ArcelorMittal S.A. (NYSE:MT) Given Average Recommendation of “Moderate Buy” by Brokerages

ArcelorMittal S.A. (NYSE:MT) has received an average recommendation of “Moderate Buy” from the six research firms that are currently covering the company, Marketbeat.com reports. Three investment analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $31.17.

Several research analysts have recently issued reports on MT shares. Bank of America upgraded shares of ArcelorMittal from a “neutral” rating to a “buy” rating and upped their target price for the stock from $30.00 to $32.90 in a research note on Thursday, November 14th. Morgan Stanley lowered shares of ArcelorMittal from an “overweight” rating to an “equal weight” rating in a report on Friday, February 14th.

Institutional Investors Weigh In On ArcelorMittal

Several large investors have recently made changes to their positions in MT. Bank of New York Mellon Corp grew its holdings in ArcelorMittal by 221.3% during the 4th quarter. Bank of New York Mellon Corp now owns 3,403,048 shares of the basic materials company’s stock valued at $78,712,000 after buying an additional 2,344,020 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of ArcelorMittal by 146.7% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,535,319 shares of the basic materials company’s stock worth $35,512,000 after buying an additional 912,984 shares during the last quarter. ABC Arbitrage SA purchased a new stake in shares of ArcelorMittal during the 4th quarter valued at about $9,895,000. FMR LLC lifted its holdings in shares of ArcelorMittal by 46.7% in the 3rd quarter. FMR LLC now owns 1,317,833 shares of the basic materials company’s stock valued at $34,606,000 after acquiring an additional 419,465 shares during the last quarter. Finally, OLD Mission Capital LLC grew its position in ArcelorMittal by 145.8% in the fourth quarter. OLD Mission Capital LLC now owns 678,350 shares of the basic materials company’s stock worth $15,690,000 after acquiring an additional 402,402 shares in the last quarter. 9.29% of the stock is owned by institutional investors.

ArcelorMittal Trading Down 0.8 %

Shares of MT opened at $27.78 on Friday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.59 and a current ratio of 1.35. The firm has a market cap of $22.76 billion, a price-to-earnings ratio of 16.83, a PEG ratio of 0.14 and a beta of 1.74. The firm has a 50 day moving average price of $24.54 and a 200-day moving average price of $24.25. ArcelorMittal has a fifty-two week low of $20.52 and a fifty-two week high of $29.38.

ArcelorMittal (NYSE:MT) last released its quarterly earnings results on Thursday, February 6th. The basic materials company reported $0.52 EPS for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.09). ArcelorMittal had a net margin of 2.14% and a return on equity of 4.31%. As a group, equities research analysts forecast that ArcelorMittal will post 3.72 earnings per share for the current year.

ArcelorMittal Company Profile

ArcelorMittal SA, together with its subsidiaries, operates as integrated steel and mining companies in the United States, Europe, and internationally. It offers semi-finished flat products, including slabs; finished flat products comprising plates, hot- and cold-rolled coils and sheets, hot-dipped and electro-galvanized coils and sheets, tinplate, and color coated coils and sheets; semi-finished long products, such as blooms and billets; finished long products consisting of bars, wire-rods, structural sections, rails, sheet piles, and wire-products; and seamless and welded pipes and tubes.