ArcelorMittal S.A. (NYSE:MT) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of ArcelorMittal S.A. (NYSE:MT) have received a consensus rating of “Moderate Buy” from the five analysts that are currently covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $31.17.

Several brokerages have recently commented on MT. JPMorgan Chase & Co. cut shares of ArcelorMittal from an “overweight” rating to a “neutral” rating in a research report on Friday, October 11th. 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 note on Thursday, November 14th.

ArcelorMittal Trading Up 0.3 %

Shares of NYSE:MT opened at $24.98 on Tuesday. The business’s 50 day simple moving average is $23.90 and its 200 day simple moving average is $23.71. ArcelorMittal has a 1 year low of $20.52 and a 1 year high of $28.95. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.46 and a quick ratio of 0.59. The company has a market capitalization of $20.46 billion, a P/E ratio of -17.71, a P/E/G ratio of 0.46 and a beta of 1.75.

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. The company had revenue of $15.20 billion for the quarter, compared to analyst estimates of $15.11 billion. ArcelorMittal had a positive return on equity of 5.26% and a negative net margin of 1.99%. During the same period in the prior year, the firm posted $1.10 EPS. ArcelorMittal’s quarterly revenue was down 8.5% on a year-over-year basis. On average, research analysts anticipate that ArcelorMittal will post 2.63 EPS for the current fiscal year.

Institutional Investors Weigh In On ArcelorMittal

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. GAMMA Investing LLC raised its position in ArcelorMittal by 68.5% in the fourth quarter. GAMMA Investing LLC now owns 1,464 shares of the basic materials company’s stock valued at $34,000 after purchasing an additional 595 shares during the last quarter. Oppenheimer Asset Management Inc. raised its holdings in ArcelorMittal by 154.7% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 57,106 shares of the basic materials company’s stock valued at $1,500,000 after buying an additional 34,688 shares during the last quarter. Natixis Advisors LLC boosted its position in ArcelorMittal by 171.4% during the 3rd quarter. Natixis Advisors LLC now owns 130,100 shares of the basic materials company’s stock worth $3,416,000 after buying an additional 82,164 shares during the period. Wealth Enhancement Advisory Services LLC bought a new stake in ArcelorMittal during the 3rd quarter worth approximately $642,000. Finally, Envestnet Asset Management Inc. grew its holdings in ArcelorMittal by 61.0% during the 2nd quarter. Envestnet Asset Management Inc. now owns 85,710 shares of the basic materials company’s stock worth $1,965,000 after acquiring an additional 32,469 shares during the last quarter. 9.29% of the stock is owned by 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.