ArcelorMittal (NYSE:MT) Stock Has Consensus Price Target of $74.55 According to Analysts

Shares of ArcelorMittal (NYSE:MT) have received a consensus rating of “Hold” from the fifteen research firms that are covering the company, Marketbeat reports. Eight equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $74.55.

Several equities research analysts have recently issued reports on the company. JPMorgan Chase & Co. restated a “neutral” rating on shares of ArcelorMittal in a report on Wednesday, July 29th. Citigroup reaffirmed a “buy” rating on shares of ArcelorMittal in a research report on Tuesday, August 4th. UBS Group upgraded ArcelorMittal from a “neutral” rating to a “buy” rating in a research note on Friday, October 9th. Deutsche Bank Aktiengesellschaft set a $79.00 target price on ArcelorMittal and gave the company a “buy” rating in a research note on Monday, October 5th. Finally, Barclays reiterated a “neutral” rating on shares of ArcelorMittal in a research report on Tuesday, July 7th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Maple Rock Capital Partners Inc. lifted its holdings in shares of ArcelorMittal by 54.9% during the 2nd quarter. Maple Rock Capital Partners Inc. now owns 2,190,860 shares of the basic materials company’s stock worth $131,934,000 after acquiring an additional 776,595 shares during the period. TD Waterhouse Canada Inc. grew its holdings in ArcelorMittal by 822.3% in the second quarter. TD Waterhouse Canada Inc. now owns 16,491 shares of the basic materials company’s stock valued at $978,000 after purchasing an additional 14,703 shares during the period. First Trust Advisors LP increased its position in ArcelorMittal by 275.8% during the first quarter. First Trust Advisors LP now owns 55,311 shares of the basic materials company’s stock worth $2,875,000 after purchasing an additional 40,593 shares during the last quarter. Icon Advisers Inc. Co. raised its stake in ArcelorMittal by 140.7% during the first quarter. Icon Advisers Inc. Co. now owns 65,000 shares of the basic materials company’s stock worth $3,379,000 after purchasing an additional 38,000 shares during the period. Finally, Quantinno Capital Management LP raised its stake in ArcelorMittal by 11.7% during the first quarter. Quantinno Capital Management LP now owns 335,931 shares of the basic materials company’s stock worth $17,461,000 after purchasing an additional 35,298 shares during the period. Institutional investors and hedge funds own 9.29% of the company’s stock.

ArcelorMittal Stock Performance

Shares of NYSE MT opened at $62.41 on Thursday. The company has a 50-day simple moving average of $71.51 and a 200-day simple moving average of $66.26. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.43 and a quick ratio of 0.57. The company has a market cap of $48.36 billion, a PE ratio of 26.44, a price-to-earnings-growth ratio of 0.53 and a beta of 1.54. ArcelorMittal has a 12 month low of $36.70 and a 12 month high of $79.68.

ArcelorMittal (NYSE:MT) last announced its quarterly earnings data 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 firm had revenue of $16.76 billion for the quarter, compared to analysts’ expectations of $17.56 billion. ArcelorMittal had a net margin of 2.88% and a return on equity of 4.20%. The business’s quarterly revenue was up 5.2% on a year-over-year basis. During the same period in the previous year, the company posted $1.32 EPS. On average, equities analysts anticipate that ArcelorMittal will post 4.03 earnings per share for the current year.

About ArcelorMittal

ArcelorMittal is a global steel and mining company headquartered in Luxembourg. The company produces a broad range of steel products, including flat steel, long steel, tubular products and specialty grades used in automotive manufacturing, construction, appliances, energy, packaging and other industrial applications.

Its operations span major steel-producing and consuming regions, including Europe, North and South America, and Africa. In addition to steelmaking and processing, ArcelorMittal owns and operates mining assets that supply iron ore for its production activities.