ArcelorMittal S.A. (NYSE:MT) Receives $32.95 Average Target Price from Brokerages

ArcelorMittal S.A. (NYSE:MTGet Free Report) has been given an average recommendation of “Moderate Buy” by the seven ratings firms that are covering the stock, MarketBeat Ratings reports. Three analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $32.95.

A number of brokerages recently commented on MT. Morgan Stanley downgraded ArcelorMittal from an “overweight” rating to an “equal weight” rating in a report on Friday, February 14th. Jefferies Financial Group cut ArcelorMittal from a “buy” rating to a “hold” rating and set a $36.20 price objective on the stock. in a research report on Wednesday, March 26th. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of ArcelorMittal in a research report on Monday. Finally, The Goldman Sachs Group raised ArcelorMittal from a “neutral” rating to a “buy” rating and raised their price objective for the company from $29.00 to $31.70 in a research report on Thursday, April 10th.

Check Out Our Latest Report on MT

ArcelorMittal Stock Up 0.7 %

Shares of NYSE:MT opened at $26.91 on Friday. The firm has a fifty day moving average of $29.06 and a 200 day moving average of $26.00. ArcelorMittal has a 52-week low of $20.52 and a 52-week high of $34.90. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.59 and a current ratio of 1.35. The firm has a market capitalization of $22.05 billion, a PE ratio of 16.31, a price-to-earnings-growth ratio of 0.14 and a beta of 1.60.

ArcelorMittal (NYSE:MTGet Free Report) last posted its quarterly earnings results on Thursday, February 6th. The basic materials company reported $0.52 EPS for the quarter, missing the consensus estimate of $0.61 by ($0.09). ArcelorMittal had a return on equity of 4.31% and a net margin of 2.14%. As a group, research analysts anticipate that ArcelorMittal will post 3.72 EPS for the current fiscal year.

ArcelorMittal Dividend Announcement

The firm also recently declared a semi-annual dividend, which will be paid on Wednesday, December 3rd. Stockholders of record on Thursday, November 13th will be paid a dividend of $0.275 per share. This represents a dividend yield of 1.5%. The ex-dividend date of this dividend is Wednesday, November 12th. ArcelorMittal’s dividend payout ratio is presently 27.88%.

Institutional Investors Weigh In On ArcelorMittal

Institutional investors have recently bought and sold shares of the business. GAMMA Investing LLC grew its stake in ArcelorMittal by 31.1% during the first quarter. GAMMA Investing LLC now owns 1,920 shares of the basic materials company’s stock valued at $55,000 after acquiring an additional 456 shares in the last quarter. Geneos Wealth Management Inc. grew its holdings in shares of ArcelorMittal by 89.6% in the fourth quarter. Geneos Wealth Management Inc. now owns 1,134 shares of the basic materials company’s stock valued at $26,000 after purchasing an additional 536 shares in the last quarter. US Bancorp DE increased its holdings in shares of ArcelorMittal by 5.0% in the 4th quarter. US Bancorp DE now owns 15,085 shares of the basic materials company’s stock worth $349,000 after buying an additional 717 shares during the last quarter. Dorsey & Whitney Trust CO LLC grew its position in ArcelorMittal by 9.1% in the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 9,545 shares of the basic materials company’s stock worth $221,000 after acquiring an additional 797 shares in the last quarter. Finally, United Capital Financial Advisors LLC increased its stake in ArcelorMittal by 11.5% during the fourth quarter. United Capital Financial Advisors LLC now owns 10,940 shares of the basic materials company’s stock worth $253,000 after acquiring an additional 1,129 shares during the last quarter. Hedge funds and other institutional investors own 9.29% of the company’s stock.

About ArcelorMittal

(Get Free Report

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.

Further Reading

Analyst Recommendations for ArcelorMittal (NYSE:MT)

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