ArcelorMittal S.A. (NYSE:MT) Receives Consensus Recommendation of "Moderate Buy" from Analysts

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

MT has been the topic of several recent research reports. Bank of America raised ArcelorMittal from a "neutral" rating to a "buy" rating and raised their price target for the stock from $30.00 to $32.90 in a report on Thursday, November 14th. JPMorgan Chase & Co. cut ArcelorMittal from an "overweight" rating to a "neutral" rating in a research note on Friday, October 11th.

ArcelorMittal Stock Down 2.0 %

Shares of MT stock traded down $0.51 during mid-day trading on Tuesday, reaching $24.72. 955,369 shares of the company were exchanged, compared to its average volume of 1,821,194. The company has a market capitalization of $20.25 billion, a P/E ratio of -17.52, a P/E/G ratio of 0.49 and a beta of 1.75. The business's 50 day simple moving average is $23.87 and its 200 day simple moving average is $23.75. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.59 and a current ratio of 1.46. ArcelorMittal has a fifty-two week low of $20.52 and a fifty-two week high of $28.95.

ArcelorMittal (NYSE:MT - Get Free Report) last issued its 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. The business 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%. The company's revenue for the quarter was down 8.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.10 EPS. Research analysts predict that ArcelorMittal will post 2.73 earnings per share for the current year.

Hedge Funds Weigh In On ArcelorMittal

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. ABC Arbitrage SA acquired a new stake in ArcelorMittal during the 4th quarter valued at $9,895,000. Geneos Wealth Management Inc. raised its stake in shares of ArcelorMittal by 89.6% in the fourth quarter. Geneos Wealth Management Inc. now owns 1,134 shares of the basic materials company's stock worth $26,000 after acquiring an additional 536 shares during the last quarter. Janney Montgomery Scott LLC acquired a new position in shares of ArcelorMittal during the fourth quarter worth approximately $233,000. Park Avenue Securities LLC acquired a new stake in shares of ArcelorMittal in the fourth quarter valued at approximately $212,000. Finally, GAMMA Investing LLC lifted its holdings in ArcelorMittal by 68.5% during the 4th quarter. GAMMA Investing LLC now owns 1,464 shares of the basic materials company's stock worth $34,000 after buying an additional 595 shares in the last quarter. 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.