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

ArcelorMittal S.A. (NYSE:MT) has been assigned an average recommendation of “Moderate Buy” from the five brokerages that are presently covering the firm, MarketBeat reports. Two analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $31.17.

A number of research analysts have commented on the company. 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 boosted their price target for the stock from $29.00 to $31.00 in a research report on Wednesday, August 28th. Barclays raised shares of ArcelorMittal from an “equal weight” rating to an “overweight” rating in a research report on Monday, August 19th. Finally, Bank of America raised shares of ArcelorMittal from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $30.00 to $32.90 in a research report on Thursday, November 14th.

ArcelorMittal Price Performance

MT stock opened at $24.71 on Monday. The company has a market cap of $19.90 billion, a PE ratio of -17.52, a price-to-earnings-growth ratio of 0.64 and a beta of 1.74. The company has a current ratio of 1.46, a quick ratio of 0.59 and a debt-to-equity ratio of 0.16. The stock has a 50-day moving average price of $24.85 and a two-hundred day moving average price of $23.95. ArcelorMittal has a 12-month low of $20.52 and a 12-month high of $29.01.

ArcelorMittal (NYSE:MT) last issued its earnings results on Thursday, November 7th. The basic materials company reported $0.63 earnings per share (EPS) for the quarter, topping 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 business had revenue of $15.20 billion during the quarter, compared to analysts’ expectations of $15.11 billion. During the same quarter in the previous year, the business earned $1.10 EPS. The company’s revenue for the quarter was down 8.5% on a year-over-year basis. As a group, research analysts predict that ArcelorMittal will post 2.93 EPS for the current year.

Institutional Investors Weigh In On ArcelorMittal

Several hedge funds and other institutional investors have recently bought and sold shares of the business. FMR LLC lifted its position in shares of ArcelorMittal by 46.7% in the 3rd quarter. FMR LLC now owns 1,317,833 shares of the basic materials company’s stock worth $34,606,000 after buying an additional 419,465 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in ArcelorMittal by 2,038.3% in the second quarter. Bank of New York Mellon Corp now owns 822,426 shares of the basic materials company’s stock valued at $18,858,000 after acquiring an additional 783,965 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of ArcelorMittal by 90.5% during the 3rd 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. Encompass Capital Advisors LLC acquired a new stake in ArcelorMittal in the second quarter worth $12,679,000. Finally, Cerity Partners LLC boosted its holdings in shares of ArcelorMittal by 128.0% during the third 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 period. 9.29% of the stock is currently owned by hedge funds and other institutional investors.

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.