Analysts Set ArcelorMittal S.A. (NYSE:MT) PT at $30.30

Shares of ArcelorMittal S.A. (NYSE:MT - Get Free Report) have been given a consensus recommendation of "Moderate Buy" by the five brokerages that are currently covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $31.17.

A number of equities analysts have recently commented on MT shares. Bank of America upgraded shares of ArcelorMittal from a "neutral" rating to a "buy" rating and raised their price objective for the company from $30.00 to $32.90 in a research report on Thursday. Barclays upgraded shares of ArcelorMittal from an "equal weight" rating to an "overweight" rating in a research report on Monday, August 19th. Deutsche Bank Aktiengesellschaft upgraded shares of ArcelorMittal from a "hold" rating to a "buy" rating and lifted their target price for the company from $29.00 to $31.00 in a research report on Wednesday, August 28th. Finally, JPMorgan Chase & Co. lowered shares of ArcelorMittal from an "overweight" rating to a "neutral" rating in a research report on Friday, October 11th.

ArcelorMittal Stock Up 3.0 %

Shares of MT stock traded up $0.72 on Thursday, hitting $24.49. The stock had a trading volume of 1,698,751 shares, compared to its average volume of 1,611,094. ArcelorMittal has a 12-month low of $20.52 and a 12-month high of $29.01. The business has a 50 day moving average of $24.36 and a 200 day moving average of $24.03. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.46 and a quick ratio of 0.59. The stock has a market cap of $19.72 billion, a price-to-earnings ratio of -17.71, a price-to-earnings-growth ratio of 0.47 and a beta of 1.77.

ArcelorMittal (NYSE:MT - Get Free Report) last posted its earnings results on Thursday, November 7th. The basic materials company reported $0.63 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $15.20 billion during the quarter, compared to the consensus estimate of $15.11 billion. During the same quarter last year, the company earned $1.10 earnings per share. The company's revenue was down 8.5% on a year-over-year basis. As a group, analysts expect that ArcelorMittal will post 3 EPS for the current year.

Hedge Funds Weigh In On ArcelorMittal

A number of hedge funds have recently bought and sold shares of the company. Capstone Investment Advisors LLC bought a new position in ArcelorMittal in the 3rd quarter worth about $292,000. JB Capital Partners LP lifted its stake in ArcelorMittal by 17.1% during the 3rd quarter. JB Capital Partners LP now owns 205,000 shares of the basic materials company's stock valued at $5,383,000 after acquiring an additional 30,000 shares during the period. FORA Capital LLC bought a new position in ArcelorMittal during the 3rd quarter valued at about $445,000. FMR LLC lifted 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 valued at $34,606,000 after acquiring an additional 419,465 shares during the period. Finally, Bank of Montreal Can lifted its stake in ArcelorMittal by 23.1% during the 3rd quarter. Bank of Montreal Can now owns 174,995 shares of the basic materials company's stock valued at $4,543,000 after acquiring an additional 32,834 shares during the period. Institutional investors own 9.88% of the company's stock.

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.