ArcelorMittal S.A. (NYSE:MT) Receives Average Rating of “Moderate Buy” from Analysts

Shares of ArcelorMittal S.A. (NYSE:MT) have been assigned a consensus recommendation of “Moderate Buy” from the four brokerages that are covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $30.30.

MT has been the subject of several recent analyst reports. Barclays raised shares of ArcelorMittal from an “equal weight” rating to an “overweight” rating in a research note on Monday, August 19th. JPMorgan Chase & Co. cut ArcelorMittal from an “overweight” rating to a “neutral” rating in a research note on Friday, October 11th. Deutsche Bank Aktiengesellschaft raised ArcelorMittal from a “hold” rating to a “buy” rating and raised their price target for the stock from $29.00 to $31.00 in a research report on Wednesday, August 28th. Finally, Bank of America upgraded ArcelorMittal from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $30.00 to $32.90 in a research report on Thursday.

Institutional Investors Weigh In On ArcelorMittal

Hedge funds and other institutional investors have recently bought and sold shares of the company. Blue Trust Inc. increased its stake in ArcelorMittal by 1,820.0% in the 2nd quarter. Blue Trust Inc. now owns 2,016 shares of the basic materials company’s stock valued at $46,000 after buying an additional 1,911 shares during the last quarter. Mather Group LLC. increased its position in shares of ArcelorMittal by 1,388.6% in the second quarter. Mather Group LLC. now owns 2,218 shares of the basic materials company’s stock valued at $51,000 after acquiring an additional 2,069 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in ArcelorMittal by 298.1% during the second quarter. Allspring Global Investments Holdings LLC now owns 2,365 shares of the basic materials company’s stock worth $54,000 after acquiring an additional 1,771 shares in the last quarter. Headlands Technologies LLC acquired a new position in ArcelorMittal during the first quarter valued at approximately $71,000. Finally, CWM LLC increased its position in shares of ArcelorMittal by 378.2% during the 2nd quarter. CWM LLC now owns 4,930 shares of the basic materials company’s stock worth $113,000 after purchasing an additional 3,899 shares during the last quarter. Institutional investors and hedge funds own 9.88% of the company’s stock.

ArcelorMittal Stock Down 2.3 %

Shares of NYSE:MT opened at $23.78 on Thursday. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.46 and a quick ratio of 0.59. The stock has a market cap of $19.15 billion, a price-to-earnings ratio of -16.86, a P/E/G ratio of 0.47 and a beta of 1.77. The company has a 50 day moving average of $24.36 and a 200-day moving average of $24.03. ArcelorMittal has a one year low of $20.52 and a one year high of $29.01.

ArcelorMittal (NYSE:MT) last posted its quarterly earnings results on Thursday, November 7th. The basic materials company reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.05. ArcelorMittal had a positive return on equity of 5.26% and a negative net margin of 1.99%. The company had revenue of $15.20 billion for the quarter, compared to the consensus estimate of $15.11 billion. During the same quarter in the prior year, the business posted $1.10 EPS. The firm’s quarterly revenue was down 8.5% on a year-over-year basis. On average, sell-side analysts forecast that ArcelorMittal will post 3 earnings per share for the current year.

About ArcelorMittal

ArcelorMittal SA, together with its subsidiaries, operates as integrated steel and mining companies in the United States, Europe, and internationally. It offers semi-finished flat products, including slabs; finished flat products comprising plates, hot- and cold-rolled coils and sheets, hot-dipped and electro-galvanized coils and sheets, tinplate, and color coated coils and sheets; semi-finished long products, such as blooms and billets; finished long products consisting of bars, wire-rods, structural sections, rails, sheet piles, and wire-products; and seamless and welded pipes and tubes.