ArcelorMittal (NYSE:MT) Receives $68.07 Consensus Target Price from Analysts

ArcelorMittal (NYSE:MT) has been given a consensus rating of “Hold” by the thirteen ratings firms that are currently covering the company, Marketbeat.com reports. Seven investment analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 1-year price target among brokerages that have covered the stock in the last year is $68.40.

A number of equities analysts have issued reports on MT shares. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $70.00 price objective on shares of ArcelorMittal in a research note on Tuesday, July 7th. Jefferies Financial Group reissued a “buy” rating on shares of ArcelorMittal in a research note on Monday, July 6th. JPMorgan Chase & Co. upgraded ArcelorMittal from an “underweight” rating to a “neutral” rating in a research report on Friday. Wells Fargo & Company lifted their price objective on ArcelorMittal from $61.00 to $62.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 9th. Finally, Weiss Ratings raised ArcelorMittal from a “hold (c)” rating to a “buy (b-)” rating in a research note on Monday, May 4th.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the business. GK Wealth Management LLC bought a new position in ArcelorMittal in the second quarter valued at approximately $408,000. GAMMA Investing LLC raised its stake in shares of ArcelorMittal by 15.5% during the 2nd quarter. GAMMA Investing LLC now owns 4,333 shares of the basic materials company’s stock worth $261,000 after purchasing an additional 581 shares in the last quarter. Moody National Bank Trust Division bought a new stake in shares of ArcelorMittal during the 2nd quarter worth approximately $205,000. Versant Capital Management Inc boosted its holdings in shares of ArcelorMittal by 12.9% in the 2nd quarter. Versant Capital Management Inc now owns 9,513 shares of the basic materials company’s stock valued at $573,000 after buying an additional 1,084 shares during the last quarter. Finally, NewEdge Advisors LLC boosted its holdings in shares of ArcelorMittal by 67.5% in the 1st quarter. NewEdge Advisors LLC now owns 21,359 shares of the basic materials company’s stock valued at $1,110,000 after buying an additional 8,607 shares during the last quarter. Institutional investors own 9.29% of the company’s stock.

ArcelorMittal Trading Down 0.2%

Shares of MT stock opened at $65.93 on Tuesday. ArcelorMittal has a 12-month low of $30.17 and a 12-month high of $72.50. The company has a market capitalization of $51.10 billion, a P/E ratio of 17.31, a P/E/G ratio of 0.53 and a beta of 1.55. The firm has a 50-day moving average price of $64.71 and a 200 day moving average price of $58.70. The company has a quick ratio of 0.54, a current ratio of 1.39 and a debt-to-equity ratio of 0.19.

ArcelorMittal (NYSE:MT) last released its quarterly earnings results on Thursday, April 30th. The basic materials company reported $0.76 earnings per share for the quarter, beating analysts’ consensus estimates of $0.72 by $0.04. ArcelorMittal had a return on equity of 4.77% and a net margin of 4.71%.The firm had revenue of $15.46 billion during the quarter, compared to analysts’ expectations of $17.04 billion. During the same period last year, the firm posted $1.05 EPS. The business’s revenue was up 4.5% on a year-over-year basis. Research analysts forecast that ArcelorMittal will post 4.68 earnings per share for the current fiscal year.

About ArcelorMittal

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.