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

Shares of ArcelorMittal (NYSE:MT) have been assigned a consensus recommendation of “Hold” from the thirteen ratings firms that are presently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $51.9750.

A number of brokerages have commented on MT. Weiss Ratings reaffirmed a “hold (c)” rating on shares of ArcelorMittal in a report on Wednesday, January 21st. JPMorgan Chase & Co. downgraded shares of ArcelorMittal from an “overweight” rating to an “underweight” rating in a research report on Monday, March 9th. Jefferies Financial Group upgraded ArcelorMittal from a “hold” rating to a “buy” rating and upped their price objective for the stock from $51.10 to $73.20 in a research note on Wednesday, February 11th. Oddo Bhf raised ArcelorMittal from a “neutral” rating to an “outperform” rating in a report on Wednesday, January 14th. Finally, Citigroup reiterated a “buy” rating on shares of ArcelorMittal in a research report on Friday, February 13th.

ArcelorMittal Trading Down 2.7%

ArcelorMittal stock opened at $49.63 on Friday. The business has a 50-day simple moving average of $57.34 and a two-hundred day simple moving average of $46.77. The company has a market cap of $38.46 billion, a P/E ratio of 12.11, a P/E/G ratio of 0.43 and a beta of 1.48. ArcelorMittal has a 52-week low of $23.19 and a 52-week high of $67.60. The company has a quick ratio of 0.53, a current ratio of 1.36 and a debt-to-equity ratio of 0.19.

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 the consensus estimate of $0.56 by $0.30. The firm had revenue of $14.97 billion during the quarter, compared to analyst estimates of $15.56 billion. ArcelorMittal had a net margin of 5.14% and a return on equity of 5.27%. The business’s revenue for the quarter was up 1.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.52 EPS. Analysts predict that ArcelorMittal will post 3.72 EPS for the current year.

ArcelorMittal Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 2nd. Stockholders of record on Friday, November 13th will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend is Friday, November 13th. ArcelorMittal’s payout ratio is presently 12.44%.

Institutional Investors Weigh In On ArcelorMittal

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. State of Wyoming bought a new stake in ArcelorMittal during the 3rd quarter worth approximately $36,000. True Wealth Design LLC boosted its position in shares of ArcelorMittal by 41.4% in the fourth quarter. True Wealth Design LLC now owns 799 shares of the basic materials company’s stock worth $36,000 after purchasing an additional 234 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in shares of ArcelorMittal in the fourth quarter worth $44,000. Geneos Wealth Management Inc. raised its position in shares of ArcelorMittal by 44.2% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,635 shares of the basic materials company’s stock valued at $47,000 after purchasing an additional 501 shares during the period. Finally, Allworth Financial LP raised its position in shares of ArcelorMittal by 91.5% during the 4th quarter. Allworth Financial LP now owns 1,126 shares of the basic materials company’s stock valued at $51,000 after purchasing an additional 538 shares during the period. 9.29% of the stock is owned by hedge funds and other institutional investors.

ArcelorMittal Company Profile

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.