ArcelorMittal (NYSE:MT) Receives $32.96 Average PT from Analysts

ArcelorMittal (NYSE:MT) has earned an average rating of “Hold” from the eight brokerages that are currently covering the firm, MarketBeat.com reports. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $32.96.

A number of analysts have recently commented on MT shares. Wells Fargo & Company raised ArcelorMittal to a “hold” rating in a research note on Thursday, August 14th. Wall Street Zen cut ArcelorMittal from a “buy” rating to a “hold” rating in a research note on Sunday, July 20th. Finally, Barclays cut ArcelorMittal from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, July 16th.

Institutional Trading of ArcelorMittal

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Tower Research Capital LLC TRC increased its stake in shares of ArcelorMittal by 8.2% in the 2nd quarter. Tower Research Capital LLC TRC now owns 123,457 shares of the basic materials company’s stock valued at $3,899,000 after acquiring an additional 9,401 shares during the last quarter. Vident Advisory LLC grew its position in shares of ArcelorMittal by 4.8% in the 2nd quarter. Vident Advisory LLC now owns 18,878 shares of the basic materials company’s stock valued at $596,000 after purchasing an additional 869 shares during the period. Cubist Systematic Strategies LLC grew its position in shares of ArcelorMittal by 15.9% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 211,326 shares of the basic materials company’s stock valued at $6,674,000 after purchasing an additional 28,915 shares during the period. Boothbay Fund Management LLC grew its position in shares of ArcelorMittal by 22.8% in the 2nd quarter. Boothbay Fund Management LLC now owns 113,884 shares of the basic materials company’s stock valued at $3,596,000 after purchasing an additional 21,130 shares during the period. Finally, Balyasny Asset Management L.P. acquired a new position in shares of ArcelorMittal in the 2nd quarter valued at approximately $3,855,000. 9.29% of the stock is owned by institutional investors.

ArcelorMittal Stock Performance

Shares of NYSE:MT opened at $33.8860 on Friday. The stock has a market capitalization of $27.76 billion, a P/E ratio of 10.46, a P/E/G ratio of 0.15 and a beta of 1.65. ArcelorMittal has a 1-year low of $21.59 and a 1-year high of $35.13. 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 business has a 50-day moving average price of $32.46 and a two-hundred day moving average price of $30.41.

ArcelorMittal (NYSE:MT) last announced its quarterly earnings data on Thursday, July 31st. The basic materials company reported $1.32 earnings per share for the quarter, missing the consensus estimate of $1.33 by ($0.01). The firm had revenue of $15.93 billion for the quarter, compared to the consensus estimate of $15.48 billion. ArcelorMittal had a return on equity of 4.99% and a net margin of 4.11%.The business’s revenue for the quarter was down 2.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.63 earnings per share. Equities analysts predict that ArcelorMittal will post 3.72 earnings per share for the current year.

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.