Recent Investment Analysts’ Ratings Changes for ArcelorMittal (MT)

ArcelorMittal (NYSE: MT) recently received a number of ratings updates from brokerages and research firms:

  • 5/17/2022 – ArcelorMittal was upgraded by analysts at StockNews.com from a “buy” rating to a “strong-buy” rating.
  • 5/11/2022 – ArcelorMittal was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “strong-buy” rating. They now have a $32.00 price target on the stock. According to Zacks, “ArcelorMittal’s adjusted earnings and sales for the first quarter of 2022 beat the respective Zacks Consensus Estimate. The company remains focused on reducing costs. It is implementing a $1-billion fixed cost reduction program that is expected to lend support to its bottom line. Footprint optimization should also aid in improving cost optimization. ArcelorMittal’s efforts to reduce debt is also encouraging. It also has a strong liquidity position and remains committed to return value to shareholders. Further, the company is expanding its steel-making capacity. It is also focused on shifting to high-added value products, including automotive steel line. The new generation of advanced high strength steels (AHSS) allow the company to meet customer requirements through a strong technical and product portfolio.”
  • 5/9/2022 – ArcelorMittal was downgraded by analysts at StockNews.com from a “strong-buy” rating to a “buy” rating.
  • 5/6/2022 – ArcelorMittal had its price target raised by analysts at Deutsche Bank Aktiengesellschaft from €48.00 ($51.06) to €49.00 ($52.13).
  • 4/28/2022 – ArcelorMittal had its price target raised by analysts at JPMorgan Chase & Co. from €43.00 ($45.74) to €48.00 ($51.06).
  • 4/14/2022 – ArcelorMittal had its price target raised by analysts at Deutsche Bank Aktiengesellschaft from €46.00 ($48.94) to €48.00 ($51.06).
  • 3/31/2022 – ArcelorMittal is now covered by analysts at StockNews.com. They set a “strong-buy” rating on the stock.

Shares of MT opened at $31.84 on Friday. The firm has a market cap of $29.86 billion, a PE ratio of 2.01 and a beta of 1.92. The company’s fifty day moving average is $30.77 and its two-hundred day moving average is $31.10. ArcelorMittal S.A. has a fifty-two week low of $26.36 and a fifty-two week high of $37.87. The company has a quick ratio of 0.71, a current ratio of 1.55 and a debt-to-equity ratio of 0.11.

ArcelorMittal (NYSE:MTGet Rating) last announced its quarterly earnings results on Thursday, May 5th. The basic materials company reported $4.27 earnings per share for the quarter, beating analysts’ consensus estimates of $3.25 by $1.02. The company had revenue of $21.84 billion for the quarter, compared to analyst estimates of $21.11 billion. ArcelorMittal had a net margin of 20.43% and a return on equity of 32.88%. As a group, equities research analysts anticipate that ArcelorMittal S.A. will post 13.02 earnings per share for the current year.

Several hedge funds have recently modified their holdings of the company. GQG Partners LLC raised its stake in shares of ArcelorMittal by 13.1% in the 3rd quarter. GQG Partners LLC now owns 26,869,976 shares of the basic materials company’s stock valued at $810,380,000 after acquiring an additional 3,115,423 shares during the period. Arrowstreet Capital Limited Partnership raised its stake in shares of ArcelorMittal by 1,300.7% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 5,349,935 shares of the basic materials company’s stock valued at $171,251,000 after acquiring an additional 4,967,981 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of ArcelorMittal by 44.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,888,143 shares of the basic materials company’s stock valued at $124,465,000 after acquiring an additional 1,196,983 shares during the period. BlackRock Inc. raised its stake in shares of ArcelorMittal by 96.3% in the 1st quarter. BlackRock Inc. now owns 3,706,360 shares of the basic materials company’s stock valued at $118,642,000 after acquiring an additional 1,818,361 shares during the period. Finally, Morgan Stanley raised its stake in shares of ArcelorMittal by 98.0% in the 3rd quarter. Morgan Stanley now owns 3,205,048 shares of the basic materials company’s stock valued at $96,665,000 after acquiring an additional 1,586,116 shares during the period. 41.79% of the stock is currently owned by institutional investors and hedge funds.

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.

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