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

ArcelorMittal S.A. (NYSE:MT) has received a consensus recommendation of “Moderate Buy” from the five analysts that are presently covering the firm, Marketbeat reports. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $31.17.

Several analysts have recently commented on MT shares. Barclays upgraded shares of ArcelorMittal from an “equal weight” rating to an “overweight” rating in a research report on Monday, August 19th. Bank of America upgraded 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 research report on Thursday, November 14th. 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 report on Wednesday, August 28th. Finally, JPMorgan Chase & Co. lowered ArcelorMittal from an “overweight” rating to a “neutral” rating in a research report on Friday, October 11th.

Institutional Investors Weigh In On ArcelorMittal

A number of institutional investors have recently added to or reduced their stakes in the stock. Blue Trust Inc. raised its holdings in shares of ArcelorMittal by 1,820.0% in 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 last quarter. Mather Group LLC. lifted its stake in shares of ArcelorMittal by 1,388.6% in the 2nd quarter. Mather Group LLC. now owns 2,218 shares of the basic materials company’s stock valued at $51,000 after purchasing an additional 2,069 shares during the period. Allspring Global Investments Holdings LLC grew its position in shares of ArcelorMittal by 298.1% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 2,365 shares of the basic materials company’s stock valued at $54,000 after acquiring an additional 1,771 shares during the period. Headlands Technologies LLC purchased a new stake in shares of ArcelorMittal during the first quarter worth about $71,000. Finally, CWM LLC raised its position in shares of ArcelorMittal by 378.2% during the 2nd quarter. CWM LLC now owns 4,930 shares of the basic materials company’s stock worth $113,000 after purchasing an additional 3,899 shares during the last quarter. Institutional investors own 9.88% of the company’s stock.

ArcelorMittal Price Performance

Shares of NYSE:MT opened at $25.56 on Thursday. The company has a quick ratio of 0.59, a current ratio of 1.46 and a debt-to-equity ratio of 0.16. The stock has a market capitalization of $20.58 billion, a PE ratio of -18.12, a price-to-earnings-growth ratio of 0.49 and a beta of 1.77. The firm’s 50 day moving average price is $24.53 and its 200-day moving average price is $24.03. ArcelorMittal has a twelve month low of $20.52 and a twelve month high of $29.01.

ArcelorMittal (NYSE:MT) last released its quarterly earnings results on Thursday, November 7th. The basic materials company reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.05. ArcelorMittal had a negative net margin of 1.99% and a positive return on equity of 5.26%. The business had revenue of $15.20 billion for the quarter, compared to the consensus estimate of $15.11 billion. During the same period last year, the firm earned $1.10 earnings per share. The company’s quarterly revenue was down 8.5% on a year-over-year basis. Equities research analysts expect that ArcelorMittal will post 2.99 EPS 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.