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

Shares of ArcelorMittal S.A. (NYSE:MT) have been assigned an average rating of “Moderate Buy” from the five research firms that are covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1 year target price among analysts that have covered the stock in the last year is $30.30.

MT has been the subject of several analyst reports. Barclays upgraded ArcelorMittal from an “equal weight” rating to an “overweight” rating in a research report on Monday, August 19th. Deutsche Bank Aktiengesellschaft raised ArcelorMittal from a “hold” rating to a “buy” rating and increased their price target for the stock from $29.00 to $31.00 in a research note on Wednesday, August 28th.

ArcelorMittal Stock Performance

MT stock opened at $24.38 on Friday. ArcelorMittal has a 1 year low of $20.52 and a 1 year high of $29.01. The stock has a market capitalization of $19.63 billion, a price-to-earnings ratio of 27.39, a PEG ratio of 0.37 and a beta of 1.76. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.66 and a current ratio of 1.53. The stock’s fifty day moving average is $22.60 and its two-hundred day moving average is $24.52.

ArcelorMittal (NYSE:MT) last issued its quarterly earnings data on Thursday, August 1st. The basic materials company reported $0.63 earnings per share for the quarter, missing the consensus estimate of $1.12 by ($0.49). ArcelorMittal had a negative net margin of 0.93% and a positive return on equity of 6.00%. The firm had revenue of $16.25 billion during the quarter, compared to the consensus estimate of $16.32 billion. During the same quarter in the prior year, the business earned $2.20 earnings per share. The company’s revenue for the quarter was down 12.7% compared to the same quarter last year. On average, research analysts predict that ArcelorMittal will post 3.51 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. BNP Paribas Financial Markets acquired a new stake in ArcelorMittal in the first quarter worth approximately $2,705,000. Goldman Sachs Group Inc. raised its stake in shares of ArcelorMittal by 8.6% in the 4th quarter. Goldman Sachs Group Inc. now owns 839,485 shares of the basic materials company’s stock worth $23,833,000 after buying an additional 66,813 shares in the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of ArcelorMittal by 24.8% in the fourth quarter. PNC Financial Services Group Inc. now owns 4,115 shares of the basic materials company’s stock valued at $117,000 after buying an additional 818 shares during the period. Blue Trust Inc. boosted its stake in ArcelorMittal by 1,820.0% during the second quarter. Blue Trust Inc. now owns 2,016 shares of the basic materials company’s stock valued at $46,000 after buying an additional 1,911 shares in the last quarter. Finally, Quantbot Technologies LP boosted its stake in ArcelorMittal by 160.6% during the first quarter. Quantbot Technologies LP now owns 57,664 shares of the basic materials company’s stock valued at $1,590,000 after buying an additional 35,535 shares in the last quarter. Institutional investors and hedge funds own 9.88% of the company’s stock.

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.