Analysts Set ArcelorMittal (NYSE:MT) Target Price at $61.07

ArcelorMittal (NYSE:MT) has earned 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 rating, six have given a hold rating and six have issued a buy rating on the company. The average 12-month price objective among brokers that have covered the stock in the last year is $61.0667.

A number of equities research analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of ArcelorMittal in a research note on Friday, February 6th. Santander downgraded shares of ArcelorMittal from an “outperform” rating to a “neutral” rating in a report on Tuesday, April 21st. JPMorgan Chase & Co. lowered shares of ArcelorMittal from an “overweight” rating to an “underweight” rating in a research report on Monday, March 9th. Wells Fargo & Company upped their target price on shares of ArcelorMittal from $60.00 to $61.00 and gave the company an “equal weight” rating in a report on Friday, May 1st. Finally, Morgan Stanley reiterated an “overweight” rating on shares of ArcelorMittal in a research report on Tuesday, February 17th.

ArcelorMittal Price Performance

NYSE MT opened at $66.03 on Monday. The stock has a market capitalization of $51.17 billion, a price-to-earnings ratio of 17.33, a PEG ratio of 0.52 and a beta of 1.48. ArcelorMittal has a 1-year low of $29.62 and a 1-year high of $67.60. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.39 and a quick ratio of 0.54. The business’s fifty day moving average price is $57.49 and its 200-day moving average price is $52.63.

ArcelorMittal (NYSE:MT) last issued its quarterly earnings data on Thursday, April 30th. The basic materials company reported $0.76 EPS for the quarter, topping the consensus estimate of $0.72 by $0.04. ArcelorMittal had a return on equity of 4.77% and a net margin of 4.71%.The company had revenue of $15.46 billion during the quarter, compared to analyst estimates of $17.04 billion. During the same quarter in the previous year, the company posted $1.05 earnings per share. ArcelorMittal’s revenue was up 4.5% compared to the same quarter last year. On average, equities analysts predict that ArcelorMittal will post 4.69 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. EverSource Wealth Advisors LLC lifted its position in shares of ArcelorMittal by 28.6% during the 1st quarter. EverSource Wealth Advisors LLC now owns 4,580 shares of the basic materials company’s stock valued at $238,000 after buying an additional 1,019 shares in the last quarter. Recurrent Investment Advisors LLC raised its stake in ArcelorMittal by 5.0% during the 1st quarter. Recurrent Investment Advisors LLC now owns 15,403 shares of the basic materials company’s stock worth $801,000 after acquiring an additional 734 shares during the period. Quantinno Capital Management LP lifted its holdings in ArcelorMittal by 11.7% during the first quarter. Quantinno Capital Management LP now owns 335,931 shares of the basic materials company’s stock valued at $17,461,000 after purchasing an additional 35,298 shares in the last quarter. GC Wealth Management RIA LLC lifted its holdings in ArcelorMittal by 4.2% during the first quarter. GC Wealth Management RIA LLC now owns 10,186 shares of the basic materials company’s stock valued at $529,000 after purchasing an additional 413 shares in the last quarter. Finally, Compound Planning Inc. boosted its position in shares of ArcelorMittal by 26.1% in the first quarter. Compound Planning Inc. now owns 6,413 shares of the basic materials company’s stock worth $333,000 after purchasing an additional 1,326 shares during the period. Institutional investors own 9.29% of the company’s stock.

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.