ArcelorMittal S.A. (NYSE:MT) Receives $31.17 Consensus PT from Analysts

Shares of ArcelorMittal S.A. (NYSE:MT) have earned an average recommendation of “Moderate Buy” from the five brokerages that are presently covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1-year price target among brokerages that have covered the stock in the last year is $31.17.

Several research firms have recently weighed in on MT. JPMorgan Chase & Co. lowered shares of ArcelorMittal from an “overweight” rating to a “neutral” rating in a report on Friday, October 11th. Bank of America raised shares of ArcelorMittal from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $30.00 to $32.90 in a report on Thursday, November 14th.

Hedge Funds Weigh In On ArcelorMittal

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Crossmark Global Holdings Inc. lifted its stake in ArcelorMittal by 4.6% in the 2nd quarter. Crossmark Global Holdings Inc. now owns 12,927 shares of the basic materials company’s stock valued at $296,000 after buying an additional 572 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of ArcelorMittal by 68.5% during the fourth quarter. GAMMA Investing LLC now owns 1,464 shares of the basic materials company’s stock valued at $34,000 after acquiring an additional 595 shares during the last quarter. Rhumbline Advisers lifted its position in shares of ArcelorMittal by 6.8% in the second quarter. Rhumbline Advisers now owns 9,633 shares of the basic materials company’s stock valued at $221,000 after acquiring an additional 610 shares in the last quarter. Pzena Investment Management LLC boosted its stake in shares of ArcelorMittal by 4.0% in the second quarter. Pzena Investment Management LLC now owns 25,085 shares of the basic materials company’s stock worth $575,000 after acquiring an additional 963 shares during the last quarter. Finally, Eagle Asset Management Inc. increased its position in shares of ArcelorMittal by 11.2% during the third quarter. Eagle Asset Management Inc. now owns 16,008 shares of the basic materials company’s stock worth $418,000 after purchasing an additional 1,615 shares in the last quarter. 9.29% of the stock is owned by hedge funds and other institutional investors.

ArcelorMittal Trading Down 2.9 %

NYSE MT opened at $22.19 on Friday. ArcelorMittal has a 1 year low of $20.52 and a 1 year high of $28.95. 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 company has a market capitalization of $17.87 billion, a PE ratio of -15.74, a P/E/G ratio of 0.61 and a beta of 1.75. The company has a fifty day moving average of $24.54 and a 200 day moving average of $23.74.

ArcelorMittal (NYSE:MT) last issued its quarterly earnings data on Thursday, November 7th. The basic materials company reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.05. The business had revenue of $15.20 billion during the quarter, compared to analysts’ expectations of $15.11 billion. ArcelorMittal had a positive return on equity of 5.26% and a negative net margin of 1.99%. The company’s revenue for the quarter was down 8.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.10 EPS. Research analysts forecast that ArcelorMittal will post 2.93 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.