Analysts Set ArcelorMittal S.A. (NYSE:MT) Target Price at $32.95

Shares of ArcelorMittal S.A. (NYSE:MT) have received an average recommendation of “Moderate Buy” from the seven research firms that are presently covering the company, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $32.95.

A number of research firms have recently weighed in on MT. Morgan Stanley downgraded shares of ArcelorMittal from an “overweight” rating to an “equal weight” rating in a research report on Friday, February 14th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of ArcelorMittal in a report on Monday, April 14th. Jefferies Financial Group cut ArcelorMittal from a “buy” rating to a “hold” rating and set a $36.20 price target on the stock. in a report on Wednesday, March 26th. Finally, The Goldman Sachs Group raised shares of ArcelorMittal from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $29.00 to $31.70 in a research note on Thursday, April 10th.

Hedge Funds Weigh In On ArcelorMittal

Several hedge funds have recently bought and sold shares of MT. Hexagon Capital Partners LLC lifted its position in ArcelorMittal by 25.4% during the first quarter. Hexagon Capital Partners LLC now owns 1,779 shares of the basic materials company’s stock valued at $51,000 after purchasing an additional 360 shares during the last quarter. PNC Financial Services Group Inc. grew its stake in shares of ArcelorMittal by 4.0% during the first quarter. PNC Financial Services Group Inc. now owns 9,438 shares of the basic materials company’s stock valued at $272,000 after buying an additional 362 shares during the last quarter. US Bancorp DE increased its stake in ArcelorMittal by 2.7% in the 1st quarter. US Bancorp DE now owns 15,496 shares of the basic materials company’s stock worth $447,000 after purchasing an additional 411 shares during the period. Bayforest Capital Ltd raised its holdings in ArcelorMittal by 23.7% during the 1st quarter. Bayforest Capital Ltd now owns 2,298 shares of the basic materials company’s stock valued at $62,000 after buying an additional 440 shares during the last quarter. Finally, GAMMA Investing LLC raised its position in ArcelorMittal by 31.1% during the 1st quarter. GAMMA Investing LLC now owns 1,920 shares of the basic materials company’s stock valued at $55,000 after purchasing an additional 456 shares during the last quarter. Hedge funds and other institutional investors own 9.29% of the company’s stock.

ArcelorMittal Trading Up 1.5 %

Shares of NYSE MT opened at $30.27 on Thursday. ArcelorMittal has a twelve month low of $20.52 and a twelve month high of $34.90. The company’s fifty day moving average is $29.32 and its 200-day moving average is $26.55. The stock has a market cap of $24.80 billion, a price-to-earnings ratio of 18.35, a P/E/G ratio of 0.14 and a beta of 1.62. The company has a quick ratio of 0.59, a current ratio of 1.35 and a debt-to-equity ratio of 0.17.

ArcelorMittal (NYSE:MT) last announced its earnings results on Wednesday, April 30th. The basic materials company reported $1.04 EPS for the quarter, topping the consensus estimate of $0.71 by $0.33. The business had revenue of $14.80 billion during the quarter, compared to analysts’ expectations of $15.11 billion. ArcelorMittal had a net margin of 2.14% and a return on equity of 4.31%. The firm’s revenue was down 9.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.16 earnings per share. Equities research analysts predict that ArcelorMittal will post 3.72 EPS for the current year.

ArcelorMittal Dividend Announcement

The firm also recently declared a semi-annual dividend, which will be paid on Wednesday, December 3rd. Investors of record on Thursday, November 13th will be paid a dividend of $0.275 per share. This represents a dividend yield of 1.5%. The ex-dividend date of this dividend is Wednesday, November 12th. ArcelorMittal’s payout ratio is currently 30.07%.

About ArcelorMittal

ArcelorMittal SA, together with its subsidiaries, operates as integrated steel and mining companies in the United States, Europe, and internationally. It offers semi-finished flat products, including slabs; finished flat products comprising plates, hot- and cold-rolled coils and sheets, hot-dipped and electro-galvanized coils and sheets, tinplate, and color coated coils and sheets; semi-finished long products, such as blooms and billets; finished long products consisting of bars, wire-rods, structural sections, rails, sheet piles, and wire-products; and seamless and welded pipes and tubes.