Shares of ArcelorMittal SA (NYSE:MT) have been assigned an average recommendation of “Buy” from the nineteen analysts that are covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, three have given a hold recommendation, twelve have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $31.44.

A number of research analysts have commented on the stock. Zacks Investment Research downgraded shares of ArcelorMittal SA from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 7th. SBG Securities downgraded shares of ArcelorMittal SA from a “buy” rating to a “hold” rating in a research report on Sunday, July 30th. BidaskClub downgraded shares of ArcelorMittal SA from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 25th. Cowen and Company reissued a “buy” rating and set a $32.00 target price on shares of ArcelorMittal SA in a research report on Wednesday, July 19th. Finally, Jefferies Group LLC reissued a “buy” rating and set a $34.00 target price (up previously from $31.50) on shares of ArcelorMittal SA in a research report on Tuesday, July 18th.

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Shares of ArcelorMittal SA (NYSE MT) opened at 25.80 on Friday. ArcelorMittal SA has a one year low of $16.14 and a one year high of $28.11. The stock has a market cap of $26.32 billion, a PE ratio of 8.12 and a beta of 2.09. The firm has a 50-day moving average of $24.77 and a 200-day moving average of $24.15.

ArcelorMittal SA (NYSE:MT) last posted its earnings results on Thursday, July 27th. The basic materials company reported $1.33 EPS for the quarter, beating analysts’ consensus estimates of $0.78 by $0.55. The business had revenue of $17.24 billion for the quarter, compared to the consensus estimate of $16.88 billion. ArcelorMittal SA had a net margin of 7.63% and a return on equity of 16.12%. The company’s revenue for the quarter was up 17.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.38 EPS. On average, equities research analysts expect that ArcelorMittal SA will post $3.07 earnings per share for the current fiscal year.

A number of hedge funds have recently added to or reduced their stakes in the company. Cambiar Investors LLC bought a new stake in ArcelorMittal SA during the second quarter valued at $114,710,000. Credit Suisse AG increased its stake in ArcelorMittal SA by 2,724.4% in the first quarter. Credit Suisse AG now owns 4,540,212 shares of the basic materials company’s stock valued at $37,910,000 after buying an additional 4,379,463 shares in the last quarter. Renaissance Technologies LLC increased its stake in ArcelorMittal SA by 311.2% in the first quarter. Renaissance Technologies LLC now owns 4,760,754 shares of the basic materials company’s stock valued at $39,755,000 after buying an additional 3,603,075 shares in the last quarter. Jane Street Group LLC increased its stake in ArcelorMittal SA by 775.6% in the first quarter. Jane Street Group LLC now owns 2,127,765 shares of the basic materials company’s stock valued at $17,767,000 after buying an additional 1,884,765 shares in the last quarter. Finally, Morgan Stanley increased its stake in ArcelorMittal SA by 55.5% in the first quarter. Morgan Stanley now owns 2,270,841 shares of the basic materials company’s stock valued at $18,961,000 after buying an additional 810,291 shares in the last quarter. 9.72% of the stock is currently owned by institutional investors.

About ArcelorMittal SA

ArcelorMittal SA (ArcelorMittal) is a holding company. The Company, together with its subsidiaries, owns and operates steel manufacturing and mining facilities in Europe, North and South America, Asia and Africa. ArcelorMittal operates through five segments, which include NAFTA; Europe; Brazil; Africa and Commonwealth of Independent States (ACIS), and Mining.

Analyst Recommendations for ArcelorMittal SA (NYSE:MT)

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