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

ArcelorMittal (NYSE:MT) has received a consensus recommendation of “Moderate Buy” from the twelve brokerages that are presently covering the stock, Marketbeat reports. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $51.9750.

MT has been the topic of several research reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of ArcelorMittal in a report on Wednesday, January 21st. Santander raised ArcelorMittal from a “neutral” rating to an “outperform” rating in a research note on Thursday, February 5th. Citigroup restated a “buy” rating on shares of ArcelorMittal in a report on Friday, February 13th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of ArcelorMittal in a report on Friday, February 6th. Finally, UBS Group downgraded ArcelorMittal from a “buy” rating to a “neutral” rating in a research report on Monday, November 17th.

Hedge Funds Weigh In On ArcelorMittal

A number of institutional investors and hedge funds have recently made changes to their positions in the business. AQR Capital Management LLC raised its position in shares of ArcelorMittal by 75.0% during the 1st quarter. AQR Capital Management LLC now owns 34,038 shares of the basic materials company’s stock valued at $982,000 after buying an additional 14,593 shares in the last quarter. Geneos Wealth Management Inc. lifted its holdings in shares of ArcelorMittal by 44.2% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,635 shares of the basic materials company’s stock valued at $47,000 after acquiring an additional 501 shares during the last quarter. Atria Investments Inc grew its position in ArcelorMittal by 10.7% in the second quarter. Atria Investments Inc now owns 7,966 shares of the basic materials company’s stock worth $252,000 after acquiring an additional 767 shares in the last quarter. Bank of Montreal Can grew its position in ArcelorMittal by 1.1% in the second quarter. Bank of Montreal Can now owns 148,590 shares of the basic materials company’s stock worth $4,692,000 after acquiring an additional 1,580 shares in the last quarter. Finally, Vestmark Advisory Solutions Inc. increased its stake in ArcelorMittal by 46.4% during the second quarter. Vestmark Advisory Solutions Inc. now owns 24,240 shares of the basic materials company’s stock worth $765,000 after acquiring an additional 7,684 shares during the last quarter. 9.29% of the stock is owned by hedge funds and other institutional investors.

ArcelorMittal Stock Performance

MT opened at $55.32 on Wednesday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.53 and a current ratio of 1.36. The stock has a market capitalization of $42.87 billion, a price-to-earnings ratio of 13.49, a PEG ratio of 0.47 and a beta of 1.48. The company has a fifty day moving average of $55.81 and a 200 day moving average of $44.73. ArcelorMittal has a fifty-two week low of $23.19 and a fifty-two week high of $67.60.

ArcelorMittal (NYSE:MT) last announced its quarterly earnings results on Thursday, February 5th. The basic materials company reported $0.86 EPS for the quarter, topping the consensus estimate of $0.56 by $0.30. ArcelorMittal had a net margin of 5.14% and a return on equity of 5.27%. The business had revenue of $14.97 billion for the quarter, compared to analysts’ expectations of $15.56 billion. During the same quarter in the previous year, the company earned $0.52 EPS. The business’s quarterly revenue was up 1.7% compared to the same quarter last year. As a group, sell-side analysts forecast that ArcelorMittal will post 3.72 earnings per share for the current fiscal year.

ArcelorMittal Dividend Announcement

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 paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Friday, November 13th. This represents a $0.60 dividend on an annualized basis and a yield of 1.1%. ArcelorMittal’s dividend payout ratio is presently 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.