ArcelorMittal S.A. (NYSE:MT) Receives $31.17 Average Price Target from Analysts

Shares of ArcelorMittal S.A. (NYSE:MT) have been given an average rating of “Moderate Buy” by the five research firms that are covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month price target among analysts that have covered the stock in the last year is $31.17.

A number of equities analysts recently issued reports on MT shares. Bank of America raised ArcelorMittal from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $30.00 to $32.90 in a report on Thursday, November 14th. JPMorgan Chase & Co. lowered ArcelorMittal from an “overweight” rating to a “neutral” rating in a report on Friday, October 11th.

ArcelorMittal Price Performance

Shares of MT stock opened at $25.21 on Tuesday. The firm has a fifty day simple moving average of $23.87 and a 200-day simple moving average of $23.74. ArcelorMittal has a twelve month low of $20.52 and a twelve month high of $28.95. The company has a market capitalization of $20.65 billion, a PE ratio of -17.88, a price-to-earnings-growth ratio of 0.46 and a beta of 1.75. The company has a current ratio of 1.46, a quick ratio of 0.59 and a debt-to-equity ratio of 0.16.

ArcelorMittal (NYSE:MT) last posted its quarterly earnings results on Thursday, November 7th. The basic materials company reported $0.63 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 analyst estimates of $15.11 billion. ArcelorMittal had a negative net margin of 1.99% and a positive return on equity of 5.26%. The company’s quarterly revenue was down 8.5% on a year-over-year basis. During the same period in the previous year, the business posted $1.10 EPS. Equities research analysts anticipate that ArcelorMittal will post 2.63 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. FMR LLC increased its position in shares of ArcelorMittal by 46.7% during the 3rd quarter. FMR LLC now owns 1,317,833 shares of the basic materials company’s stock worth $34,606,000 after purchasing an additional 419,465 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of ArcelorMittal by 90.5% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 622,335 shares of the basic materials company’s stock worth $16,343,000 after purchasing an additional 295,682 shares during the period. Cerity Partners LLC increased its stake in shares of ArcelorMittal by 128.0% in the 3rd quarter. Cerity Partners LLC now owns 464,315 shares of the basic materials company’s stock valued at $12,193,000 after acquiring an additional 260,633 shares during the last quarter. ABC Arbitrage SA bought a new stake in ArcelorMittal in the fourth quarter valued at approximately $9,895,000. Finally, JB Capital Partners LP raised its stake in ArcelorMittal by 17.1% during the 3rd quarter. JB Capital Partners LP now owns 205,000 shares of the basic materials company’s stock worth $5,383,000 after buying an additional 30,000 shares during the period. 9.29% of the stock is currently owned by institutional investors and hedge funds.

ArcelorMittal Company Profile

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.