ArcelorMittal (NYSE:MT) was downgraded by investment analysts at TheStreet from a “b-” rating to a “c+” rating in a research report issued to clients and investors on Friday, November 10th.

Several other research firms have also issued reports on MT. Zacks Investment Research upgraded ArcelorMittal from a “strong sell” rating to a “hold” rating in a research report on Wednesday, October 25th. UBS AG restated a “buy” rating on shares of ArcelorMittal in a research report on Thursday, October 26th. Cowen Inc raised their price target on ArcelorMittal from $27.00 to $32.00 and gave the stock a “market perform” rating in a research report on Monday, November 13th. ValuEngine lowered ArcelorMittal from a “strong-buy” rating to a “buy” rating in a research report on Thursday, November 9th. Finally, Jefferies Group LLC restated a “buy” rating on shares of ArcelorMittal in a research report on Monday, September 18th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $33.55.

ArcelorMittal (NYSE:MT) traded up $0.37 on Friday, reaching $29.56. The company had a trading volume of 1,384,766 shares, compared to its average volume of 4,090,489. The company has a current ratio of 1.21, a quick ratio of 0.44 and a debt-to-equity ratio of 0.24. ArcelorMittal has a fifty-two week low of $19.59 and a fifty-two week high of $30.50. The company has a market cap of $29,733.17, a price-to-earnings ratio of 7.33, a price-to-earnings-growth ratio of 0.67 and a beta of 2.19.

ArcelorMittal (NYSE:MT) last posted its quarterly earnings results on Friday, November 10th. The basic materials company reported $1.18 earnings per share (EPS) 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 business had revenue of $17.64 billion for the quarter, compared to analyst estimates of $17.08 billion. During the same period last year, the company earned $0.22 EPS. ArcelorMittal’s revenue for the quarter was up 21.5% compared to the same quarter last year. equities research analysts anticipate that ArcelorMittal will post 3.89 EPS for the current fiscal year.

Several hedge funds have recently modified their holdings of MT. Bank of New York Mellon Corp grew its position in shares of ArcelorMittal by 17.9% in the 1st quarter. Bank of New York Mellon Corp now owns 62,732 shares of the basic materials company’s stock worth $524,000 after buying an additional 9,539 shares during the last quarter. Ameriprise Financial Inc. grew its position in shares of ArcelorMittal by 0.5% in the 1st quarter. Ameriprise Financial Inc. now owns 53,502 shares of the basic materials company’s stock worth $447,000 after buying an additional 285 shares during the last quarter. Alliancebernstein L.P. grew its position in shares of ArcelorMittal by 1.2% in the 1st quarter. Alliancebernstein L.P. now owns 59,901 shares of the basic materials company’s stock worth $500,000 after buying an additional 720 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of ArcelorMittal by 2.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,756,562 shares of the basic materials company’s stock worth $31,367,000 after buying an additional 97,928 shares during the last quarter. Finally, Bank of America Corp DE grew its position in shares of ArcelorMittal by 35.8% in the 1st quarter. Bank of America Corp DE now owns 937,168 shares of the basic materials company’s stock worth $7,826,000 after buying an additional 247,026 shares during the last quarter. Hedge funds and other institutional investors own 4.40% of the company’s stock.

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ArcelorMittal Company Profile

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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