ArcelorMittal (NYSE:MT) Receives $74.80 Average Target Price from Analysts

Shares of ArcelorMittal (NYSE:MT) have earned an average recommendation of “Hold” from the twelve research firms that are covering the firm, MarketBeat reports. Seven equities research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $74.80.

A number of equities analysts have recently issued reports on the company. Jefferies Financial Group reissued a “buy” rating on shares of ArcelorMittal in a report on Monday, July 6th. Weiss Ratings upgraded ArcelorMittal from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, September 11th. JPMorgan Chase & Co. raised shares of ArcelorMittal from an “underweight” rating to a “neutral” rating in a report on Friday, July 10th. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of ArcelorMittal in a research report on Friday, September 4th. Finally, Morgan Stanley began coverage on ArcelorMittal in a report on Monday, August 24th. They issued an “overweight” rating and a $82.00 target price on the stock.

ArcelorMittal Price Performance

NYSE:MT opened at $73.75 on Friday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.57 and a current ratio of 1.43. The company has a 50-day moving average of $72.30 and a 200-day moving average of $64.80. ArcelorMittal has a 52 week low of $35.61 and a 52 week high of $79.68. The company has a market capitalization of $57.16 billion, a price-to-earnings ratio of 31.25, a PEG ratio of 0.52 and a beta of 1.55.

ArcelorMittal (NYSE:MT) last posted its quarterly earnings results on Thursday, July 30th. The basic materials company reported $0.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.18 by ($0.28). The business had revenue of $16.76 billion during the quarter, compared to analyst estimates of $17.56 billion. ArcelorMittal had a return on equity of 4.20% and a net margin of 2.88%.The business’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same period last year, the company earned $1.32 EPS. As a group, equities research analysts anticipate that ArcelorMittal will post 4.41 earnings per share for the current fiscal year.

Institutional Trading of ArcelorMittal

A number of hedge funds and other institutional investors have recently made changes to their positions in MT. Aaron Wealth Advisors LLC raised its holdings in shares of ArcelorMittal by 4.9% during the first quarter. Aaron Wealth Advisors LLC now owns 5,671 shares of the basic materials company’s stock worth $295,000 after acquiring an additional 263 shares during the period. GC Wealth Management RIA LLC boosted its stake in ArcelorMittal by 4.2% in the 1st quarter. GC Wealth Management RIA LLC now owns 10,186 shares of the basic materials company’s stock worth $529,000 after purchasing an additional 413 shares during the period. Allworth Financial LP boosted its stake in ArcelorMittal by 91.5% in the 4th quarter. Allworth Financial LP now owns 1,126 shares of the basic materials company’s stock worth $51,000 after purchasing an additional 538 shares during the period. EverSource Wealth Advisors LLC increased its holdings in ArcelorMittal by 19.2% during the 4th quarter. EverSource Wealth Advisors LLC now owns 3,561 shares of the basic materials company’s stock worth $162,000 after purchasing an additional 573 shares in the last quarter. Finally, Integrated Wealth Concepts LLC bought a new position in ArcelorMittal during the 2nd quarter worth about $35,000. 9.29% of the stock is currently owned by institutional investors and hedge funds.

ArcelorMittal Company Profile

ArcelorMittal SA is a global steel and mining company with operations spanning the Americas, Europe and Africa. The company produces and sells steel products for industries including automotive, construction, infrastructure, energy, packaging and general manufacturing.

Its portfolio includes flat steel, long steel, tubular products and tailored solutions designed for specific industrial applications. ArcelorMittal also operates iron ore mining and processing activities, which supply raw materials for its steelmaking operations and support its vertically integrated business model.

ArcelorMittal was formed in 2006 through the merger of Arcelor and Mittal Steel.