ArcelorMittal (NYSE:MT) Given Consensus Rating of “Hold” by Brokerages

Shares of ArcelorMittal (NYSE:MT) have been given an average recommendation of “Hold” by the twelve analysts that are currently covering the firm, Marketbeat Ratings reports. Seven investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $74.80.

Several analysts have issued reports on the stock. JPMorgan Chase & Co. upgraded shares of ArcelorMittal from an “underweight” rating to a “neutral” rating in a research report on Friday, July 10th. Morgan Stanley started coverage on shares of ArcelorMittal in a research note on Monday. They issued an “overweight” rating and a $82.00 target price for the company. Weiss Ratings downgraded ArcelorMittal from a “buy (b-)” rating to a “hold (c)” rating in a research report on Thursday, August 13th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $75.00 price target on shares of ArcelorMittal in a research note on Friday, July 31st. Finally, Wells Fargo & Company upped their price target on ArcelorMittal from $62.00 to $69.00 and gave the company an “equal weight” rating in a report on Friday, July 31st.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of MT. Cetera Investment Advisers grew its holdings in ArcelorMittal by 1.0% during the 4th quarter. Cetera Investment Advisers now owns 18,386 shares of the basic materials company’s stock worth $838,000 after acquiring an additional 190 shares during the period. Aaron Wealth Advisors LLC raised its position in shares of ArcelorMittal by 4.9% during the 1st quarter. Aaron Wealth Advisors LLC now owns 5,671 shares of the basic materials company’s stock valued at $295,000 after acquiring an additional 263 shares during the last quarter. Parallel Advisors LLC lifted its stake in shares of ArcelorMittal by 16.4% in the 4th quarter. Parallel Advisors LLC now owns 2,455 shares of the basic materials company’s stock valued at $112,000 after purchasing an additional 346 shares during the period. GC Wealth Management RIA LLC boosted its position in shares of ArcelorMittal by 4.2% in the 1st quarter. GC Wealth Management RIA LLC now owns 10,186 shares of the basic materials company’s stock worth $529,000 after purchasing an additional 413 shares during the last quarter. Finally, Dorsey & Whitney Trust CO LLC boosted its position in shares of ArcelorMittal by 6.7% in the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 7,143 shares of the basic materials company’s stock worth $326,000 after purchasing an additional 448 shares during the last quarter. 9.29% of the stock is currently owned by institutional investors and hedge funds.

ArcelorMittal Stock Up 1.2%

Shares of MT stock opened at $73.51 on Wednesday. ArcelorMittal has a 12 month low of $31.93 and a 12 month high of $75.66. The firm has a market cap of $56.97 billion, a PE ratio of 31.15, a price-to-earnings-growth ratio of 0.54 and a beta of 1.53. The stock has a 50 day moving average of $67.60 and a 200-day moving average of $63.21. The company has a quick ratio of 0.57, a current ratio of 1.43 and a debt-to-equity ratio of 0.21.

ArcelorMittal (NYSE:MT) last released its earnings results on Thursday, July 30th. The basic materials company reported $0.90 EPS for the quarter, missing the consensus estimate of $1.18 by ($0.28). ArcelorMittal had a net margin of 2.88% and a return on equity of 4.20%. The company had revenue of $16.76 billion for the quarter, compared to analyst estimates of $17.56 billion. During the same quarter in the previous year, the company earned $1.32 earnings per share. ArcelorMittal’s revenue for the quarter was up 5.2% compared to the same quarter last year. On average, equities analysts predict that ArcelorMittal will post 4.48 EPS for the current year.

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.