|Bid||30.360 x 1800|
|Ask||30.370 x 1000|
|Day's Range||29.740 - 30.430|
|52 Week Range||24.740 - 37.500|
|PE Ratio (TTM)||6.53|
|Earnings Date||Feb 21, 2017 - Feb 27, 2017|
|Forward Dividend & Yield||0.10 (0.33%)|
|1y Target Est||43.60|
Zacks.com featured highlights include: Magna International, MGM, Domtar, Hitachi and ArcelorMittal
ArcelorMittal (MT) has made several attempts to gain a foothold in Indian steel markets. In the last decade, there have been reports of ArcelorMittal setting up a multibillion-dollar steel project in India. ArcelorMittal also acquired a stake in Indian steelmaker Uttam Galva Steels.
Over the last year, ArcelorMittal (MT) has been looking at acquisitions to further bolster its presence. The company, already the largest steel producer globally, has been looking at new markets like Italy and India, as global steel markets have shown signs of a sustained revival. ArcelorMittal is no stranger to mergers and acquisitions.
Among the analysts surveyed by Thomas Reuters on July 6, nine analysts rate ArcelorMittal (MT) as a “strong buy,” seven analysts rate the stock as a “buy,” one analyst rates the stock as a “hold,” and one analyst rates the stock as a “sell.” The stock has the highest percentage of “buy” ratings among the steel stocks that we’re covering in this series. ArcelorMittal has received a mean consensus target price of 34.7 euros, which represents a 36.3% upside over its closing prices on July 6. U.S. Steel Corporation (X) and AK Steel (AKS) are trading 32.6% and 23.0%, respectively, below their consensus target prices.
As the steel industry fundamentals are improving, it would be prudent to invest in steel stocks that are poised to run higher in the second half.
With global exporters looking to divert steel meant for the U.S., Canada is considering quotas and tariffs on imports.
Four stocks have been lined up for observation, and they are: AK Steel Holding Corp. (NYSE: AKS), ArcelorMittal (NYSE: MT), Commercial Metals Co. (NYSE: CMC), and Companhia Siderurgica Nacional (NYSE: SID). West Chester, Ohio headquartered AK Steel Holding Corp.'s shares jumped 4.50%, finishing last Friday's session at $4.88.
Indicators of macroeconomic and market conditions in both the United States and Poland suggest economic growth and robust long steel product demand, which bodes well for Commercial Metal (CMC).
20 June 2018 - ArcelorMittal ('the Company') has today filed its 2017 report on Payments to Governments in respect of Extractive Activities, which provides a consolidated overview of payments made by the Company and its subsidiaries in 2017 to governments regarding its mining operations. ArcelorMittal is the world's leading steel and mining company, with a presence in 60 countries and an industrial footprint in 18 countries. Guided by a philosophy to produce safe, sustainable steel, we are the leading supplier of quality steel in the major global steel markets including automotive, construction, household appliances and packaging, with world-class research and development and outstanding distribution networks.
According to the AISI (American Iron and Steel Institute), US steel production rose 0.3% YoY (year-over-year) in the week ended June 9. Although US steel production has gained traction over the last couple of months, it has risen only 1.8% YoY so far this year. The US steel industry’s capacity utilization rate is also languishing at 74.8%—way below the 80% utilization rate the Commerce Department intends to achieve with the Section 232 tariffs.
Solid earnings performance, upbeat outlook and the company's internal initiatives have contributed to a rally in ArcelorMittal's (MT) shares.
ArcelorMittal's (MT) latest move supports decarbonization of the transport sector and will enable it to revolutionize blast furnace carbon emissions capture.
NEW YORK, June 13, 2018-- In new independent research reports released early this morning, Fundamental Markets released its latest key findings for all current investors, traders, and shareholders of CarGurus, ...