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

Shares of ArcelorMittal S.A. (NYSE:MT) have earned a consensus recommendation of “Hold” from the five analysts that are currently covering the firm, MarketBeat.com reports. Three research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $30.30.

A number of analysts have weighed in on the stock. 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. cut ArcelorMittal from an “overweight” rating to a “neutral” rating in a report on Friday. Finally, Barclays raised ArcelorMittal from an “equal weight” rating to an “overweight” rating in a research note on Monday, August 19th.

ArcelorMittal Trading Up 0.4 %

Shares of NYSE:MT opened at $24.85 on Tuesday. The business’s 50 day simple moving average is $23.43 and its 200 day simple moving average is $24.38. ArcelorMittal has a 1 year low of $20.52 and a 1 year high of $29.01. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.53 and a quick ratio of 0.66. The company has a market capitalization of $20.01 billion, a P/E ratio of 27.92, a P/E/G ratio of 0.53 and a beta of 1.77.

ArcelorMittal (NYSE:MT) last posted its quarterly earnings data on Thursday, August 1st. The basic materials company reported $0.63 earnings per share for the quarter, missing the consensus estimate of $1.12 by ($0.49). ArcelorMittal had a positive return on equity of 6.00% and a negative net margin of 0.93%. The firm had revenue of $16.25 billion for the quarter, compared to the consensus estimate of $16.32 billion. During the same period in the prior year, the company earned $2.20 EPS. The company’s revenue for the quarter was down 12.7% compared to the same quarter last year. On average, research analysts anticipate that ArcelorMittal will post 3 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Maple Rock Capital Partners Inc. acquired a new position in ArcelorMittal during the 1st quarter valued at about $36,406,000. Bank of New York Mellon Corp boosted its position in shares of ArcelorMittal by 2,038.3% during 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 buying an additional 783,965 shares during the last quarter. Encompass Capital Advisors LLC bought a new stake in ArcelorMittal during the second quarter worth $12,679,000. MMCAP International Inc. SPC raised its position in ArcelorMittal by 103.4% in the 1st quarter. MMCAP International Inc. SPC now owns 650,820 shares of the basic materials company’s stock valued at $17,950,000 after buying an additional 330,820 shares during the last quarter. Finally, BNP Paribas Financial Markets bought a new position in ArcelorMittal during the 1st quarter valued at $2,705,000. 9.88% of the stock is owned by institutional investors and hedge funds.

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.