Brokerages Set ArcelorMittal S.A. (NYSE:MT) Price Target at $30.30

Shares of ArcelorMittal S.A. (NYSE:MT) have received an average recommendation of “Moderate Buy” from the five ratings firms that are covering the company, MarketBeat.com reports. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12-month target price among brokers that have covered the stock in the last year is $30.30.

A number of research firms have recently weighed in on MT. Barclays raised ArcelorMittal from an “equal weight” rating to an “overweight” rating in a research report on Monday, August 19th. Deutsche Bank Aktiengesellschaft upgraded ArcelorMittal from a “hold” rating to a “buy” rating and upped their price target for the stock from $29.00 to $31.00 in a report on Wednesday, August 28th.

ArcelorMittal Trading Up 0.6 %

Shares of ArcelorMittal stock opened at $24.76 on Tuesday. 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 quick ratio of 0.66 and a current ratio of 1.53. The firm has a market capitalization of $19.94 billion, a price-to-earnings ratio of 27.82, a PEG ratio of 0.44 and a beta of 1.77. The stock has a 50 day moving average of $23.28 and a 200 day moving average of $24.40.

ArcelorMittal (NYSE:MT) last released its quarterly earnings results on Thursday, August 1st. The basic materials company reported $0.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.12 by ($0.49). The company had revenue of $16.25 billion during the quarter, compared to analysts’ expectations of $16.32 billion. ArcelorMittal had a negative net margin of 0.93% and a positive return on equity of 6.00%. ArcelorMittal’s revenue was down 12.7% on a year-over-year basis. During the same period last year, the firm posted $2.20 earnings per share. As a group, research analysts predict that ArcelorMittal will post 3.14 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Blue Trust Inc. grew its stake in shares of ArcelorMittal by 1,820.0% in the 2nd quarter. Blue Trust Inc. now owns 2,016 shares of the basic materials company’s stock valued at $46,000 after purchasing an additional 1,911 shares during the last quarter. Mather Group LLC. increased its stake in 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 buying an additional 2,069 shares during the period. Allspring Global Investments Holdings LLC increased its stake in ArcelorMittal by 298.1% in 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 buying an additional 1,771 shares during the period. Headlands Technologies LLC purchased a new position in ArcelorMittal during the 1st quarter worth $71,000. Finally, CWM LLC lifted its stake in shares of ArcelorMittal by 378.2% in the 2nd quarter. CWM LLC now owns 4,930 shares of the basic materials company’s stock worth $113,000 after acquiring an additional 3,899 shares during the period. 9.88% of the stock is owned by hedge funds and other institutional investors.

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.