Brokerages Set ArcelorMittal (NYSE:MT) Target Price at $33.45

ArcelorMittal (NYSE:MT) has been given a consensus recommendation of “Hold” by the nine analysts that are covering the stock, Marketbeat Ratings reports. Six investment analysts have rated the stock with a hold rating and three have given 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 $33.45.

A number of equities research analysts have recently weighed in on the company. Wells Fargo & Company raised ArcelorMittal to a “hold” rating in a research note on Thursday, August 14th. Weiss Ratings restated a “hold (c)” rating on shares of ArcelorMittal in a report on Saturday, September 27th. Barclays downgraded ArcelorMittal from an “overweight” rating to an “equal weight” rating in a report on Wednesday, July 16th. Finally, Wall Street Zen upgraded ArcelorMittal from a “hold” rating to a “buy” rating in a report on Friday, October 3rd.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Moody National Bank Trust Division purchased a new position in ArcelorMittal during the 3rd quarter valued at about $240,000. GAMMA Investing LLC grew its holdings in shares of ArcelorMittal by 13.3% during the 3rd quarter. GAMMA Investing LLC now owns 2,749 shares of the basic materials company’s stock worth $99,000 after acquiring an additional 323 shares during the period. Osaic Holdings Inc. grew its holdings in shares of ArcelorMittal by 16.2% during the 2nd quarter. Osaic Holdings Inc. now owns 16,796 shares of the basic materials company’s stock worth $530,000 after acquiring an additional 2,338 shares during the period. Tower Research Capital LLC TRC grew its holdings in shares of ArcelorMittal by 8.2% during the 2nd quarter. Tower Research Capital LLC TRC now owns 123,457 shares of the basic materials company’s stock worth $3,899,000 after acquiring an additional 9,401 shares during the period. Finally, Vident Advisory LLC grew its holdings in shares of ArcelorMittal by 4.8% during the 2nd quarter. Vident Advisory LLC now owns 18,878 shares of the basic materials company’s stock worth $596,000 after acquiring an additional 869 shares during the period. Hedge funds and other institutional investors own 9.29% of the company’s stock.

ArcelorMittal Trading Down 1.0%

NYSE MT opened at $38.54 on Friday. ArcelorMittal has a 1-year low of $21.59 and a 1-year high of $39.69. The company has a current ratio of 1.40, a quick ratio of 0.59 and a debt-to-equity ratio of 0.19. The stock has a 50-day moving average of $34.33 and a 200-day moving average of $31.72. The firm has a market cap of $31.57 billion, a PE ratio of 11.89, a price-to-earnings-growth ratio of 0.17 and a beta of 1.69.

ArcelorMittal (NYSE:MT) last released its earnings results on Thursday, July 31st. The basic materials company reported $1.32 earnings per share for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.01). ArcelorMittal had a net margin of 4.11% and a return on equity of 4.99%. The company had revenue of $15.93 billion during the quarter, compared to the consensus estimate of $15.48 billion. During the same period last year, the firm posted $0.63 EPS. The company’s revenue was down 2.0% on a year-over-year basis. As a group, sell-side analysts forecast that ArcelorMittal will post 3.72 EPS for the current 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.