Deutsche Bank (DB) Analysts Lower Price Target on ArcelorMittal ADR (MT) to $24.50
Friday, August 26, 2021 12:15 PM

Equities research analysts at Deutsche Bank (NYSE: DB) lowered their price target on shares of ArcelorMittal ADR (NYSE: MT) from $38.50 to $24.50 in a research note to investors on Friday. The analysts currently have a "hold" rating on the stock.

Separately, analysts at Nomura (NYSE: NMR) downgraded shares of ArcelorMittal ADR from a "buy" rating to a "neutral" rating in a research note to investors on Thursday. Also, analysts at Societe Generale upgraded shares of ArcelorMittal ADR from a "hold" rating to a "buy" rating in a research note to investors on Tuesday, July 12nd.

Shares of ArcelorMittal ADR traded up 0.35% during mid-day trading on Monday, hitting $20.05. ArcelorMittal ADR has a 52 week low of $19.25 and a 52 week high of $38.88. The stock's 50-day moving average is $27.72 and its 200-day moving average is $33.00. The company has a market cap of $31.057 billion and a price-to-earnings ratio of 8.86.

ArcelorMittal ADR last announced its quarterly results on Wednesday, July 27th. The company reported $0.99 earnings per share (EPS) for the previous quarter, beating the Thomson Reuters consensus estimate of $0.90 EPS by $0.09. The company’s quarterly revenue was up 24.7% on a year-over-year basis. On average, analysts predict that ArcelorMittal ADR will post $0.79 EPS next quarter.

ArcelorMittal is a global steel producer. The Company has steel-making operations in 20 countries on four continents, including 65 integrated, mini-mill and integrated mini-mill steel-making facilities. ArcelorMittal operates its business in six operating segments: Flat Carbon Americas; Flat Carbon Europe; Long Carbon Americas and Europe; Asia, Africa and Commonwealth of Independent States (CIS) (AACIS); Stainless Steel, and ArcelorMittal Steel Solutions and Services. Approximately 35% of its steel is produced in the Americas, approximately 47% is produced in Europe and approximately 18% is produced in other countries, such as Kazakhstan, South Africa and Ukraine. ArcelorMittal produces a range of finished and semi-finished products. It produces flat products, including sheet and plate, long products, including bars, rods and structural shapes, and stainless steel products. ArcelorMittal also produces pipes and tubes for various applications.

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