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

Shares of ArcelorMittal S.A. (NYSE:MT) have been given an average recommendation of “Moderate Buy” by the five analysts that are currently covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $31.17.

Several analysts have issued reports on MT shares. JPMorgan Chase & Co. downgraded shares of ArcelorMittal from an “overweight” rating to a “neutral” rating in a report on Friday, October 11th. Bank of America upgraded shares of ArcelorMittal from a “neutral” rating to a “buy” rating and increased their price objective for the company from $30.00 to $32.90 in a research note on Thursday, November 14th.

Institutional Trading of ArcelorMittal

Several hedge funds and other institutional investors have recently modified their holdings of MT. Geneos Wealth Management Inc. lifted its holdings in ArcelorMittal by 89.6% during the 4th 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 during the last quarter. GAMMA Investing LLC grew its position in ArcelorMittal by 68.5% in the fourth quarter. GAMMA Investing LLC now owns 1,464 shares of the basic materials company’s stock valued at $34,000 after purchasing an additional 595 shares in the last quarter. Park Avenue Securities LLC bought a new stake in shares of ArcelorMittal during the 4th quarter worth $212,000. Atria Investments Inc bought a new position in ArcelorMittal during the 3rd quarter worth $244,000. Finally, Blue Trust Inc. boosted its holdings in ArcelorMittal by 382.9% in the third quarter. Blue Trust Inc. now owns 9,735 shares of the basic materials company’s stock valued at $256,000 after acquiring an additional 7,719 shares during the last quarter. 9.29% of the stock is currently owned by hedge funds and other institutional investors.

ArcelorMittal Trading Down 1.5 %

MT opened at $24.34 on Tuesday. ArcelorMittal has a one year low of $20.52 and a one year high of $28.95. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.59 and a current ratio of 1.46. The business’s 50 day moving average price is $23.86 and its 200 day moving average price is $23.76. The stock has a market capitalization of $19.94 billion, a PE ratio of -17.26, a P/E/G ratio of 0.49 and a beta of 1.74.

ArcelorMittal (NYSE:MT) last announced its quarterly earnings results on Thursday, November 7th. The basic materials company reported $0.63 EPS for the quarter, topping the consensus estimate of $0.58 by $0.05. The firm had revenue of $15.20 billion for the quarter, compared to analyst estimates of $15.11 billion. ArcelorMittal had a negative net margin of 1.99% and a positive return on equity of 5.26%. ArcelorMittal’s revenue for the quarter was down 8.5% compared to the same quarter last year. During the same period last year, the business earned $1.10 EPS. As a group, equities research analysts expect that ArcelorMittal will post 2.73 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.