ArcelorMittal S.A. (NYSE:MT) Receives $30.30 Average Target Price from Brokerages

Shares of ArcelorMittal S.A. (NYSE:MT) have been given an average rating of “Moderate Buy” by the five ratings firms that are covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $31.17.

Several research firms recently issued reports on MT. 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 shares of ArcelorMittal from a “neutral” rating to a “buy” rating and upped their price target for the company from $30.00 to $32.90 in a report on Thursday, November 14th. Barclays raised shares of ArcelorMittal from an “equal weight” rating to an “overweight” rating in a research note on Monday, August 19th. Finally, Deutsche Bank Aktiengesellschaft raised ArcelorMittal from a “hold” rating to a “buy” rating and raised their target price for the stock from $29.00 to $31.00 in a research note on Wednesday, August 28th.

ArcelorMittal Stock Performance

ArcelorMittal stock opened at $25.56 on Thursday. ArcelorMittal has a fifty-two week low of $20.52 and a fifty-two week high of $29.01. The firm’s fifty day moving average price is $24.53 and its 200-day moving average price is $24.03. The stock has a market cap of $20.58 billion, a P/E ratio of -18.12, a price-to-earnings-growth ratio of 0.49 and a beta of 1.77. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.59 and a current ratio of 1.46.

ArcelorMittal (NYSE:MT) last announced its quarterly earnings data on Thursday, November 7th. The basic materials company reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.05. The company had revenue of $15.20 billion for the quarter, compared to analysts’ expectations of $15.11 billion. ArcelorMittal had a positive return on equity of 5.26% and a negative net margin of 1.99%. ArcelorMittal’s revenue for the quarter was down 8.5% compared to the same quarter last year. During the same period last year, the firm posted $1.10 EPS. On average, equities research analysts expect that ArcelorMittal will post 2.99 earnings per share for the current fiscal year.

Institutional Trading of ArcelorMittal

Several institutional investors have recently added to or reduced their stakes in the business. Sei Investments Co. grew its stake in shares of ArcelorMittal by 24.1% in the first quarter. Sei Investments Co. now owns 18,281 shares of the basic materials company’s stock worth $504,000 after acquiring an additional 3,553 shares during the period. Headlands Technologies LLC bought a new stake in ArcelorMittal in the 1st quarter worth approximately $71,000. MMCAP International Inc. SPC raised its stake in ArcelorMittal by 103.4% during 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. Maple Rock Capital Partners Inc. purchased a new stake in ArcelorMittal during the 1st quarter valued at $36,406,000. Finally, Robotti Robert bought a new position in shares of ArcelorMittal during the 1st quarter valued at $1,435,000. 9.88% of the stock is currently 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.