ArcelorMittal (NYSE:MT) Receives $51.98 Consensus Price Target from Analysts

Shares of ArcelorMittal (NYSE:MT) have received a consensus rating of “Hold” from the thirteen ratings firms that are currently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating on the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $51.9750.

Several equities analysts have issued reports on MT shares. Morgan Stanley reaffirmed an “overweight” rating on shares of ArcelorMittal in a report on Tuesday, February 17th. Oddo Bhf raised ArcelorMittal from a “neutral” rating to an “outperform” rating in a research report on Wednesday, January 14th. Wells Fargo & Company raised their price target on ArcelorMittal from $47.00 to $54.00 and gave the stock an “equal weight” rating in a research note on Friday, February 6th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of ArcelorMittal in a research report on Friday, February 6th. Finally, KeyCorp started coverage on ArcelorMittal in a report on Wednesday, March 25th. They issued a “sector weight” rating for the company.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of MT. Cetera Investment Advisers increased its stake in ArcelorMittal by 1.0% in the fourth quarter. Cetera Investment Advisers now owns 18,386 shares of the basic materials company’s stock valued at $838,000 after purchasing an additional 190 shares during the period. TD Waterhouse Canada Inc. grew its holdings in shares of ArcelorMittal by 11.2% during the fourth quarter. TD Waterhouse Canada Inc. now owns 2,141 shares of the basic materials company’s stock worth $98,000 after buying an additional 216 shares during the last quarter. True Wealth Design LLC increased its position in ArcelorMittal by 41.4% in the 4th quarter. True Wealth Design LLC now owns 799 shares of the basic materials company’s stock valued at $36,000 after acquiring an additional 234 shares during the period. Merit Financial Group LLC increased its position in ArcelorMittal by 3.1% in the 3rd quarter. Merit Financial Group LLC now owns 9,453 shares of the basic materials company’s stock valued at $342,000 after acquiring an additional 283 shares during the period. Finally, GK Wealth Management LLC raised its stake in ArcelorMittal by 4.1% during the 3rd quarter. GK Wealth Management LLC now owns 7,129 shares of the basic materials company’s stock valued at $258,000 after acquiring an additional 284 shares during the last quarter. 9.29% of the stock is owned by hedge funds and other institutional investors.

ArcelorMittal Stock Up 7.1%

Shares of NYSE:MT opened at $51.94 on Friday. The firm has a 50 day simple moving average of $57.39 and a 200-day simple moving average of $47.08. ArcelorMittal has a twelve month low of $23.19 and a twelve month high of $67.60. The company has a current ratio of 1.36, a quick ratio of 0.53 and a debt-to-equity ratio of 0.19. The company has a market capitalization of $40.25 billion, a PE ratio of 12.67, a P/E/G ratio of 0.42 and a beta of 1.47.

ArcelorMittal (NYSE:MT) last posted its earnings results on Thursday, February 5th. The basic materials company reported $0.86 EPS for the quarter, beating analysts’ consensus estimates of $0.56 by $0.30. ArcelorMittal had a net margin of 5.14% and a return on equity of 5.27%. The firm had revenue of $14.97 billion for the quarter, compared to the consensus estimate of $15.56 billion. During the same period last year, the firm posted $0.52 EPS. The company’s revenue was up 1.7% on a year-over-year basis. On average, equities analysts predict that ArcelorMittal will post 3.72 EPS for the current fiscal year.

ArcelorMittal Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 2nd. Investors of record on Friday, November 13th will be given a $0.15 dividend. The ex-dividend date is Friday, November 13th. This represents a $0.60 annualized dividend and a yield of 1.2%. ArcelorMittal’s dividend payout ratio is 12.44%.

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.