JP Morgan lifts ArcelorMittal [MT] price estimate. Who else is bullish?

ArcelorMittal [NYSE: MT] stock went on a downward path that fall over -0.24% on Tuesday, amounting to a one-week price decrease of less than -7.50%. The company report on June 18, 2021 that ArcelorMittal announces closing of its second share buyback program and launching of a third US$750 million share buyback program.

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18 June 2021, 15:50 CET.

ArcelorMittal (or the ‘Company’) announces that it has completed the second share buyback program announced on 4 March 2021 under the authorization given by the annual general meeting of shareholders of 13 June 2020 (the ‘2020 AGM Authorization’) and 8 June 2021 (the ‘2021 AGM Authorization’).

Over the last 12 months, MT stock rose by 176.19%. The one-year ArcelorMittal stock forecast points to a potential upside of 25.53. The average equity rating for MT stock is currently 1.80, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $33.00 billion, with 1.18 billion shares outstanding and 653.43 million shares in the current float. Compared to the average trading volume of 5.26M shares, MT stock reached a trading volume of 3264666 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on ArcelorMittal [MT]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for MT shares is $39.09 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on MT stock is a recommendation set at 1.80. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

JP Morgan have made an estimate for ArcelorMittal shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on January 25, 2021. The new note on the price target was released on January 19, 2021, representing the official price target for ArcelorMittal stock.

The Average True Range (ATR) for ArcelorMittal is set at 0.98, with the Price to Sales ratio for MT stock in the period of the last 12 months amounting to 0.60. The Price to Book ratio for the last quarter was 0.86, with the Price to Cash per share for the same quarter was set at 4.83. Price to Free Cash Flow for MT in the course of the last twelve months was 15.54 with Quick ratio for the last quarter at 0.70.

MT Stock Performance Analysis:

ArcelorMittal [MT] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -7.50. With this latest performance, MT shares dropped by -5.49% in over the last four-week period, additionally plugging by 26.79% over the last 6 months – not to mention a rise of 176.19% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for MT stock in for the last two-week period is set at 37.67, with the RSI for the last a single of trading hit 32.25, and the three-weeks RSI is set at 42.23 for ArcelorMittal [MT]. The present Moving Average for the last 50 days of trading for this stock 31.21, while it was recorded at 29.13 for the last single week of trading, and 23.04 for the last 200 days.

Insight into ArcelorMittal Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and ArcelorMittal [MT] shares currently have an operating margin of +6.45 and a Gross Margin at +10.25. ArcelorMittal’s Net Margin is presently recorded at -1.38.

Return on Total Capital for MT is now 6.57, given the latest momentum, and Return on Invested Capital for the company is -1.53. Return on Equity for this stock declined to -1.98, with Return on Assets sitting at -0.88. When it comes to the capital structure of this company, ArcelorMittal [MT] has a Total Debt to Total Equity ratio set at 35.15. Additionally, MT Total Debt to Total Capital is recorded at 26.01, with Total Debt to Total Assets ending up at 16.04. Long-Term Debt to Equity for the company is recorded at 28.46, with the Long-Term Debt to Total Capital now at 21.06.

Reflecting on the efficiency of the workforce at the company, ArcelorMittal [MT] managed to generate an average of -$3,833 per employee. Receivables Turnover for the company is 11.53 with a Total Asset Turnover recorded at a value of 0.64.ArcelorMittal’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.70 and a Current Ratio set at 1.30.

MT Stock EPS

With the latest financial reports released by the company, ArcelorMittal posted -0.3/share EPS, while the average EPS was predicted by analysts to be reported at -0.5/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 40.00%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for MT.

ArcelorMittal [MT] Insider Position Details

There are presently around $1,647 million, or 5.20% of MT stock, in the hands of institutional investors. The top three institutional holders of MT stocks are: GQG PARTNERS LLC with ownership of 12,409,551, which is approximately New of the company’s market cap and around 44.80% of the total institutional ownership; FMR LLC, holding 7,224,268 shares of the stock with an approximate value of $210.8 million in MT stocks shares; and CLEARBRIDGE INVESTMENTS, LLC, currently with $85.64 million in MT stock with ownership of nearly -0.412% of the company’s market capitalization.

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Positions in ArcelorMittal stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 133 institutional holders increased their position in ArcelorMittal [NYSE:MT] by around 30,018,863 shares. Additionally, 63 investors decreased positions by around 21,019,207 shares, while 27 investors held positions by with 5,415,909 shares. The mentioned changes placed institutional holdings at 56,453,979 shares, according to the latest SEC report filing. MT stock had 81 new institutional investments in for a total of 19,423,636 shares, while 17 institutional investors sold positions of 5,493,827 shares during the same period.

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