ArcelorMittal (MT) Receives Consensus Recommendation of “Buy” from Brokerages
ArcelorMittal (NYSE:MT) has earned an average rating of “Buy” from the seventeen brokerages that are presently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have issued a buy rating on the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $34.11.
Several equities analysts have recently commented on the company. ValuEngine lowered ArcelorMittal from a “strong-buy” rating to a “buy” rating in a report on Tuesday, September 26th. Cowen and Company lowered ArcelorMittal from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $32.00 to $27.00 in a report on Friday, September 22nd. Goldman Sachs Group, Inc. (The) reaffirmed a “buy” rating on shares of ArcelorMittal in a report on Friday. Deutsche Bank AG reaffirmed a “buy” rating on shares of ArcelorMittal in a report on Friday. Finally, Zacks Investment Research lowered ArcelorMittal from a “strong-buy” rating to a “hold” rating in a report on Monday, August 7th.
Hedge funds have recently modified their holdings of the stock. Cetera Investment Advisers acquired a new stake in ArcelorMittal in the second quarter worth approximately $2,165,000. Banco BTG Pactual S.A. acquired a new stake in ArcelorMittal in the second quarter worth approximately $1,130,000. Cambiar Investors LLC acquired a new stake in ArcelorMittal in the second quarter worth approximately $114,710,000. Oppenheimer & Co. Inc. acquired a new stake in ArcelorMittal in the second quarter worth approximately $998,000. Finally, Bbva Compass Bancshares Inc. acquired a new stake in ArcelorMittal in the third quarter worth approximately $1,739,000. 4.40% of the stock is owned by institutional investors and hedge funds.
ArcelorMittal (NYSE:MT) last announced its quarterly earnings data on Friday, November 10th. The basic materials company reported $1.18 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.86 by $0.32. The firm had revenue of $17.64 billion during the quarter, compared to analyst estimates of $17.08 billion. ArcelorMittal had a return on equity of 11.57% and a net margin of 6.04%. ArcelorMittal’s quarterly revenue was up 21.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.22 earnings per share. equities analysts anticipate that ArcelorMittal will post 3.76 EPS for the current 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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