ArcelorMittal (NYSE:MT) Receives Average Rating of “Hold” from Brokerages

ArcelorMittal (NYSE:MT) has earned an average recommendation of “Hold” from the twelve analysts that are currently covering the firm, Marketbeat reports. Seven investment analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12-month target price among analysts that have covered the stock in the last year is $74.80.

A number of brokerages have recently issued reports on MT. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $75.00 price target on shares of ArcelorMittal in a research note on Friday, July 31st. Morgan Stanley initiated coverage on ArcelorMittal in a report on Monday, August 24th. They issued an “overweight” rating and a $82.00 price objective on the stock. JPMorgan Chase & Co. raised shares of ArcelorMittal from an “underweight” rating to a “neutral” rating in a research note on Friday, July 10th. Citigroup reaffirmed a “buy” rating on shares of ArcelorMittal in a report on Tuesday, August 4th. Finally, Weiss Ratings cut shares of ArcelorMittal from a “buy (b-)” rating to a “hold (c)” rating in a research report on Thursday, August 13th.

Institutional Trading of ArcelorMittal

Several large investors have recently bought and sold shares of the business. Cetera Investment Advisers lifted its stake in ArcelorMittal by 1.0% in the 4th quarter. Cetera Investment Advisers now owns 18,386 shares of the basic materials company’s stock worth $838,000 after purchasing an additional 190 shares in the last quarter. Aaron Wealth Advisors LLC grew its position in shares of ArcelorMittal by 4.9% in the first quarter. Aaron Wealth Advisors LLC now owns 5,671 shares of the basic materials company’s stock valued at $295,000 after purchasing an additional 263 shares in the last quarter. Parallel Advisors LLC grew its position in shares of ArcelorMittal by 16.4% in the fourth quarter. Parallel Advisors LLC now owns 2,455 shares of the basic materials company’s stock valued at $112,000 after purchasing an additional 346 shares in the last quarter. GC Wealth Management RIA LLC grew its position in shares of ArcelorMittal by 4.2% in the first quarter. GC Wealth Management RIA LLC now owns 10,186 shares of the basic materials company’s stock valued at $529,000 after purchasing an additional 413 shares in the last quarter. Finally, Dorsey & Whitney Trust CO LLC increased its holdings in shares of ArcelorMittal by 6.7% in the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 7,143 shares of the basic materials company’s stock valued at $326,000 after purchasing an additional 448 shares during the last quarter. Hedge funds and other institutional investors own 9.29% of the company’s stock.

ArcelorMittal Trading Down 1.7%

Shares of ArcelorMittal stock opened at $73.30 on Wednesday. The firm has a market capitalization of $56.81 billion, a PE ratio of 31.06, a P/E/G ratio of 0.56 and a beta of 1.55. ArcelorMittal has a twelve month low of $31.93 and a twelve month high of $75.93. The firm’s 50-day moving average price is $68.65 and its 200 day moving average price is $63.63. The company has a current ratio of 1.43, a quick ratio of 0.57 and a debt-to-equity ratio of 0.21.

ArcelorMittal (NYSE:MT) last posted its quarterly earnings data on Thursday, July 30th. The basic materials company reported $0.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.18 by ($0.28). ArcelorMittal had a return on equity of 4.20% and a net margin of 2.88%.The firm had revenue of $16.76 billion during the quarter, compared to analyst estimates of $17.56 billion. During the same quarter in the previous year, the firm posted $1.32 earnings per share. The company’s quarterly revenue was up 5.2% on a year-over-year basis. On average, sell-side analysts predict that ArcelorMittal will post 4.48 EPS for the current fiscal year.

About ArcelorMittal

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.