ArcelorMittal SA (MT) Receives Consensus Rating of “Buy” from Brokerages

ArcelorMittal SA (NYSE:MT) has received an average recommendation of “Buy” from the sixteen ratings firms that are currently covering the company. One analyst has rated the stock with a hold recommendation, thirteen have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $27.19.

Several analysts have commented on the company. Zacks Investment Research downgraded ArcelorMittal SA from a “buy” rating to a “hold” rating in a research note on Tuesday, March 21st. Jefferies Group LLC reiterated a “buy” rating and set a $31.50 target price on shares of ArcelorMittal SA in a research note on Thursday, February 16th. JPMorgan Chase & Co. reiterated a “neutral” rating on shares of ArcelorMittal SA in a research note on Tuesday, January 31st. Cowen and Company reissued a “buy” rating and set a $11.00 price target on shares of ArcelorMittal SA in a report on Friday, May 19th. Finally, Goldman Sachs Group Inc reissued a “buy” rating on shares of ArcelorMittal SA in a report on Friday, February 17th.

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Shares of ArcelorMittal SA (NYSE:MT) traded up 1.55% during midday trading on Tuesday, hitting $22.26. The stock had a trading volume of 6,957,512 shares. The company’s 50 day moving average is $22.93 and its 200 day moving average is $23.98. The firm has a market cap of $22.70 billion, a P/E ratio of 7.38 and a beta of 2.06. ArcelorMittal SA has a 52 week low of $12.54 and a 52 week high of $28.11.

ArcelorMittal SA (NYSE:MT) last issued its earnings results on Friday, May 12th. The basic materials company reported $0.99 EPS for the quarter, beating the consensus estimate of $0.81 by $0.18. ArcelorMittal SA had a return on equity of 6.88% and a net margin of 3.13%. The business had revenue of $16.09 billion for the quarter, compared to the consensus estimate of $16.81 billion. During the same period last year, the business posted ($0.69) EPS. The company’s revenue was up 20.1% compared to the same quarter last year. On average, equities analysts predict that ArcelorMittal SA will post $2.87 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently modified their holdings of MT. Geode Capital Management LLC purchased a new position in shares of ArcelorMittal SA during the first quarter worth $110,000. Iron Financial LLC raised its position in ArcelorMittal SA by 50.0% in the first quarter. Iron Financial LLC now owns 15,000 shares of the basic materials company’s stock valued at $125,000 after buying an additional 5,000 shares in the last quarter. Jacobi Capital Management LLC bought a new position in ArcelorMittal SA during the first quarter valued at approximately $127,000. US Bancorp DE raised its position in ArcelorMittal SA by 14.2% in the first quarter. US Bancorp DE now owns 15,540 shares of the basic materials company’s stock valued at $129,000 after buying an additional 1,934 shares in the last quarter. Finally, MAVEN SECURITIES Ltd bought a new position in ArcelorMittal SA during the first quarter valued at approximately $139,000. Hedge funds and other institutional investors own 3.46% of the company’s stock.

ArcelorMittal SA Company Profile

ArcelorMittal SA (ArcelorMittal) is a holding company. The Company, together with its subsidiaries, owns and operates steel manufacturing and mining facilities in Europe, North and South America, Asia and Africa. ArcelorMittal operates through five segments, which include NAFTA; Europe; Brazil; Africa and Commonwealth of Independent States (ACIS), and Mining.

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