ArcelorMittal S.A. (NYSE:MT) Receives $30.30 Average PT from Brokerages

Shares of ArcelorMittal S.A. (NYSE:MT) have been given a consensus rating of “Hold” by the five brokerages that are presently covering the company, Marketbeat reports. Three investment analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $30.30.

Several analysts recently commented on the stock. JPMorgan Chase & Co. downgraded shares of ArcelorMittal from an “overweight” rating to a “neutral” rating in a report on Friday. Deutsche Bank Aktiengesellschaft raised ArcelorMittal from a “hold” rating to a “buy” rating and upped their target price for the company from $29.00 to $31.00 in a research report on Wednesday, August 28th. Finally, Barclays raised ArcelorMittal from an “equal weight” rating to an “overweight” rating in a report on Monday, August 19th.

ArcelorMittal Trading Down 1.4 %

Shares of NYSE:MT opened at $24.51 on Tuesday. ArcelorMittal has a 52-week low of $20.52 and a 52-week high of $29.01. 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 company has a market capitalization of $19.74 billion, a P/E ratio of 27.54, a price-to-earnings-growth ratio of 0.53 and a beta of 1.77. The company has a 50-day simple moving average of $23.49 and a 200 day simple moving average of $24.34.

ArcelorMittal (NYSE:MT) last posted its quarterly earnings results on Thursday, August 1st. The basic materials company reported $0.63 earnings per share for the quarter, missing analysts’ consensus estimates 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 business had revenue of $16.25 billion during the quarter, compared to the consensus estimate of $16.32 billion. During the same quarter last year, the company posted $2.20 EPS. The firm’s revenue was down 12.7% on a year-over-year basis. Sell-side analysts forecast that ArcelorMittal will post 3 earnings per share for the current year.

Hedge Funds Weigh In On ArcelorMittal

A number of hedge funds have recently added to or reduced their stakes in the stock. Crossmark Global Holdings Inc. lifted its position in shares of ArcelorMittal by 4.6% during the 2nd quarter. Crossmark Global Holdings Inc. now owns 12,927 shares of the basic materials company’s stock worth $296,000 after buying an additional 572 shares during the last quarter. Rhumbline Advisers lifted its holdings in shares of ArcelorMittal by 6.8% in the second quarter. Rhumbline Advisers now owns 9,633 shares of the basic materials company’s stock worth $221,000 after acquiring an additional 610 shares during the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of ArcelorMittal by 24.8% in the 4th quarter. PNC Financial Services Group Inc. now owns 4,115 shares of the basic materials company’s stock valued at $117,000 after purchasing an additional 818 shares in the last quarter. First Trust Direct Indexing L.P. grew its holdings in shares of ArcelorMittal by 7.2% during the 1st quarter. First Trust Direct Indexing L.P. now owns 12,471 shares of the basic materials company’s stock valued at $344,000 after purchasing an additional 843 shares during the last quarter. Finally, Gallacher Capital Management LLC increased its position in ArcelorMittal by 8.0% during the 1st quarter. Gallacher Capital Management LLC now owns 12,152 shares of the basic materials company’s stock worth $335,000 after purchasing an additional 900 shares in the last quarter. Institutional investors own 9.88% of the company’s stock.

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.