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

Shares of ArcelorMittal S.A. (NYSE:MT) have received an average recommendation of “Moderate Buy” from the five analysts that are covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $31.17.

A number of research firms have recently commented on MT. JPMorgan Chase & Co. lowered 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 lifted their price target for the company from $30.00 to $32.90 in a research report on Thursday, November 14th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in MT. Crossmark Global Holdings Inc. raised its stake in ArcelorMittal by 4.6% in the second quarter. Crossmark Global Holdings Inc. now owns 12,927 shares of the basic materials company’s stock worth $296,000 after buying an additional 572 shares in the last quarter. GAMMA Investing LLC raised its position in shares of ArcelorMittal by 68.5% in the 4th quarter. GAMMA Investing LLC now owns 1,464 shares of the basic materials company’s stock worth $34,000 after acquiring an additional 595 shares in the last quarter. Rhumbline Advisers lifted its stake in shares of ArcelorMittal by 6.8% in the 2nd quarter. Rhumbline Advisers now owns 9,633 shares of the basic materials company’s stock valued at $221,000 after purchasing an additional 610 shares during the period. Pzena Investment Management LLC grew its stake in ArcelorMittal by 4.0% in the second quarter. Pzena Investment Management LLC now owns 25,085 shares of the basic materials company’s stock worth $575,000 after purchasing an additional 963 shares during the period. Finally, Eagle Asset Management Inc. grew its holdings in ArcelorMittal by 11.2% in the third quarter. Eagle Asset Management Inc. now owns 16,008 shares of the basic materials company’s stock worth $418,000 after purchasing an additional 1,615 shares during the period. Institutional investors own 9.29% of the company’s stock.

ArcelorMittal Price Performance

Shares of NYSE:MT opened at $21.96 on Friday. 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 market cap of $17.69 billion, a PE ratio of -15.57, a price-to-earnings-growth ratio of 0.61 and a beta of 1.75. The stock’s fifty day simple moving average is $24.42 and its two-hundred day simple moving average is $23.71. ArcelorMittal has a 1-year low of $20.52 and a 1-year high of $28.95.

ArcelorMittal (NYSE:MT) last posted its quarterly earnings results on Thursday, November 7th. The basic materials company reported $0.63 earnings per share (EPS) for the quarter, beating 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 negative net margin of 1.99% and a positive return on equity of 5.26%. The company’s quarterly revenue was down 8.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.10 earnings per share. As a group, analysts forecast that ArcelorMittal will post 2.93 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.