ArcelorMittal (NYSE:MT) Sets New 12-Month High – Still a Buy?

by · The Cerbat Gem

ArcelorMittal (NYSE:MT – Get Free Report) shares reached a new 52-week high on Wednesday . The company traded as high as $43.95 and last traded at $43.9270, with a volume of 23861 shares traded. The stock had previously closed at $43.28.

Analyst Upgrades and Downgrades

MT has been the subject of a number of analyst reports. The Goldman Sachs Group reissued a “neutral” rating on shares of ArcelorMittal in a research note on Friday, October 10th. Wells Fargo & Company reaffirmed a “cautious” rating and issued a $39.00 target price (up previously from $33.00) on shares of ArcelorMittal in a report on Thursday, October 23rd. UBS Group lowered ArcelorMittal from a “buy” rating to a “neutral” rating in a research note on Monday, November 17th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $49.00 price objective on shares of ArcelorMittal in a research report on Wednesday, November 26th. Finally, Citigroup reiterated a “buy” rating on shares of ArcelorMittal in a research report on Wednesday, October 8th. Three equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $38.98.

Read Our Latest Report on ArcelorMittal

ArcelorMittal Stock Performance

The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.58 and a current ratio of 1.39. The company has a market capitalization of $35.88 billion, a P/E ratio of 13.03, a P/E/G ratio of 0.19 and a beta of 1.58. The business’s fifty day simple moving average is $39.83 and its 200-day simple moving average is $35.29.

ArcelorMittal (NYSE:MT – Get Free Report) last released its quarterly earnings data on Thursday, November 6th. The basic materials company reported $0.62 EPS for the quarter, beating the consensus estimate of $0.58 by $0.04. The business had revenue of $15.66 billion during the quarter, compared to the consensus estimate of $15.88 billion. ArcelorMittal had a net margin of 4.23% and a return on equity of 4.94%. The business’s revenue was up 3.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.63 EPS. As a group, equities analysts anticipate that ArcelorMittal will post 3.72 earnings per share for the current fiscal year.

Hedge Funds Weigh In On ArcelorMittal

Several institutional investors have recently added to or reduced their stakes in MT. State of Wyoming purchased a new stake in shares of ArcelorMittal during the 3rd quarter worth approximately $36,000. SVB Wealth LLC bought a new stake in ArcelorMittal in the first quarter worth $43,000. Geneos Wealth Management Inc. raised its stake in ArcelorMittal by 44.2% during the first quarter. Geneos Wealth Management Inc. now owns 1,635 shares of the basic materials company’s stock valued at $47,000 after purchasing an additional 501 shares in the last quarter. Farther Finance Advisors LLC lifted its position in ArcelorMittal by 392.1% during the third quarter. Farther Finance Advisors LLC now owns 1,752 shares of the basic materials company’s stock valued at $63,000 after purchasing an additional 1,396 shares during the last quarter. Finally, Bayforest Capital Ltd grew its stake in shares of ArcelorMittal by 23.7% in the 1st quarter. Bayforest Capital Ltd now owns 2,298 shares of the basic materials company’s stock worth $66,000 after buying an additional 440 shares in the last quarter. Hedge funds and other institutional investors own 9.29% of the company’s stock.

ArcelorMittal Company Profile

(Get Free Report)

ArcelorMittal SA, together with its subsidiaries, operates as integrated steel and mining companies in the United States, Europe, and internationally. 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.

Read More