ArcelorMittal (NYSE:MT) Receives $34.95 Average Target Price from Analysts

by · The Markets Daily

ArcelorMittal (NYSE:MT – Get Free Report) has earned an average rating of “Hold” from the nine research firms that are presently covering the company, Marketbeat Ratings reports. Six analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $34.95.

MT has been the topic of a number of recent research reports. Wells Fargo & Company reiterated a “cautious” rating and set a $39.00 price objective (up from $33.00) on shares of ArcelorMittal in a research note on Thursday, October 23rd. Wall Street Zen downgraded shares of ArcelorMittal from a “buy” rating to a “hold” rating in a research note on Saturday, October 11th. Citigroup reiterated a “buy” rating on shares of ArcelorMittal in a research note on Wednesday, October 8th. Barclays downgraded shares of ArcelorMittal from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, July 16th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of ArcelorMittal in a research note on Wednesday, October 8th.

Check Out Our Latest Research Report on MT

ArcelorMittal Price Performance

Shares of MT stock opened at $38.04 on Thursday. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.40 and a quick ratio of 0.59. The company has a market capitalization of $31.17 billion, a P/E ratio of 11.74, a P/E/G ratio of 0.17 and a beta of 1.69. The company’s 50-day simple moving average is $36.46 and its two-hundred day simple moving average is $33.17. ArcelorMittal has a one year low of $21.59 and a one year high of $41.28.

ArcelorMittal (NYSE:MT – Get Free Report) last issued its earnings results on Thursday, July 31st. The basic materials company reported $1.32 EPS for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.01). The company had revenue of $15.93 billion during the quarter, compared to the consensus estimate of $15.48 billion. ArcelorMittal had a return on equity of 4.99% and a net margin of 4.11%.ArcelorMittal’s revenue was down 2.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.63 earnings per share. As a group, equities analysts anticipate that ArcelorMittal will post 3.72 EPS for the current year.

Institutional Investors Weigh In On ArcelorMittal

Several institutional investors have recently bought and sold shares of MT. GAMMA Investing LLC boosted its stake in ArcelorMittal by 31.1% in the first quarter. GAMMA Investing LLC now owns 1,920 shares of the basic materials company’s stock valued at $55,000 after acquiring an additional 456 shares in the last quarter. Hexagon Capital Partners LLC boosted its stake in ArcelorMittal by 25.4% in the first quarter. Hexagon Capital Partners LLC now owns 1,779 shares of the basic materials company’s stock valued at $51,000 after acquiring an additional 360 shares in the last quarter. Callan Capital LLC boosted its stake in ArcelorMittal by 16.0% in the first quarter. Callan Capital LLC now owns 36,607 shares of the basic materials company’s stock valued at $1,056,000 after acquiring an additional 5,052 shares in the last quarter. New York State Common Retirement Fund acquired a new stake in ArcelorMittal in the first quarter valued at approximately $1,647,000. Finally, Gallacher Capital Management LLC boosted its stake in ArcelorMittal by 8.2% in the first quarter. Gallacher Capital Management LLC now owns 12,287 shares of the basic materials company’s stock valued at $354,000 after acquiring an additional 932 shares in the last quarter. 9.29% of the stock is currently owned by institutional investors and hedge funds.

ArcelorMittal Company Profile

(Get Free Report)

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.

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