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

Shares of ArcelorMittal S.A. (NYSE:MT) have earned an average recommendation of “Moderate Buy” from the five ratings firms that are currently covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $31.17.

MT has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft raised shares of ArcelorMittal from a “hold” rating to a “buy” rating and boosted their target price for the stock from $29.00 to $31.00 in a research note on Wednesday, August 28th. JPMorgan Chase & Co. lowered ArcelorMittal from an “overweight” rating to a “neutral” rating in a research report on Friday, October 11th. Bank of America upgraded ArcelorMittal from a “neutral” rating to a “buy” rating and increased their target price for the company from $30.00 to $32.90 in a research report on Thursday, November 14th. Finally, Barclays upgraded ArcelorMittal from an “equal weight” rating to an “overweight” rating in a report on Monday, August 19th.

ArcelorMittal Stock Down 0.3 %

NYSE MT opened at $25.29 on Monday. The business has a fifty day moving average price of $24.89 and a two-hundred day moving average price of $23.94. The stock has a market capitalization of $20.37 billion, a PE ratio of -17.94, a PEG ratio of 0.59 and a beta of 1.74. ArcelorMittal has a fifty-two week low of $20.52 and a fifty-two week high of $29.01. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.46 and a quick ratio of 0.59.

ArcelorMittal (NYSE:MT) last posted its earnings results on Thursday, November 7th. The basic materials company reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.05. The firm had revenue of $15.20 billion during the quarter, compared to analysts’ expectations of $15.11 billion. ArcelorMittal had a negative net margin of 1.99% and a positive return on equity of 5.26%. The business’s revenue for the quarter was down 8.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.10 earnings per share. Equities analysts expect that ArcelorMittal will post 3.02 earnings per share for the current fiscal year.

Institutional Investors Weigh In On ArcelorMittal

Institutional investors have recently made changes to their positions in the stock. Blue Trust Inc. increased its position in shares of ArcelorMittal by 1,820.0% during the second quarter. Blue Trust Inc. now owns 2,016 shares of the basic materials company’s stock worth $46,000 after buying an additional 1,911 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in ArcelorMittal by 298.1% in the second quarter. Allspring Global Investments Holdings LLC now owns 2,365 shares of the basic materials company’s stock valued at $54,000 after buying an additional 1,771 shares during the period. CWM LLC boosted its position in ArcelorMittal by 378.2% during the second quarter. CWM LLC now owns 4,930 shares of the basic materials company’s stock valued at $113,000 after acquiring an additional 3,899 shares during the last quarter. SG Americas Securities LLC acquired a new stake in ArcelorMittal during the 2nd quarter worth about $156,000. Finally, Rhumbline Advisers raised its position in shares of ArcelorMittal by 6.8% in the 2nd quarter. Rhumbline Advisers now owns 9,633 shares of the basic materials company’s stock worth $221,000 after acquiring an additional 610 shares in the last quarter. Institutional investors own 9.88% of the company’s stock.

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.