ArcelorMittal S.A. (NYSE:MT) Receives $32.95 Average Target Price from Analysts

ArcelorMittal S.A. (NYSE:MT) has been assigned a consensus recommendation of “Moderate Buy” from the seven research firms that are currently covering the company, Marketbeat reports. Three equities research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $32.95.

A number of brokerages have recently issued reports on MT. Jefferies Financial Group lowered ArcelorMittal from a “buy” rating to a “hold” rating and set a $36.20 price target on the stock. in a research note on Wednesday, March 26th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of ArcelorMittal in a research note on Monday, April 14th. The Goldman Sachs Group raised shares of ArcelorMittal from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $29.00 to $31.70 in a research report on Thursday, April 10th. Finally, Morgan Stanley lowered shares of ArcelorMittal from an “overweight” rating to an “equal weight” rating in a research report on Friday, February 14th.

ArcelorMittal Stock Performance

Shares of NYSE:MT opened at $30.27 on Thursday. ArcelorMittal has a one year low of $20.52 and a one year high of $34.90. The firm has a market cap of $24.80 billion, a PE ratio of 18.35, a price-to-earnings-growth ratio of 0.14 and a beta of 1.62. The firm’s 50 day simple moving average is $29.32 and its 200-day simple moving average is $26.55. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.59 and a current ratio of 1.35.

ArcelorMittal (NYSE:MT) last announced its earnings results on Wednesday, April 30th. The basic materials company reported $1.04 earnings per share for the quarter, beating the consensus estimate of $0.71 by $0.33. The company had revenue of $14.80 billion during the quarter, compared to the consensus estimate of $15.11 billion. ArcelorMittal had a net margin of 2.14% and a return on equity of 4.31%. ArcelorMittal’s revenue was down 9.1% compared to the same quarter last year. During the same period last year, the firm earned $1.16 earnings per share. As a group, equities analysts predict that ArcelorMittal will post 3.72 EPS for the current year.

ArcelorMittal Dividend Announcement

The company also recently declared a semi-annual dividend, which will be paid on Wednesday, December 3rd. Stockholders of record on Thursday, November 13th will be issued a dividend of $0.275 per share. The ex-dividend date is Wednesday, November 12th. This represents a dividend yield of 1.5%. ArcelorMittal’s dividend payout ratio is currently 30.07%.

Institutional Trading of ArcelorMittal

Hedge funds have recently made changes to their positions in the stock. Hexagon Capital Partners LLC lifted its stake in shares of ArcelorMittal by 25.4% in the 1st quarter. Hexagon Capital Partners LLC now owns 1,779 shares of the basic materials company’s stock valued at $51,000 after purchasing an additional 360 shares during the last quarter. PNC Financial Services Group Inc. grew its position in ArcelorMittal by 4.0% during the first quarter. PNC Financial Services Group Inc. now owns 9,438 shares of the basic materials company’s stock worth $272,000 after buying an additional 362 shares in the last quarter. US Bancorp DE raised its stake in shares of ArcelorMittal by 2.7% in the first quarter. US Bancorp DE now owns 15,496 shares of the basic materials company’s stock valued at $447,000 after purchasing an additional 411 shares in the last quarter. Bayforest Capital Ltd lifted its holdings in shares of ArcelorMittal by 23.7% during the 1st quarter. Bayforest Capital Ltd now owns 2,298 shares of the basic materials company’s stock worth $62,000 after acquiring an additional 440 shares during the period. Finally, GAMMA Investing LLC boosted its stake in ArcelorMittal by 31.1% in the 1st quarter. GAMMA Investing LLC now owns 1,920 shares of the basic materials company’s stock valued at $55,000 after buying an additional 456 shares in the last quarter. 9.29% of the stock is owned by hedge funds and other institutional investors.

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.