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

ArcelorMittal S.A. (NYSE:MT) has earned a consensus recommendation of “Moderate Buy” from the five brokerages that are presently covering the company, MarketBeat reports. Two analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $31.17.

Several research firms have recently issued reports on MT. Bank of America upgraded shares of ArcelorMittal from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $30.00 to $32.90 in a research report on Thursday, November 14th. Deutsche Bank Aktiengesellschaft upgraded shares of ArcelorMittal from a “hold” rating to a “buy” rating and lifted their price target for the company from $29.00 to $31.00 in a report on Wednesday, August 28th. Barclays raised shares of ArcelorMittal from an “equal weight” rating to an “overweight” rating in a report on Monday, August 19th. Finally, JPMorgan Chase & Co. cut ArcelorMittal from an “overweight” rating to a “neutral” rating in a report on Friday, October 11th.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in MT. Blue Trust Inc. raised its position 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 purchasing an additional 1,911 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in ArcelorMittal by 298.1% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 2,365 shares of the basic materials company’s stock valued at $54,000 after buying an additional 1,771 shares during the period. CWM LLC lifted its position in ArcelorMittal by 378.2% in the second quarter. CWM LLC now owns 4,930 shares of the basic materials company’s stock worth $113,000 after buying an additional 3,899 shares during the last quarter. SG Americas Securities LLC purchased a new position in ArcelorMittal during the second quarter worth $156,000. Finally, Rhumbline Advisers increased its position in ArcelorMittal by 6.8% during the second quarter. Rhumbline Advisers now owns 9,633 shares of the basic materials company’s stock valued at $221,000 after acquiring an additional 610 shares during the last quarter. Institutional investors own 9.29% of the company’s stock.

ArcelorMittal Trading Down 0.1 %

Shares of ArcelorMittal stock opened at $25.85 on Monday. 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 company has a fifty day moving average of $24.87 and a 200 day moving average of $23.94. The company has a market capitalization of $20.81 billion, a P/E ratio of -18.33, a P/E/G ratio of 0.60 and a beta of 1.74. ArcelorMittal has a fifty-two week low of $20.52 and a fifty-two week high of $29.01.

ArcelorMittal (NYSE:MT) last released its earnings results on Thursday, November 7th. The basic materials company reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.05. ArcelorMittal had a positive return on equity of 5.26% and a negative net margin of 1.99%. The firm had revenue of $15.20 billion during the quarter, compared to analysts’ expectations of $15.11 billion. During the same quarter last year, the business posted $1.10 earnings per share. The firm’s revenue was down 8.5% on a year-over-year basis. On average, sell-side analysts anticipate that ArcelorMittal will post 3.02 earnings per share for the current fiscal 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.