ArcelorMittal (NYSE:MT) Given Consensus Recommendation of “Moderate Buy” by Brokerages

ArcelorMittal (NYSE:MT) has received an average rating of “Moderate Buy” from the twelve research firms that are covering the firm, Marketbeat reports. Five investment analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $51.9750.

Several equities analysts have recently issued reports on MT shares. Weiss Ratings restated a “hold (c)” rating on shares of ArcelorMittal in a report on Wednesday, January 21st. Citigroup reissued a “buy” rating on shares of ArcelorMittal in a research report on Friday, February 13th. Morgan Stanley restated an “overweight” rating on shares of ArcelorMittal in a research note on Tuesday, February 17th. JPMorgan Chase & Co. upgraded shares of ArcelorMittal from a “neutral” rating to an “overweight” rating in a research note on Friday, November 7th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of ArcelorMittal in a research report on Friday, February 6th.

ArcelorMittal Stock Down 6.5%

ArcelorMittal stock opened at $60.31 on Wednesday. ArcelorMittal has a 1-year low of $23.19 and a 1-year high of $67.60. The business has a fifty day moving average price of $55.07 and a 200-day moving average price of $44.38. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.36 and a quick ratio of 0.53. The stock has a market capitalization of $46.74 billion, a price-to-earnings ratio of 14.71, a PEG ratio of 0.53 and a beta of 1.48.

ArcelorMittal (NYSE:MT) last released its quarterly earnings results on Thursday, February 5th. The basic materials company reported $0.86 EPS for the quarter, beating analysts’ consensus estimates of $0.56 by $0.30. The company had revenue of $14.97 billion during the quarter, compared to analysts’ expectations of $15.56 billion. ArcelorMittal had a return on equity of 5.27% and a net margin of 5.14%.The firm’s revenue was up 1.7% compared to the same quarter last year. During the same period last year, the business posted $0.52 earnings per share. Equities research analysts forecast that ArcelorMittal will post 3.72 EPS for the current fiscal year.

ArcelorMittal Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 2nd. Stockholders of record on Friday, November 13th will be issued a $0.15 dividend. The ex-dividend date of this dividend is Friday, November 13th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.0%. ArcelorMittal’s dividend payout ratio is currently 12.44%.

Institutional Investors Weigh In On ArcelorMittal

A number of institutional investors and hedge funds have recently modified their holdings of the company. Cetera Investment Advisers raised its holdings 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 during the period. TD Waterhouse Canada Inc. raised its stake in shares of ArcelorMittal by 11.2% during the 4th quarter. TD Waterhouse Canada Inc. now owns 2,141 shares of the basic materials company’s stock worth $98,000 after buying an additional 216 shares during the period. True Wealth Design LLC raised 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 worth $36,000 after buying an additional 234 shares during the period. Merit Financial Group LLC lifted its position in shares of ArcelorMittal by 3.1% during the 3rd quarter. Merit Financial Group LLC now owns 9,453 shares of the basic materials company’s stock valued at $342,000 after buying an additional 283 shares in the last quarter. Finally, GK Wealth Management LLC grew its stake in ArcelorMittal by 4.1% in the 3rd quarter. GK Wealth Management LLC now owns 7,129 shares of the basic materials company’s stock valued at $258,000 after acquiring an additional 284 shares during the period. Institutional investors and hedge funds own 9.29% of the company’s stock.

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.