ArcelorMittal S.A. (NYSE:MT) Receives $31.17 Average Price Target from Analysts

Shares of ArcelorMittal S.A. (NYSE:MT - Get Free Report) have received an average rating of "Moderate Buy" from the five brokerages that are currently covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $31.17.

A number of equities analysts recently commented on the stock. JPMorgan Chase & Co. downgraded shares of ArcelorMittal from an "overweight" rating to a "neutral" rating in a research note on Friday, October 11th. Bank of America raised ArcelorMittal from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $30.00 to $32.90 in a report on Thursday, November 14th.

ArcelorMittal Stock Down 2.9 %

Shares of MT traded down $0.67 during midday trading on Friday, hitting $22.19. The company had a trading volume of 2,202,184 shares, compared to its average volume of 1,709,742. ArcelorMittal has a 1 year low of $20.52 and a 1 year high of $28.95. The firm has a market capitalization of $17.87 billion, a P/E ratio of -15.74, a P/E/G ratio of 0.61 and a beta of 1.75. 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 company's 50-day simple moving average is $24.57 and its 200-day simple moving average is $23.75.

ArcelorMittal (NYSE:MT - Get Free Report) last issued its quarterly earnings results on Thursday, November 7th. The basic materials company reported $0.63 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.58 by $0.05. ArcelorMittal had a negative net margin of 1.99% and a positive return on equity of 5.26%. The company had revenue of $15.20 billion during the quarter, compared to the consensus estimate of $15.11 billion. During the same quarter in the previous year, the firm earned $1.10 earnings per share. The firm's quarterly revenue was down 8.5% on a year-over-year basis. As a group, sell-side analysts expect that ArcelorMittal will post 2.93 EPS for the current year.

Institutional Investors Weigh In On ArcelorMittal

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Bank of New York Mellon Corp lifted its stake in ArcelorMittal by 2,038.3% in 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 purchased a new stake in ArcelorMittal in the 2nd quarter valued at $12,679,000. FMR LLC boosted its stake in ArcelorMittal by 46.7% during the 3rd quarter. FMR LLC now owns 1,317,833 shares of the basic materials company's stock worth $34,606,000 after purchasing an additional 419,465 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its position in ArcelorMittal by 90.5% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 622,335 shares of the basic materials company's stock worth $16,343,000 after purchasing an additional 295,682 shares during the last quarter. Finally, Cerity Partners LLC increased its stake in ArcelorMittal by 128.0% in the third quarter. Cerity Partners LLC now owns 464,315 shares of the basic materials company's stock valued at $12,193,000 after purchasing an additional 260,633 shares during the period. 9.29% of the stock is currently 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.