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

ArcelorMittal S.A. (NYSE:MT) has been assigned a consensus recommendation of “Moderate Buy” from the five analysts that are presently covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $31.17.

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

ArcelorMittal Stock Performance

Shares of NYSE MT opened at $24.71 on Monday. The company has a current ratio of 1.46, a quick ratio of 0.59 and a debt-to-equity ratio of 0.16. The stock has a 50 day simple moving average of $24.85 and a 200-day simple moving average of $23.93. The company has a market cap of $19.90 billion, a PE ratio of -17.52, a P/E/G ratio of 0.64 and a beta of 1.74. ArcelorMittal has a 12-month low of $20.52 and a 12-month high of $29.01.

ArcelorMittal (NYSE:MT) last issued its quarterly earnings data 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. The business had revenue of $15.20 billion during the quarter, compared to the consensus estimate of $15.11 billion. ArcelorMittal had a positive return on equity of 5.26% and a negative net margin of 1.99%. The business’s revenue was down 8.5% on a year-over-year basis. During the same period in the previous year, the firm posted $1.10 earnings per share. On average, equities research analysts forecast that ArcelorMittal will post 2.93 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of MT. Bank of New York Mellon Corp increased its holdings in shares of ArcelorMittal by 2,038.3% in the second quarter. Bank of New York Mellon Corp now owns 822,426 shares of the basic materials company’s stock valued at $18,858,000 after buying an additional 783,965 shares in the last quarter. Encompass Capital Advisors LLC bought a new position in shares of ArcelorMittal in the second quarter valued at $12,679,000. FMR LLC increased its holdings in shares of ArcelorMittal by 46.7% in the third quarter. FMR LLC now owns 1,317,833 shares of the basic materials company’s stock valued at $34,606,000 after buying an additional 419,465 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of ArcelorMittal by 90.5% in the third 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 buying an additional 295,682 shares in the last quarter. Finally, Cerity Partners LLC increased its holdings 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 buying an additional 260,633 shares in the last quarter. Institutional investors own 9.29% of the company’s stock.

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.