ArcelorMittal SA (NYSE:MT) has been assigned an average recommendation of “Buy” from the fourteen research firms that are currently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and nine have issued a buy recommendation on the company. The average 12-month price objective among brokers that have covered the stock in the last year is $36.50.
A number of research analysts have commented on the company. Bank of America upgraded ArcelorMittal from a “neutral” rating to a “buy” rating in a research note on Tuesday, February 20th. Goldman Sachs Group restated a “buy” rating on shares of ArcelorMittal in a research note on Monday, February 19th. JPMorgan Chase & Co. restated a “buy” rating on shares of ArcelorMittal in a research note on Wednesday, March 7th. ValuEngine cut ArcelorMittal from a “buy” rating to a “hold” rating in a research note on Saturday, June 2nd. Finally, Cowen upped their price target on ArcelorMittal from $35.00 to $38.00 and gave the stock a “market perform” rating in a research note on Tuesday, May 15th.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Icon Wealth Partners LLC acquired a new stake in shares of ArcelorMittal in the fourth quarter valued at $110,000. Elkfork Partners LLC purchased a new position in shares of ArcelorMittal during the fourth quarter worth about $111,000. Premia Global Advisors LLC purchased a new position in shares of ArcelorMittal during the fourth quarter worth about $143,000. Financial Gravity Companies Inc. purchased a new position in shares of ArcelorMittal during the fourth quarter worth about $179,000. Finally, Financial Gravity Wealth Inc. purchased a new position in shares of ArcelorMittal during the first quarter worth about $184,000. Institutional investors and hedge funds own 4.89% of the company’s stock.
ArcelorMittal traded down $0.29, reaching $33.65, during trading hours on Friday, according to Marketbeat.com. The company’s stock had a trading volume of 2,504,300 shares, compared to its average volume of 3,280,450. ArcelorMittal has a fifty-two week low of $19.59 and a fifty-two week high of $37.50. The stock has a market capitalization of $34.46 billion, a PE ratio of 6.30 and a beta of 2.36. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.44 and a current ratio of 1.26.
ArcelorMittal (NYSE:MT) last released its quarterly earnings results on Friday, May 11th. The basic materials company reported $1.17 EPS for the quarter, topping analysts’ consensus estimates of $0.99 by $0.18. ArcelorMittal had a return on equity of 11.85% and a net margin of 6.63%. The company had revenue of $19.19 billion for the quarter, compared to analysts’ expectations of $19.38 billion. equities research analysts forecast that ArcelorMittal will post 4.44 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 13th. Stockholders of record on Friday, May 18th were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 1.19%. The ex-dividend date was Thursday, May 17th. ArcelorMittal’s payout ratio is currently 1.69%.
ArcelorMittal announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, March 13th that authorizes the company to repurchase $280.00 million in outstanding shares. This repurchase authorization authorizes the basic materials company to repurchase shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s management believes its shares are undervalued.
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 NAFTA, Brazil, Europe, ACIS, and Mining segments. The company produces finished and semi-finished steel products with various specifications.
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