ArcelorMittal (NYSE:MT) Stock Has Consensus Price Target of $74.55

ArcelorMittal (NYSE:MT) has been given an average rating of “Moderate Buy” by the fifteen research firms that are presently covering the firm, Marketbeat.com reports. Seven research analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 1 year price target among brokerages that have covered the stock in the last year is $74.55.

A number of analysts recently commented on the stock. Wells Fargo & Company lowered their price objective on shares of ArcelorMittal from $69.00 to $64.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 6th. Jefferies Financial Group reaffirmed a “buy” rating on shares of ArcelorMittal in a research report on Wednesday, September 23rd. UBS Group upgraded ArcelorMittal from a “neutral” rating to a “buy” rating in a report on Friday, October 9th. Deutsche Bank Aktiengesellschaft set a $79.00 target price on shares of ArcelorMittal and gave the stock a “buy” rating in a report on Monday, October 5th. Finally, Weiss Ratings upgraded shares of ArcelorMittal from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, October 14th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP raised its stake in ArcelorMittal by 0.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,232,495 shares of the basic materials company’s stock worth $168,008,000 after purchasing an additional 11,503 shares in the last quarter. Maple Rock Capital Partners Inc. raised its position in shares of ArcelorMittal by 54.9% in the 2nd quarter. Maple Rock Capital Partners Inc. now owns 2,190,860 shares of the basic materials company’s stock valued at $131,934,000 after buying an additional 776,595 shares in the last quarter. Quantinno Capital Management LP lifted its holdings in shares of ArcelorMittal by 11.7% during the 1st quarter. Quantinno Capital Management LP now owns 335,931 shares of the basic materials company’s stock worth $17,461,000 after acquiring an additional 35,298 shares during the period. Amanah Holdings Trust bought a new position in shares of ArcelorMittal in the 4th quarter valued at $6,744,000. Finally, Castle Hook Partners LP acquired a new position in ArcelorMittal during the fourth quarter worth about $5,955,000. 9.29% of the stock is owned by institutional investors and hedge funds.

ArcelorMittal Stock Performance

Shares of NYSE:MT opened at $63.44 on Thursday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.57 and a current ratio of 1.43. The firm has a market cap of $49.17 billion, a PE ratio of 26.88, a price-to-earnings-growth ratio of 0.59 and a beta of 1.54. ArcelorMittal has a twelve month low of $36.70 and a twelve month high of $79.68. The business has a fifty day moving average of $70.47 and a 200-day moving average of $66.67.

ArcelorMittal (NYSE:MT) last posted its quarterly earnings data on Thursday, July 30th. The basic materials company reported $0.90 earnings per share for the quarter, missing the consensus estimate of $1.18 by ($0.28). The company had revenue of $16.76 billion during the quarter, compared to the consensus estimate of $17.56 billion. ArcelorMittal had a return on equity of 4.20% and a net margin of 2.88%. The business’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same quarter last year, the firm earned $1.32 EPS. On average, equities research analysts predict that ArcelorMittal will post 3.61 EPS for the current fiscal year.

ArcelorMittal Company Profile

ArcelorMittal SA (NYSE: MT) is one of the world’s largest integrated steel and mining companies. The company produces steel products for the automotive, construction, appliance, energy, engineering and packaging industries, serving customers through a combination of primary steelmaking, finishing and distribution operations.

Its product portfolio includes flat steel, long steel, tubular products, bars, wire rod and specialized automotive steels. ArcelorMittal also operates iron ore mining and pelletizing activities that support its steel production and supply chain.

The company was formed in 2006 through the merger of Arcelor and Mittal Steel.