ArcelorMittal S.A. (NYSE:MT – Get Free Report) gapped down before the market opened on Tuesday . The stock had previously closed at $27.40, but opened at $26.35. ArcelorMittal shares last traded at $26.43, with a volume of 518,680 shares changing hands.
Analysts Set New Price Targets
A number of equities analysts have weighed in on MT shares. JPMorgan Chase & Co. upgraded shares of ArcelorMittal from a “neutral” rating to an “overweight” rating in a research report on Tuesday, December 12th. StockNews.com upgraded shares of ArcelorMittal from a “hold” rating to a “buy” rating in a research note on Friday, February 9th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $33.00.
ArcelorMittal Price Performance
The firm has a market capitalization of $21.29 billion, a P/E ratio of 27.40, a PEG ratio of 0.35 and a beta of 1.95. The business’s 50-day simple moving average is $27.58 and its 200 day simple moving average is $25.69. The company has a quick ratio of 0.67, a current ratio of 1.53 and a debt-to-equity ratio of 0.15.
ArcelorMittal (NYSE:MT – Get Free Report) last announced its quarterly earnings data on Thursday, February 8th. The basic materials company reported ($3.57) earnings per share for the quarter, missing the consensus estimate of ($2.08) by ($1.49). The company had revenue of $14.55 billion during the quarter, compared to the consensus estimate of $16.39 billion. ArcelorMittal had a net margin of 1.35% and a return on equity of 8.55%. The business’s revenue for the quarter was down 13.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.37 EPS. Sell-side analysts forecast that ArcelorMittal S.A. will post 4.5 earnings per share for the current year.
Institutional Investors Weigh In On ArcelorMittal
Several institutional investors and hedge funds have recently modified their holdings of the stock. DRW Securities LLC grew its stake in ArcelorMittal by 39.0% in the fourth quarter. DRW Securities LLC now owns 12,241 shares of the basic materials company’s stock worth $348,000 after purchasing an additional 3,435 shares during the period. Atlas Capital Advisors LLC increased its stake in shares of ArcelorMittal by 163.8% in the 4th quarter. Atlas Capital Advisors LLC now owns 3,136 shares of the basic materials company’s stock worth $89,000 after acquiring an additional 1,947 shares in the last quarter. Voloridge Investment Management LLC boosted its stake in ArcelorMittal by 5.9% during the fourth quarter. Voloridge Investment Management LLC now owns 656,297 shares of the basic materials company’s stock worth $18,632,000 after acquiring an additional 36,526 shares in the last quarter. OLD Mission Capital LLC grew its holdings in ArcelorMittal by 20.4% in the fourth quarter. OLD Mission Capital LLC now owns 217,835 shares of the basic materials company’s stock worth $6,184,000 after purchasing an additional 36,968 shares during the period. Finally, Profund Advisors LLC increased its stake in shares of ArcelorMittal by 20.3% during the fourth quarter. Profund Advisors LLC now owns 15,721 shares of the basic materials company’s stock valued at $446,000 after purchasing an additional 2,658 shares in the last quarter. 4.56% of the stock is owned by hedge funds and other institutional investors.
About ArcelorMittal
ArcelorMittal SA, together with its subsidiaries, operates as integrated steel and mining companies in the Americas, Europe, Asia, and Africa. 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.