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

ArcelorMittal S.A. (NYSE:MT - Get Free Report) has been given a consensus recommendation of "Moderate Buy" by the five brokerages that are currently covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $31.17.

Several research analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft upgraded shares of ArcelorMittal from a "hold" rating to a "buy" rating and boosted their price target for the stock from $29.00 to $31.00 in a report on Wednesday, August 28th. Bank of America upgraded shares of ArcelorMittal from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $30.00 to $32.90 in a report on Thursday, November 14th. Barclays upgraded shares of ArcelorMittal from an "equal weight" rating to an "overweight" rating in a report on Monday, August 19th. Finally, JPMorgan Chase & Co. cut shares of ArcelorMittal from an "overweight" rating to a "neutral" rating in a report on Friday, October 11th.

Institutional Trading of ArcelorMittal

Several hedge funds have recently added to or reduced their stakes in the stock. Oppenheimer Asset Management Inc. raised its position in shares of ArcelorMittal by 154.7% in the third quarter. Oppenheimer Asset Management Inc. now owns 57,106 shares of the basic materials company's stock valued at $1,500,000 after purchasing an additional 34,688 shares during the period. Natixis Advisors LLC raised its position in shares of ArcelorMittal by 171.4% in the third quarter. Natixis Advisors LLC now owns 130,100 shares of the basic materials company's stock valued at $3,416,000 after purchasing an additional 82,164 shares during the period. Wealth Enhancement Advisory Services LLC bought a new stake in shares of ArcelorMittal in the third quarter valued at approximately $642,000. Envestnet Asset Management Inc. raised its position in shares of ArcelorMittal by 61.0% in the second quarter. Envestnet Asset Management Inc. now owns 85,710 shares of the basic materials company's stock valued at $1,965,000 after purchasing an additional 32,469 shares during the period. Finally, Blue Trust Inc. raised its position in shares of ArcelorMittal by 1,820.0% in the second quarter. Blue Trust Inc. now owns 2,016 shares of the basic materials company's stock valued at $46,000 after purchasing an additional 1,911 shares during the period. Institutional investors own 9.29% of the company's stock.

ArcelorMittal Stock Performance

Shares of NYSE MT traded up $0.46 during mid-day trading on Monday, reaching $25.75. 1,409,645 shares of the company's stock traded hands, compared to its average volume of 1,602,083. The business has a 50-day simple moving average of $24.89 and a 200 day simple moving average of $23.94. ArcelorMittal has a 1-year low of $20.52 and a 1-year high of $29.01. The company has a quick ratio of 0.59, a current ratio of 1.46 and a debt-to-equity ratio of 0.16.

ArcelorMittal (NYSE:MT - Get Free Report) last issued its quarterly earnings data 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 firm had revenue of $15.20 billion during the quarter, compared to analysts' expectations of $15.11 billion. ArcelorMittal had a negative net margin of 1.99% and a positive return on equity of 5.26%. The business's revenue was down 8.5% on a year-over-year basis. During the same period last year, the company earned $1.10 earnings per share. As a group, sell-side analysts anticipate that ArcelorMittal will post 3.02 EPS for the current fiscal 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.