Analysts Set ArcelorMittal S.A. (NYSE:MT) Target Price at $31.17

Shares of ArcelorMittal S.A. (NYSE:MT) have been assigned a consensus rating of “Moderate Buy” from the five brokerages that are presently covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $31.17.

MT has been the topic of several research reports. Bank of America upgraded ArcelorMittal from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $30.00 to $32.90 in a report on Thursday, November 14th. JPMorgan Chase & Co. downgraded ArcelorMittal from an “overweight” rating to a “neutral” rating in a research note on Friday, October 11th.

Institutional Investors Weigh In On ArcelorMittal

A number of large investors have recently modified their holdings of MT. ABC Arbitrage SA bought a new stake in ArcelorMittal during the 4th quarter valued at about $9,895,000. FMR LLC grew its stake in shares of ArcelorMittal by 46.7% during the 3rd quarter. FMR LLC now owns 1,317,833 shares of the basic materials company’s stock valued at $34,606,000 after acquiring an additional 419,465 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of ArcelorMittal by 90.5% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 622,335 shares of the basic materials company’s stock valued at $16,343,000 after purchasing an additional 295,682 shares during the period. Cerity Partners LLC lifted its position in shares of ArcelorMittal by 128.0% in the third quarter. Cerity Partners LLC now owns 464,315 shares of the basic materials company’s stock valued at $12,193,000 after acquiring an additional 260,633 shares in the last quarter. Finally, Mediolanum International Funds Ltd purchased a new position in ArcelorMittal in the 3rd quarter worth approximately $3,042,000. Institutional investors own 9.29% of the company’s stock.

ArcelorMittal Trading Down 1.5 %

ArcelorMittal stock opened at $24.34 on Tuesday. ArcelorMittal has a 52 week low of $20.52 and a 52 week high of $28.95. The stock has a 50-day simple moving average of $23.86 and a 200 day simple moving average of $23.76. 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 $19.94 billion, a P/E ratio of -17.26, a PEG ratio of 0.49 and a beta of 1.74.

ArcelorMittal (NYSE:MT) last announced its earnings results on Thursday, November 7th. The basic materials company reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.05. ArcelorMittal had a negative net margin of 1.99% and a positive return on equity of 5.26%. The firm had revenue of $15.20 billion for the quarter, compared to analyst estimates of $15.11 billion. During the same quarter in the prior year, the business posted $1.10 EPS. The business’s revenue was down 8.5% compared to the same quarter last year. Analysts expect that ArcelorMittal will post 2.73 earnings per share for the current year.

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.