ArcelorMittal S.A. (NYSE:MT) Receives $31.17 Average Price Target from Analysts

Shares of ArcelorMittal S.A. (NYSE:MT) have been assigned an average rating of “Moderate Buy” from the five research firms that are presently covering the stock, MarketBeat.com reports. Two 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 brokers that have covered the stock in the last year is $31.17.

A number of research analysts have issued reports on MT shares. Bank of America upgraded shares of ArcelorMittal from a “neutral” rating to a “buy” rating and upped their target price for the company from $30.00 to $32.90 in a report on Thursday, November 14th. JPMorgan Chase & Co. downgraded shares of ArcelorMittal from an “overweight” rating to a “neutral” rating in a research report on Friday, October 11th.

ArcelorMittal Stock Performance

Shares of MT opened at $21.83 on Friday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.59 and a current ratio of 1.46. The stock has a market capitalization of $17.58 billion, a P/E ratio of -15.48, a P/E/G ratio of 0.61 and a beta of 1.75. The company’s fifty day moving average is $24.31 and its two-hundred day moving average is $23.69. ArcelorMittal has a 1 year low of $20.52 and a 1 year high of $28.95.

ArcelorMittal (NYSE:MT) last issued its earnings results on Thursday, November 7th. The basic materials company reported $0.63 EPS for the quarter, topping the consensus estimate of $0.58 by $0.05. The company had revenue of $15.20 billion for the quarter, compared to analyst estimates of $15.11 billion. ArcelorMittal had a negative net margin of 1.99% and a positive return on equity of 5.26%. The business’s revenue was down 8.5% on a year-over-year basis. During the same period in the previous year, the firm earned $1.10 EPS. On average, sell-side analysts predict that ArcelorMittal will post 2.93 earnings per share for the current year.

Institutional Investors Weigh In On ArcelorMittal

Institutional investors have recently bought and sold shares of the business. GAMMA Investing LLC lifted its holdings in shares of ArcelorMittal by 68.5% during the 4th quarter. GAMMA Investing LLC now owns 1,464 shares of the basic materials company’s stock valued at $34,000 after buying an additional 595 shares during the last quarter. MML Investors Services LLC acquired a new stake in shares of ArcelorMittal during the 3rd quarter worth approximately $308,000. Kovitz Investment Group Partners LLC acquired a new stake in shares of ArcelorMittal during the 3rd quarter worth approximately $376,000. Quantinno Capital Management LP grew its holdings in shares of ArcelorMittal by 210.6% during the 3rd quarter. Quantinno Capital Management LP now owns 114,324 shares of the basic materials company’s stock worth $3,002,000 after purchasing an additional 77,519 shares in the last quarter. Finally, Recurrent Investment Advisors LLC boosted its stake in ArcelorMittal by 8.2% in the 3rd quarter. Recurrent Investment Advisors LLC now owns 102,290 shares of the basic materials company’s stock valued at $2,686,000 after buying an additional 7,753 shares in the last quarter. 9.29% of the stock is currently owned by institutional investors and hedge funds.

ArcelorMittal Company Profile

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.