ArcelorMittal S.A. (NYSE:MT) Receives Average Rating of “Moderate Buy” from Analysts

Shares of ArcelorMittal S.A. (NYSE:MT) have received a consensus recommendation of “Moderate Buy” from the six brokerages that are covering the stock, Marketbeat reports. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $31.17.

Several equities research analysts have issued reports on MT shares. Morgan Stanley cut shares of ArcelorMittal from an “overweight” rating to an “equal weight” rating in a research report on Friday, February 14th. Bank of America raised ArcelorMittal from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $30.00 to $32.90 in a research note on Thursday, November 14th.

Hedge Funds Weigh In On ArcelorMittal

Large investors have recently bought and sold shares of the business. Geneos Wealth Management Inc. increased its holdings in shares of ArcelorMittal by 89.6% in the 4th quarter. Geneos Wealth Management Inc. now owns 1,134 shares of the basic materials company’s stock valued at $26,000 after acquiring an additional 536 shares during the period. GAMMA Investing LLC boosted its position in ArcelorMittal by 68.5% during the fourth quarter. GAMMA Investing LLC now owns 1,464 shares of the basic materials company’s stock valued at $34,000 after purchasing an additional 595 shares in the last quarter. BNP Paribas Financial Markets grew its position in shares of ArcelorMittal by 76.2% in the 4th quarter. BNP Paribas Financial Markets now owns 4,878 shares of the basic materials company’s stock worth $113,000 after buying an additional 2,110 shares during the last quarter. Smartleaf Asset Management LLC grew its holdings in ArcelorMittal by 76.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 5,963 shares of the basic materials company’s stock worth $137,000 after purchasing an additional 2,586 shares during the last quarter. Finally, Callan Family Office LLC acquired a new position in ArcelorMittal during the 4th quarter valued at about $207,000. Institutional investors own 9.29% of the company’s stock.

ArcelorMittal Stock Down 0.8 %

Shares of NYSE MT opened at $27.78 on Friday. ArcelorMittal has a 1 year low of $20.52 and a 1 year high of $29.38. The firm has a 50-day simple moving average of $24.54 and a two-hundred day simple moving average of $24.25. The company has a market cap of $22.76 billion, a P/E ratio of 16.83, a PEG ratio of 0.14 and a beta of 1.74. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.35 and a quick ratio of 0.59.

ArcelorMittal (NYSE:MT) last announced its quarterly earnings data on Thursday, February 6th. The basic materials company reported $0.52 EPS for the quarter, missing the consensus estimate of $0.61 by ($0.09). ArcelorMittal had a net margin of 2.14% and a return on equity of 4.31%. Research analysts anticipate that ArcelorMittal will post 3.72 earnings per share for the current 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.