ArcelorMittal (MT) Coverage Initiated by Analysts at KeyCorp

Investment analysts at KeyCorp assumed coverage on shares of ArcelorMittal (NYSE:MT) in a report issued on Monday, The Fly reports. The firm set a “sector weight” rating on the basic materials company’s stock.

A number of other research analysts have also recently commented on the company. Goldman Sachs Group cut ArcelorMittal from a “buy” rating to a “neutral” rating in a research report on Wednesday, January 30th. ValuEngine upgraded ArcelorMittal from a “strong sell” rating to a “sell” rating in a research report on Friday, March 1st. Finally, Zacks Investment Research cut ArcelorMittal from a “hold” rating to a “sell” rating in a research report on Wednesday, January 2nd. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company’s stock. ArcelorMittal has a consensus rating of “Hold” and an average price target of $34.50.

MT stock opened at $22.57 on Monday. The company has a current ratio of 1.38, a quick ratio of 0.50 and a debt-to-equity ratio of 0.21. The firm has a market cap of $22.40 billion, a price-to-earnings ratio of 3.92, a PEG ratio of 3.33 and a beta of 2.05. ArcelorMittal has a fifty-two week low of $19.50 and a fifty-two week high of $36.51.



ArcelorMittal (NYSE:MT) last issued its quarterly earnings results on Thursday, February 7th. The basic materials company reported $1.31 EPS for the quarter, topping the Zacks’ consensus estimate of $0.79 by $0.52. ArcelorMittal had a return on equity of 13.24% and a net margin of 6.77%. The company had revenue of $18.33 billion for the quarter, compared to analysts’ expectations of $18.47 billion. The company’s revenue was up 3.5% compared to the same quarter last year. As a group, equities analysts expect that ArcelorMittal will post 3.59 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Lindbrook Capital LLC bought a new position in shares of ArcelorMittal in the fourth quarter worth $32,000. Financial Architects Inc boosted its stake in ArcelorMittal by 87.6% in the fourth quarter. Financial Architects Inc now owns 1,927 shares of the basic materials company’s stock valued at $40,000 after buying an additional 900 shares in the last quarter. Proficio Capital Partners LLC boosted its stake in ArcelorMittal by 43.9% in the fourth quarter. Proficio Capital Partners LLC now owns 3,310 shares of the basic materials company’s stock valued at $68,000 after buying an additional 1,010 shares in the last quarter. Quadrant Capital Group LLC boosted its stake in ArcelorMittal by 81.4% in the fourth quarter. Quadrant Capital Group LLC now owns 4,411 shares of the basic materials company’s stock valued at $83,000 after buying an additional 1,980 shares in the last quarter. Finally, First Personal Financial Services boosted its stake in ArcelorMittal by 1,420.4% in the fourth quarter. First Personal Financial Services now owns 6,477 shares of the basic materials company’s stock valued at $134,000 after buying an additional 6,051 shares in the last quarter. Institutional investors own 3.05% of the company’s stock.

ArcelorMittal Company Profile

ArcelorMittal, together with its subsidiaries, owns and operates steel manufacturing and mining facilities in Europe, North and South America, Asia, and Africa. It operates through NAFTA, Brazil, Europe, ACIS, and Mining segments. The company produces finished and semi-finished steel products with various specifications.

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Analyst Recommendations for ArcelorMittal (NYSE:MT)

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