An Analysis Of ArcelorMittal (MT) Stock

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ArcelorMittal (NYSE:MT) has a beta value of 2.02 and has seen 3.71 million shares traded in the last trading session. The company, currently valued at $30.99B, closed the last trade at $29.82 per share which meant it lost -$0.6 on the day or -1.97% during that session. The MT stock price is -22.67% off its 52-week high price of $36.58 and 56.47% above the 52-week low of $12.98. If we look at the company’s 10-day average daily trading volume, we find that it stood at 5.6 million shares traded. The 3-month trading volume is 3.80 million shares.

The consensus among analysts is that ArcelorMittal (MT) is a Buy stock at the moment, with a recommendation rating of 1.80. 0 analysts rate the stock as a Sell, while 4 rate it as Overweight. 1 out of 20 have rated it as a Hold, with 15 advising it as a Buy. 0 have rated the stock as Underweight. The expected earnings per share for the stock is $4.63.

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Sporting -1.97% in the red in last session, the stock has traded in the green over the last five days, with the highest price hit on Tuesday, 09/28/21 when the MT stock price touched $29.82 or saw a rise of 2.93%. Year-to-date, ArcelorMittal shares have moved 30.22%, while the 5-day performance has seen it change 2.33%. Over the past 30 days, the shares of ArcelorMittal (NYSE:MT) have changed -14.09%. Short interest in the company has seen 4.43 million shares shorted with days to cover at 1.14.

Wall Street analysts have a consensus price target for the stock at $45.87, which means that the shares’ value could jump 34.99% from current levels. The projected low price target is $32.62 while the price target rests at a high of $60.97. In that case, then, we find that the current price level is -104.46% off the targeted high while a plunge would see the stock gain -9.39% from current levels.

ArcelorMittal (MT) estimates and forecasts

Figures show that ArcelorMittal shares have outperformed across the wider relevant industry. The company’s shares have gained 2.83% over the past 6 months, with this year growth rate of 1,807.79%, compared to 14.00% for the industry. Other than that, the company has, however, increased its growth outlook for the 2021 fiscal year revenue. Growth estimates for the current quarter are 2,536.80% and 1,826.30% for the next quarter. Revenue growth from the last financial year stood is estimated to be 46.10%.

4 analysts offering their estimates for the company have set an average revenue estimate of $21.85 billion for the current quarter. 4 have an estimated revenue figure of $20.86 billion for the next quarter concluding in Dec 2021. Year-ago sales stood $13.27 billion and $14.18 billion respectively for this quarter and the next, and analysts expect sales will grow by 64.70% for the current quarter and 47.10% for the next.

If we evaluate the company’s growth over the last 5-year and for the next 5-year period, we find that annual earnings growth was 42.00% over the past 5 years.

MT Dividends

ArcelorMittal is expected to release its next earnings report between February 21 and February 27 this year, and investors are excited at the prospect of better dividends despite the company’s debt issue. The forward dividend is 0.30 at a share yield of 1.01%. The company’s dividend yield has gone up over the past 12 months.

ArcelorMittal (NYSE:MT)’s Major holders

Insiders own 0.00% of the company shares, while shares held by institutions stand at 6.36% with a share float percentage of 6.36%. Investors are also buoyed by the number of investors in a company, with ArcelorMittal having a total of 262 institutions that hold shares in the company. The top two institutional holders are GQG Partners LLC with over 23.75 million shares worth more than $737.82 million. As of Jun 29, 2021, GQG Partners LLC held 2.15% of shares outstanding.

The other major institutional holder is FMR, LLC, with the holding of over 8.72 million shares as of Jun 29, 2021. The firm’s total holdings are worth over $270.97 million and represent 0.79% of shares outstanding.

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Also the top two Mutual Funds that are holding company’s shares are Goldman Sachs GQG Partners International Opportunities Fund and Fidelity Blue Chip Growth Fund. As of Apr 29, 2021, the former fund manager holds about 0.70% shares in the company for having 7.74 million shares of worth $226.83 million while later fund manager owns 2.46 million shares of worth $76.32 million as of Jun 29, 2021, which makes it owner of about 0.22% of company’s outstanding stock.