Barclays lowered shares of ArcelorMittal (NYSE:MT – Free Report) from an overweight rating to an equal weight rating in a research note published on Wednesday morning, Marketbeat reports.
A number of other research analysts have also weighed in on MT. Wall Street Zen upgraded ArcelorMittal from a “hold” rating to a “buy” rating in a report on Saturday, July 12th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of ArcelorMittal in a research report on Monday, April 14th. Jefferies Financial Group lowered shares of ArcelorMittal from a “buy” rating to a “hold” rating and set a $36.20 price objective on the stock. in a report on Wednesday, March 26th. Finally, The Goldman Sachs Group raised shares of ArcelorMittal from a “neutral” rating to a “buy” rating and boosted their price target for the company from $29.00 to $31.70 in a research note on Thursday, April 10th. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, ArcelorMittal currently has a consensus rating of “Moderate Buy” and a consensus price target of $32.95.
View Our Latest Analysis on MT
ArcelorMittal Stock Down 0.4%
Shares of MT opened at $32.47 on Wednesday. The company has a quick ratio of 0.58, a current ratio of 1.35 and a debt-to-equity ratio of 0.16. ArcelorMittal has a 52 week low of $20.52 and a 52 week high of $34.90. The stock’s 50-day moving average price is $31.37 and its 200-day moving average price is $28.86. The company has a market capitalization of $26.60 billion, a price-to-earnings ratio of 21.22, a PEG ratio of 0.14 and a beta of 1.63.
ArcelorMittal (NYSE:MT – Get Free Report) last announced its earnings results on Wednesday, April 30th. The basic materials company reported $1.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.71 by $0.33. The firm had revenue of $14.80 billion for the quarter, compared to analyst estimates of $15.11 billion. ArcelorMittal had a return on equity of 4.11% and a net margin of 1.98%. The business’s revenue was down 9.1% on a year-over-year basis. During the same quarter last year, the firm posted $1.16 EPS. On average, sell-side analysts predict that ArcelorMittal will post 3.72 EPS for the current year.
ArcelorMittal Cuts Dividend
The firm also recently announced a dividend, which was paid on Wednesday, June 11th. Investors of record on Monday, May 19th were issued a $0.2338 dividend. This represents a yield of 1.44%. The ex-dividend date of this dividend was Friday, May 16th. ArcelorMittal’s dividend payout ratio (DPR) is presently 30.72%.
Hedge Funds Weigh In On ArcelorMittal
Several hedge funds have recently added to or reduced their stakes in MT. Janney Montgomery Scott LLC grew its holdings in shares of ArcelorMittal by 4.5% during the second quarter. Janney Montgomery Scott LLC now owns 7,359 shares of the basic materials company’s stock worth $232,000 after purchasing an additional 318 shares during the last quarter. GC Wealth Management RIA LLC grew its holdings in shares of ArcelorMittal by 39.1% during the second quarter. GC Wealth Management RIA LLC now owns 13,317 shares of the basic materials company’s stock worth $421,000 after purchasing an additional 3,741 shares during the last quarter. Signaturefd LLC grew its holdings in shares of ArcelorMittal by 4.1% during the second quarter. Signaturefd LLC now owns 33,394 shares of the basic materials company’s stock worth $1,055,000 after purchasing an additional 1,308 shares during the last quarter. GAMMA Investing LLC grew its stake in ArcelorMittal by 26.4% during the 2nd quarter. GAMMA Investing LLC now owns 2,426 shares of the basic materials company’s stock worth $77,000 after buying an additional 506 shares during the last quarter. Finally, Park Avenue Securities LLC purchased a new position in ArcelorMittal during the 2nd quarter worth approximately $400,000. 9.29% of the stock is currently owned by hedge funds and other institutional investors.
About ArcelorMittal
(Get Free Report)
ArcelorMittal SA, together with its subsidiaries, operates as integrated steel and mining companies in the United States, Europe, and internationally. It offers 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, such as blooms and billets; finished long products consisting of bars, wire-rods, structural sections, rails, sheet piles, and wire-products; and seamless and welded pipes and tubes.
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