ArcelorMittal S.A. (NYSE:MT) Receives $31.17 Consensus PT from Analysts

Shares of ArcelorMittal S.A. (NYSE:MT) have earned an average recommendation of “Moderate Buy” from the five analysts that are presently covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $31.17.

MT has been the subject of several analyst reports. JPMorgan Chase & Co. cut ArcelorMittal from an “overweight” rating to a “neutral” rating in a report on Friday, October 11th. Bank of America raised shares of ArcelorMittal from a “neutral” rating to a “buy” rating and upped their price objective for the company from $30.00 to $32.90 in a report on Thursday, November 14th.

ArcelorMittal Stock Down 2.9 %

Shares of NYSE MT opened at $22.19 on Friday. The stock has a market cap of $17.87 billion, a PE ratio of -15.74, a P/E/G ratio of 0.61 and a beta of 1.75. The company has a current ratio of 1.46, a quick ratio of 0.59 and a debt-to-equity ratio of 0.16. ArcelorMittal has a 12-month low of $20.52 and a 12-month high of $28.95. The company has a 50-day moving average of $24.54 and a 200 day moving average of $23.74.

ArcelorMittal (NYSE:MT) last posted its quarterly earnings results on Thursday, November 7th. The basic materials company reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.05. ArcelorMittal had a positive return on equity of 5.26% and a negative net margin of 1.99%. The business had revenue of $15.20 billion during the quarter, compared to analyst estimates of $15.11 billion. During the same period in the prior year, the business earned $1.10 earnings per share. The business’s revenue was down 8.5% compared to the same quarter last year. As a group, sell-side analysts predict that ArcelorMittal will post 2.93 EPS for the current fiscal year.

Institutional Trading of ArcelorMittal

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Raymond James & Associates increased its holdings in ArcelorMittal by 32.7% in the 2nd quarter. Raymond James & Associates now owns 58,194 shares of the basic materials company’s stock valued at $1,334,000 after purchasing an additional 14,338 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of ArcelorMittal by 2,038.3% in the 2nd 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 period. Allspring Global Investments Holdings LLC lifted its stake in 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 worth $54,000 after acquiring an additional 1,771 shares in the last quarter. Crossmark Global Holdings Inc. boosted its holdings in ArcelorMittal by 4.6% during the 2nd quarter. Crossmark Global Holdings Inc. now owns 12,927 shares of the basic materials company’s stock valued at $296,000 after acquiring an additional 572 shares during the period. Finally, Natixis Advisors LLC boosted its holdings in ArcelorMittal by 70.8% during the 2nd quarter. Natixis Advisors LLC now owns 47,936 shares of the basic materials company’s stock valued at $1,099,000 after acquiring an additional 19,865 shares during the period. 9.29% of the stock is owned by institutional investors and hedge funds.

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.