ArcelorMittal (NYSE:MT) Receives Consensus Rating of “Hold” from Analysts

ArcelorMittal (NYSE:MT) has earned a consensus rating of “Hold” from the thirteen analysts that are covering the company, Marketbeat reports. One analyst has rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $68.0667.

A number of brokerages recently commented on MT. KeyCorp initiated coverage on ArcelorMittal in a report on Wednesday, March 25th. They set a “sector weight” rating on the stock. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $70.00 target price on shares of ArcelorMittal in a research report on Tuesday. Jefferies Financial Group reiterated a “buy” rating on shares of ArcelorMittal in a research note on Monday. Wells Fargo & Company increased their price target on shares of ArcelorMittal from $60.00 to $61.00 and gave the company an “equal weight” rating in a research report on Friday, May 1st. Finally, Weiss Ratings upgraded shares of ArcelorMittal from a “hold (c)” rating to a “buy (b-)” rating in a report on Monday, May 4th.

ArcelorMittal Stock Down 2.0%

MT stock traded down $1.32 during trading on Tuesday, reaching $64.03. The stock had a trading volume of 1,153,894 shares, compared to its average volume of 1,927,407. ArcelorMittal has a one year low of $30.17 and a one year high of $72.50. The company has a quick ratio of 0.54, a current ratio of 1.39 and a debt-to-equity ratio of 0.19. The company’s 50 day moving average is $63.96 and its two-hundred day moving average is $57.88. The company has a market capitalization of $49.62 billion, a price-to-earnings ratio of 16.82, a P/E/G ratio of 0.51 and a beta of 1.55.

ArcelorMittal (NYSE:MT) last posted its earnings results on Thursday, April 30th. The basic materials company reported $0.76 EPS for the quarter, topping the consensus estimate of $0.72 by $0.04. ArcelorMittal had a net margin of 4.71% and a return on equity of 4.77%. The firm had revenue of $15.46 billion for the quarter, compared to analysts’ expectations of $17.04 billion. During the same quarter last year, the firm earned $1.05 EPS. The company’s quarterly revenue was up 4.5% compared to the same quarter last year. Equities research analysts forecast that ArcelorMittal will post 4.72 EPS for the current year.

Institutional Investors Weigh In On ArcelorMittal

Several large investors have recently modified their holdings of MT. Maple Rock Capital Partners Inc. bought a new position in ArcelorMittal in the 3rd quarter worth about $41,399,000. UBS Group AG increased its position in shares of ArcelorMittal by 405.2% during the third quarter. UBS Group AG now owns 1,181,358 shares of the basic materials company’s stock valued at $42,706,000 after buying an additional 947,532 shares during the period. Retirement Systems of Alabama purchased a new stake in shares of ArcelorMittal in the fourth quarter worth about $30,721,000. Senator Investment Group LP purchased a new stake in shares of ArcelorMittal in the fourth quarter worth about $26,431,000. Finally, Auto Owners Insurance Co boosted its position in shares of ArcelorMittal by 4,457.0% in the fourth quarter. Auto Owners Insurance Co now owns 367,568 shares of the basic materials company’s stock valued at $1,675,000 after acquiring an additional 359,502 shares during the period. Hedge funds and other institutional investors own 9.29% of the company’s stock.

ArcelorMittal Company Profile

ArcelorMittal is a multinational steel manufacturing company formed in 2006 through the merger of Arcelor and Mittal Steel. Headquartered in Luxembourg, the company is one of the world’s largest producers of steel and operates an integrated value chain that spans raw material extraction, steelmaking, processing and distribution. Its product portfolio includes flat and long carbon steel products, coated and specialty steels, tubular products and value-added solutions tailored for sectors such as automotive, construction, household appliances, energy and packaging.

ArcelorMittal’s operations are global in scope, with production facilities, distribution networks and commercial activities across Europe, the Americas, Asia, Africa and the Commonwealth of Independent States.