ArcelorMittal (NYSE:MT) Given Average Recommendation of “Hold” by Analysts

ArcelorMittal (NYSE:MT) has been given an average rating of “Hold” by the ten analysts that are covering the company, Marketbeat reports. Six investment analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $38.9750.

Several equities analysts recently issued reports on the company. Wall Street Zen lowered ArcelorMittal from a “buy” rating to a “hold” rating in a research report on Saturday, October 11th. Wells Fargo & Company reissued a “cautious” rating and set a $39.00 price objective (up previously from $33.00) on shares of ArcelorMittal in a research note on Thursday, October 23rd. Citigroup restated a “buy” rating on shares of ArcelorMittal in a report on Wednesday, October 8th. Weiss Ratings reiterated a “hold (c)” rating on shares of ArcelorMittal in a report on Wednesday, October 8th. Finally, UBS Group cut shares of ArcelorMittal from a “buy” rating to a “neutral” rating in a research report on Monday, November 17th.

ArcelorMittal Stock Performance

ArcelorMittal stock opened at $47.84 on Tuesday. The firm has a fifty day simple moving average of $43.34 and a two-hundred day simple moving average of $37.89. The company has a quick ratio of 0.58, a current ratio of 1.39 and a debt-to-equity ratio of 0.19. ArcelorMittal has a twelve month low of $21.85 and a twelve month high of $48.52. The company has a market capitalization of $37.08 billion, a PE ratio of 14.24, a P/E/G ratio of 0.18 and a beta of 1.52.

ArcelorMittal (NYSE:MT) last released its quarterly earnings data on Thursday, November 6th. The basic materials company reported $0.62 EPS for the quarter, topping the consensus estimate of $0.58 by $0.04. ArcelorMittal had a return on equity of 4.94% and a net margin of 4.23%.The firm had revenue of $15.66 billion for the quarter, compared to the consensus estimate of $15.88 billion. During the same quarter in the previous year, the business earned $0.63 earnings per share. The company’s quarterly revenue was up 3.0% on a year-over-year basis. Research analysts expect that ArcelorMittal will post 3.72 EPS for the current year.

Institutional Trading of ArcelorMittal

Large investors have recently modified their holdings of the business. True Wealth Design LLC boosted its stake in shares of ArcelorMittal by 41.4% during the 4th quarter. True Wealth Design LLC now owns 799 shares of the basic materials company’s stock valued at $36,000 after purchasing an additional 234 shares in the last quarter. CWA Asset Management Group LLC lifted its holdings in ArcelorMittal by 4.2% in the fourth quarter. CWA Asset Management Group LLC now owns 39,067 shares of the basic materials company’s stock worth $1,780,000 after buying an additional 1,588 shares during the period. Park Avenue Securities LLC boosted its position in ArcelorMittal by 18.8% during the 4th quarter. Park Avenue Securities LLC now owns 14,240 shares of the basic materials company’s stock valued at $649,000 after acquiring an additional 2,258 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of ArcelorMittal by 15.6% during the 4th quarter. GAMMA Investing LLC now owns 3,179 shares of the basic materials company’s stock worth $145,000 after acquiring an additional 430 shares during the period. Finally, Caxton Associates LLP purchased a new position in shares of ArcelorMittal during the 3rd quarter worth approximately $597,000. 9.29% of the stock is owned by institutional investors.

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.