcelorMittal by 6.5% during the 3rd quarter. Wetherby Asset Management Inc. now owns 17,424 shares of the basic materials company’s stock worth $248,000 after buying an additional 1,071 shares during the last quarter. Assetmark Inc. bought a new position in ArcelorMittal during the 2nd quarter worth $30,000. Signaturefd LLC grew its stake in shares of ArcelorMittal by 32.8% in the third quarter. Signaturefd LLC now owns 8,637 shares of the basic materials company’s stock worth $123,000 after purchasing an additional 2,134 shares in the last quarter. Lindbrook Capital LLC grew its stake in shares of ArcelorMittal by 275.1% in the third quarter. Lindbrook Capital LLC now owns 4,332 shares of the basic materials company’s stock worth $62,000 after purchasing an additional 3,177 shares in the last quarter. Finally, Ladenburg Thalmann Financial Services Inc. grew its stake in shares of ArcelorMittal by 19.6% in the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 35,741 shares of the basic materials company’s stock worth $644,000 after purchasing an additional 5,867 shares in the last quarter. Hedge funds and other institutional investors own 2.64% of the company’s stock.
About ArcelorMittal (NYSE:MT)
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 five segments: NAFTA, Brazil, Europe, ACIS, and Mining. The company produces finished and semi-finished steel products with various specifications.
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