A number of research firms have changed their ratings and price targets for ArcelorMittal (NYSE: MT):

  • 10/2/2017 – ArcelorMittal was upgraded by analysts at ValuEngine from a “buy” rating to a “strong-buy” rating.
  • 9/26/2017 – ArcelorMittal was downgraded by analysts at ValuEngine from a “strong-buy” rating to a “buy” rating.
  • 9/26/2017 – ArcelorMittal was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “strong-buy” rating. They now have a $29.00 price target on the stock. According to Zacks, “ArcelorMittal has outperformed the industry it belongs to over the past year. ArcelorMittal should gain from its efforts to reduce debt, expand capacity and improve efficiency. It is also making a significant progress in reducing costs and expanding its advanced high strength steel product line under the Action 2020 program. The proposed acquisition of Ilva represents another attractive growth opportunity for the company. The company has also raised its steel demand outlook for 2017.”
  • 9/22/2017 – ArcelorMittal was downgraded by analysts at Cowen and Company from an “outperform” rating to a “market perform” rating. They now have a $27.00 price target on the stock, down previously from $32.00.
  • 9/18/2017 – ArcelorMittal had its “buy” rating reaffirmed by analysts at Jefferies Group LLC.
  • 8/23/2017 – ArcelorMittal was given a new $32.00 price target on by analysts at Cowen and Company. They now have a “buy” rating on the stock.
  • 8/17/2017 – ArcelorMittal had its “buy” rating reaffirmed by analysts at Deutsche Bank AG.
  • 8/7/2017 – ArcelorMittal was downgraded by analysts at Zacks Investment Research from a “strong-buy” rating to a “hold” rating. According to Zacks, “ArcelorMittal saw higher profits in second-quarter 2017. Earnings for the quarter topped the Zacks Consensus Estimate. Revenues rose by double digits on higher metals pricing, and surpassed expectations. The company raised its steel demand outlook for 2017. ArcelorMittal outperformed the industry it belongs to over the past one year. ArcelorMittal should gain from its efforts to reduce debt, expand capacity and improve efficiency. It is also making a significant progress in reducing costs and expanding its advanced high strength steel product line under the Action 2020 program. The proposed acquisition of Ilva represents another attractive growth opportunity for the company. However, ArcelorMittal continues to contend with challenging steel market conditions in Europe. Demand for steel remains weak in Europe and Brazil. Moreover, cheap steel exports from China is still causing a problem.”

ArcelorMittal (NYSE:MT) opened at 26.68 on Wednesday. The company has a 50-day moving average of $26.38 and a 200 day moving average of $24.27. The company has a market cap of $27.21 billion, a P/E ratio of 8.40 and a beta of 2.10. ArcelorMittal has a 52 week low of $18.24 and a 52 week high of $28.11.

ArcelorMittal (NYSE:MT) last released its earnings results on Thursday, July 27th. The basic materials company reported $1.33 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.78 by $0.55. The company had revenue of $17.24 billion during 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% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.38 EPS. On average, equities analysts forecast that ArcelorMittal will post $3.12 EPS for the current fiscal year.

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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