Brokerages Set ArcelorMittal SA (NYSE:MT) Price Target at $22.57

ArcelorMittal SA (NYSE:MT) has earned a consensus recommendation of “Hold” from the eight analysts that are covering the firm, Marketbeat reports. Two analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $22.57.

Several brokerages have issued reports on MT. ValuEngine downgraded ArcelorMittal from a “sell” rating to a “strong sell” rating in a report on Friday, May 24th. TheStreet downgraded ArcelorMittal from a “b-” rating to a “c+” rating in a report on Tuesday, May 21st. KeyCorp began coverage on ArcelorMittal in a report on Monday, April 15th. They issued a “sector weight” rating and a $22.57 price target for the company. Finally, Goldman Sachs Group upgraded ArcelorMittal from a “neutral” rating to a “buy” rating in a report on Wednesday, June 12th.

Several hedge funds have recently bought and sold shares of the company. BB&T Corp boosted its position in ArcelorMittal by 1.2% during the first quarter. BB&T Corp now owns 55,188 shares of the basic materials company’s stock valued at $1,125,000 after purchasing an additional 661 shares during the last quarter. Wrapmanager Inc. boosted its position in ArcelorMittal by 7.1% during the first quarter. Wrapmanager Inc. now owns 12,066 shares of the basic materials company’s stock valued at $246,000 after purchasing an additional 802 shares during the last quarter. Creative Planning boosted its position in ArcelorMittal by 8.4% during the first quarter. Creative Planning now owns 11,756 shares of the basic materials company’s stock valued at $240,000 after purchasing an additional 908 shares during the last quarter. Stevens Capital Management LP boosted its position in ArcelorMittal by 3.4% during the first quarter. Stevens Capital Management LP now owns 54,333 shares of the basic materials company’s stock valued at $1,107,000 after purchasing an additional 1,786 shares during the last quarter. Finally, IPG Investment Advisors LLC boosted its position in ArcelorMittal by 16.8% during the first quarter. IPG Investment Advisors LLC now owns 12,855 shares of the basic materials company’s stock valued at $262,000 after purchasing an additional 1,845 shares during the last quarter. 2.67% of the stock is owned by institutional investors.



NYSE MT traded up $0.64 on Thursday, reaching $13.84. The company had a trading volume of 3,168,025 shares, compared to its average volume of 2,937,147. ArcelorMittal has a 52 week low of $13.16 and a 52 week high of $32.73. The company has a 50 day moving average of $16.34. The company has a market capitalization of $13.79 billion, a PE ratio of 2.40 and a beta of 2.35. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.52 and a current ratio of 1.41.

ArcelorMittal (NYSE:MT) last announced its quarterly earnings results on Thursday, August 1st. The basic materials company reported $0.49 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.49. ArcelorMittal had a return on equity of 8.39% and a net margin of 2.73%. The company had revenue of $19.28 billion during the quarter, compared to the consensus estimate of $18.90 billion. During the same period in the prior year, the company earned $1.83 earnings per share. The company’s revenue for the quarter was down 3.6% compared to the same quarter last year. As a group, equities research analysts predict that ArcelorMittal will post 0.96 earnings per share for the current fiscal year.

About ArcelorMittal

ArcelorMittal, together with its subsidiaries, owns and operates steel manufacturing and mining facilities in Europe, North and South America, Asia, and Africa. It operates through five segments: NAFTA, Brazil, Europe, ACIS, and Mining. The company produces finished and semi-finished steel products with various specifications.

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Analyst Recommendations for ArcelorMittal (NYSE:MT)

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