ArcelorMittal (NYSE:MT) Given Average Rating of “Moderate Buy” by Brokerages

ArcelorMittal (NYSE:MT) has earned an average recommendation of “Moderate Buy” from the twelve ratings firms that are currently covering the company, MarketBeat Ratings reports. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 1-year target price among analysts that have covered the stock in the last year is $51.9750.

A number of equities research analysts recently commented on MT shares. Oddo Bhf raised shares of ArcelorMittal from a “neutral” rating to an “outperform” rating in a research note on Wednesday, January 14th. UBS Group cut shares of ArcelorMittal from a “buy” rating to a “neutral” rating in a research report on Monday, November 17th. Jefferies Financial Group raised shares of ArcelorMittal from a “hold” rating to a “buy” rating and upped their price target for the company from $51.10 to $73.20 in a report on Wednesday, February 11th. Wells Fargo & Company increased their price target on shares of ArcelorMittal from $47.00 to $54.00 and gave the company an “equal weight” rating in a research report on Friday, February 6th. Finally, Citigroup reissued a “buy” rating on shares of ArcelorMittal in a research note on Friday, February 13th.

Hedge Funds Weigh In On ArcelorMittal

Hedge funds have recently bought and sold shares of the stock. AlphaCore Capital LLC boosted its stake in shares of ArcelorMittal by 672.4% during the third quarter. AlphaCore Capital LLC now owns 31,894 shares of the basic materials company’s stock valued at $1,153,000 after acquiring an additional 27,765 shares during the last quarter. American Century Companies Inc. raised its stake in ArcelorMittal by 39.1% in the 2nd quarter. American Century Companies Inc. now owns 392,644 shares of the basic materials company’s stock valued at $12,400,000 after purchasing an additional 110,420 shares during the last quarter. Covalis Capital LLP acquired a new position in ArcelorMittal in the 2nd quarter valued at about $3,644,000. Vise Technologies Inc. purchased a new position in ArcelorMittal in the 2nd quarter valued at about $430,000. Finally, Arrow Capital Pty Ltd purchased a new position in ArcelorMittal in the 2nd quarter valued at about $5,206,000. Hedge funds and other institutional investors own 9.29% of the company’s stock.

ArcelorMittal Stock Down 3.7%

ArcelorMittal stock opened at $55.32 on Wednesday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.53 and a current ratio of 1.36. The firm has a market capitalization of $42.87 billion, a price-to-earnings ratio of 13.49, a price-to-earnings-growth ratio of 0.45 and a beta of 1.47. ArcelorMittal has a fifty-two week low of $23.19 and a fifty-two week high of $67.60. The stock’s fifty day moving average is $55.81 and its two-hundred day moving average is $44.88.

ArcelorMittal (NYSE:MT) last announced its quarterly earnings results on Thursday, February 5th. The basic materials company reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.56 by $0.30. The business had revenue of $14.97 billion during the quarter, compared to analysts’ expectations of $15.56 billion. ArcelorMittal had a return on equity of 5.27% and a net margin of 5.14%.The business’s revenue for the quarter was up 1.7% on a year-over-year basis. During the same quarter last year, the business posted $0.52 earnings per share. Analysts predict that ArcelorMittal will post 3.72 EPS for the current fiscal year.

ArcelorMittal Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 2nd. Shareholders of record on Friday, November 13th will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date is Friday, November 13th. ArcelorMittal’s dividend payout ratio is 12.44%.

ArcelorMittal Company Profile

ArcelorMittal is a multinational steel manufacturing company formed in 2006 through the merger of Arcelor and Mittal Steel. Headquartered in Luxembourg, the company is one of the world’s largest producers of steel and operates an integrated value chain that spans raw material extraction, steelmaking, processing and distribution. Its product portfolio includes flat and long carbon steel products, coated and specialty steels, tubular products and value-added solutions tailored for sectors such as automotive, construction, household appliances, energy and packaging.

ArcelorMittal’s operations are global in scope, with production facilities, distribution networks and commercial activities across Europe, the Americas, Asia, Africa and the Commonwealth of Independent States.