ArcelorMittal S.A. (NYSE:MT) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of ArcelorMittal S.A. (NYSE:MT) have received a consensus rating of “Moderate Buy” from the five brokerages that are covering the firm, MarketBeat reports. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $30.30.

A number of research analysts have recently issued reports on MT shares. Barclays raised ArcelorMittal from an “equal weight” rating to an “overweight” rating in a research note on Monday, August 19th. Deutsche Bank Aktiengesellschaft upgraded ArcelorMittal from a “hold” rating to a “buy” rating and boosted their price target for the company from $29.00 to $31.00 in a report on Wednesday, August 28th.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of MT. Principal Securities Inc. purchased a new stake in ArcelorMittal in the 4th quarter worth $25,000. EverSource Wealth Advisors LLC increased its stake in ArcelorMittal by 84.6% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,128 shares of the basic materials company’s stock worth $32,000 after acquiring an additional 517 shares during the last quarter. Blue Trust Inc. raised its holdings in shares of ArcelorMittal by 1,820.0% during the 2nd quarter. Blue Trust Inc. now owns 2,016 shares of the basic materials company’s stock worth $46,000 after acquiring an additional 1,911 shares in the last quarter. Mather Group LLC. boosted its position in shares of ArcelorMittal by 1,388.6% during the 2nd quarter. Mather Group LLC. now owns 2,218 shares of the basic materials company’s stock valued at $51,000 after acquiring an additional 2,069 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its holdings in shares of ArcelorMittal by 298.1% in the second quarter. Allspring Global Investments Holdings LLC now owns 2,365 shares of the basic materials company’s stock valued at $54,000 after purchasing an additional 1,771 shares in the last quarter. Institutional investors own 9.88% of the company’s stock.

ArcelorMittal Trading Up 1.9 %

Shares of MT opened at $23.29 on Friday. ArcelorMittal has a twelve month low of $20.52 and a twelve month high of $29.01. The stock has a market cap of $18.76 billion, a PE ratio of 26.17, a P/E/G ratio of 0.37 and a beta of 1.76. The company has a quick ratio of 0.66, a current ratio of 1.53 and a debt-to-equity ratio of 0.16. The business’s 50-day moving average price is $22.56 and its 200-day moving average price is $24.54.

ArcelorMittal (NYSE:MT) last released its quarterly earnings results on Thursday, August 1st. The basic materials company reported $0.63 EPS for the quarter, missing analysts’ consensus estimates of $1.12 by ($0.49). ArcelorMittal had a positive return on equity of 6.00% and a negative net margin of 0.93%. The company had revenue of $16.25 billion during the quarter, compared to analysts’ expectations of $16.32 billion. During the same period in the prior year, the firm earned $2.20 EPS. ArcelorMittal’s quarterly revenue was down 12.7% on a year-over-year basis. On average, equities analysts forecast that ArcelorMittal will post 3.51 EPS for the current fiscal year.

About ArcelorMittal

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.