ArcelorMittal (NYSE: MT) has recently received a number of price target changes and ratings updates:

  • 8/7/2017 – ArcelorMittal was downgraded by analysts at Zacks Investment Research from a “strong-buy” rating to a “hold” rating. According to Zacks, “ArcelorMittal saw higher profits in second-quarter 2017. Earnings for the quarter topped the Zacks Consensus Estimate. Revenues rose by double digits on higher metals pricing, and surpassed expectations. The company raised its steel demand outlook for 2017. ArcelorMittal outperformed the industry it belongs to over the past one year. ArcelorMittal should gain from its efforts to reduce debt, expand capacity and improve efficiency. It is also making a significant progress in reducing costs and expanding its advanced high strength steel product line under the Action 2020 program. The proposed acquisition of Ilva represents another attractive growth opportunity for the company. However, ArcelorMittal continues to contend with challenging steel market conditions in Europe. Demand for steel remains weak in Europe and Brazil. Moreover, cheap steel exports from China is still causing a problem.”
  • 7/30/2017 – ArcelorMittal was downgraded by analysts at SBG Securities from a “buy” rating to a “hold” rating.
  • 7/25/2017 – ArcelorMittal was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “ArcelorMittal outperformed the industry it belongs to over the past one year. ArcelorMittal should gain from its efforts to reduce debt, lower costs, expand capacity and improve efficiency. It is making a significant progress in its cost reduction initiatives under the Action 2020 program. Moreover, ArcelorMittal is looking to sell its non-core assets to focus on important operations and also expanding its advanced high strength steel product line. However, ArcelorMittal continues to contend with soft economic conditions in Europe and China and volatility in steel prices. Demand for steel remains weak in Europe and China. Moreover, cheap steel exports from China is still causing a problem.”
  • 7/25/2017 – ArcelorMittal was downgraded by analysts at BidaskClub from a “strong-buy” rating to a “buy” rating.
  • 7/19/2017 – ArcelorMittal was upgraded by analysts at BidaskClub from a “buy” rating to a “strong-buy” rating.
  • 7/19/2017 – ArcelorMittal had its “buy” rating reaffirmed by analysts at Cowen and Company. They now have a $32.00 price target on the stock.
  • 7/18/2017 – ArcelorMittal had its “buy” rating reaffirmed by analysts at Jefferies Group LLC. They now have a $34.00 price target on the stock, up previously from $31.50.
  • 7/14/2017 – ArcelorMittal was upgraded by analysts at ING Group from a “hold” rating to a “buy” rating.
  • 7/12/2017 – ArcelorMittal was upgraded by analysts at Deutsche Bank AG from a “hold” rating to a “buy” rating. They now have a $32.00 price target on the stock, up previously from $25.00.
  • 7/11/2017 – ArcelorMittal was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $26.00 price target on the stock. According to Zacks, “ArcelorMittal outperformed the Zacks categorized Steel-Producers industry over the past one year. ArcelorMittal should gain from its efforts to reduce debt, lower costs, expand capacity and improve efficiency. It is making a significant progress in its cost reduction initiatives under the Action 2020 program. Moreover, ArcelorMittal is looking to sell its non-core assets to focus on important operations and also expanding its advanced high strength steel product line.”
  • 7/6/2017 – ArcelorMittal was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating.
  • 6/30/2017 – ArcelorMittal had its “buy” rating reaffirmed by analysts at Jefferies Group LLC.
  • 6/24/2017 – ArcelorMittal was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating.

ArcelorMittal (NYSE:MT) opened at 26.60 on Friday. The stock’s 50 day moving average is $24.63 and its 200 day moving average is $24.14. The firm has a market cap of $27.13 billion, a price-to-earnings ratio of 8.37 and a beta of 2.09. ArcelorMittal has a one year low of $16.14 and a one year high of $28.11.

ArcelorMittal (NYSE:MT) last announced its quarterly earnings results on Thursday, July 27th. The basic materials company reported $1.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.78 by $0.55. The business had revenue of $17.24 billion for the quarter, compared to analyst estimates of $16.88 billion. ArcelorMittal had a net margin of 5.50% and a return on equity of 10.52%. The company’s revenue was up 17.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.38 EPS. On average, analysts predict that ArcelorMittal will post $3.07 earnings per share for the current fiscal year.

ArcelorMittal SA (ArcelorMittal) is a holding company. The Company, together with its subsidiaries, owns and operates steel manufacturing and mining facilities in Europe, North and South America, Asia and Africa. ArcelorMittal operates through five segments, which include NAFTA; Europe; Brazil; Africa and Commonwealth of Independent States (ACIS), and Mining.

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