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

Shares of ArcelorMittal (NYSE:MT) have been assigned an average recommendation of “Hold” from the thirteen analysts that are currently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, six have issued a hold recommendation and six have assigned a buy recommendation to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $61.0667.

A number of equities research analysts have commented on MT shares. Weiss Ratings raised ArcelorMittal from a “hold (c)” rating to a “buy (b-)” rating in a report on Monday, May 4th. Citigroup reissued a “buy” rating on shares of ArcelorMittal in a report on Wednesday, May 20th. Morgan Stanley reissued an “overweight” rating on shares of ArcelorMittal in a report on Tuesday, February 17th. KeyCorp began coverage on ArcelorMittal in a research report on Wednesday, March 25th. They set a “sector weight” rating for the company. Finally, JPMorgan Chase & Co. lowered ArcelorMittal from an “overweight” rating to an “underweight” rating in a research report on Monday, March 9th.

ArcelorMittal Price Performance

NYSE:MT opened at $69.18 on Friday. The company has a quick ratio of 0.54, a current ratio of 1.39 and a debt-to-equity ratio of 0.19. The business’s 50-day simple moving average is $62.40 and its two-hundred day simple moving average is $55.63. The stock has a market cap of $53.61 billion, a PE ratio of 18.16, a P/E/G ratio of 0.52 and a beta of 1.53. ArcelorMittal has a 52 week low of $29.80 and a 52 week high of $72.50.

ArcelorMittal (NYSE:MT) last posted its quarterly earnings results on Thursday, April 30th. The basic materials company reported $0.76 EPS for the quarter, beating analysts’ consensus estimates of $0.72 by $0.04. The business had revenue of $15.46 billion for the quarter, compared to analysts’ expectations of $17.04 billion. ArcelorMittal had a return on equity of 4.77% and a net margin of 4.71%.The business’s quarterly revenue was up 4.5% on a year-over-year basis. During the same period last year, the firm earned $1.05 earnings per share. As a group, analysts forecast that ArcelorMittal will post 4.69 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. True Wealth Design LLC grew its position in shares of ArcelorMittal by 41.4% during the fourth 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. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in shares of ArcelorMittal during the fourth quarter valued at about $44,000. State of Wyoming purchased a new position in shares of ArcelorMittal during the third quarter valued at about $36,000. Allworth Financial LP grew its position in shares of ArcelorMittal by 91.5% during the fourth 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 in the last quarter. Finally, CIBC Private Wealth Group LLC grew its position in shares of ArcelorMittal by 126.5% during the fourth quarter. CIBC Private Wealth Group LLC now owns 1,146 shares of the basic materials company’s stock valued at $52,000 after purchasing an additional 640 shares in the last quarter. Hedge funds and other institutional investors own 9.29% of the company’s stock.

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.