ArcelorMittal (NYSE:MT) Rating Lowered to Buy at StockNews.com

StockNews.com lowered shares of ArcelorMittal (NYSE:MT – Get Rating) from a strong-buy rating to a buy rating in a research report sent to investors on Monday.

Several other research firms also recently commented on MT. AlphaValue raised ArcelorMittal to a reduce rating in a report on Tuesday, February 15th. JPMorgan Chase & Co. increased their price objective on ArcelorMittal from €43.00 ($45.26) to €48.00 ($50.53) in a report on Thursday, April 28th. Deutsche Bank Aktiengesellschaft raised their price target on ArcelorMittal from €48.00 ($50.53) to €49.00 ($51.58) in a report on Friday. Credit Suisse Group raised their price target on ArcelorMittal from $42.00 to $50.00 in a report on Tuesday, February 22nd. Finally, The Goldman Sachs Group downgraded ArcelorMittal from a buy rating to a neutral rating in a report on Wednesday, January 26th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of Buy and a consensus price target of $42.41.

Shares of MT opened at $27.57 on Monday. The stock has a market capitalization of $25.86 billion, a P/E ratio of 1.74 and a beta of 1.92. ArcelorMittal has a twelve month low of $26.59 and a twelve month high of $37.87. The company has a 50 day moving average of $31.17 and a 200-day moving average of $31.48. The company has a quick ratio of 0.62, a current ratio of 1.45 and a debt-to-equity ratio of 0.13.

ArcelorMittal (NYSE:MT – Get Rating) last released its quarterly earnings data on Thursday, February 10th. The basic materials company reported $3.71 EPS for the quarter, beating the consensus estimate of $3.39 by $0.32. The company had revenue of $20.81 billion during the quarter, compared to the consensus estimate of $19.98 billion. ArcelorMittal had a return on equity of 34.09% and a net margin of 20.43%. The firm’s revenue for the quarter was up 46.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.18 EPS. On average, sell-side analysts anticipate that ArcelorMittal will post 11.93 earnings per share for the current fiscal year.

The company also recently disclosed an annual dividend, which will be paid on Friday, June 10th. Shareholders of record on Monday, May 16th will be given a dividend of $0.38 per share. This is a boost from ArcelorMittal’s previous annual dividend of $0.30. The ex-dividend date of this dividend is Friday, May 13th. This represents a yield of 1.8%. ArcelorMittal’s dividend payout ratio (DPR) is presently 1.58%.

A number of hedge funds have recently bought and sold shares of MT. Rockefeller Capital Management L.P. increased its position in shares of ArcelorMittal by 320.8% in the third quarter. Rockefeller Capital Management L.P. now owns 909 shares of the basic materials company’s stock worth $26,000 after purchasing an additional 693 shares during the period. BNP Paribas Arbitrage SA increased its position in shares of ArcelorMittal by 82.3% in the fourth quarter. BNP Paribas Arbitrage SA now owns 1,353 shares of the basic materials company’s stock worth $43,000 after purchasing an additional 611 shares during the period. Prospera Financial Services Inc bought a new position in shares of ArcelorMittal in the first quarter worth $45,000. National Bank of Canada FI bought a new position in shares of ArcelorMittal in the fourth quarter worth $46,000. Finally, Bessemer Group Inc. increased its position in shares of ArcelorMittal by 42.8% in the fourth quarter. Bessemer Group Inc. now owns 2,026 shares of the basic materials company’s stock worth $64,000 after purchasing an additional 607 shares during the period. Hedge funds and other institutional investors own 41.79% of the company’s stock.

ArcelorMittal Company Profile (Get Rating)

ArcelorMittal SA, together with its subsidiaries, operates as integrated steel and mining companies in Europe, North and South America, Asia, and Africa. Its principal steel products include 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, which includes blooms and billets; finished long products, including bars, wire-rods, structural sections, rails, sheet piles, and wire-products; and seamless and welded pipes and tubes.

Recommended Stories