ArcelorMittal (NYSE:MT) Given Consensus Recommendation of “Hold” by Brokerages

ArcelorMittal (NYSE:MT) has received a consensus rating of “Hold” from the ten ratings firms that are currently covering the company, MarketBeat reports. Seven investment analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $38.9750.

Several research analysts recently weighed in on the stock. UBS Group downgraded shares of ArcelorMittal from a “buy” rating to a “neutral” rating in a research report on Monday, November 17th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $49.00 target price on shares of ArcelorMittal in a research report on Wednesday, November 26th. Wall Street Zen downgraded ArcelorMittal from a “buy” rating to a “hold” rating in a research note on Saturday, October 11th. The Goldman Sachs Group reissued a “neutral” rating on shares of ArcelorMittal in a research report on Friday, October 10th. Finally, Citigroup restated a “buy” rating on shares of ArcelorMittal in a research report on Wednesday, October 8th.

Institutional Trading of ArcelorMittal

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Caxton Associates LLP purchased a new position in ArcelorMittal during the third quarter worth about $597,000. Qube Research & Technologies Ltd lifted its holdings in shares of ArcelorMittal by 9.1% in the 3rd quarter. Qube Research & Technologies Ltd now owns 170,102 shares of the basic materials company’s stock worth $6,149,000 after acquiring an additional 14,207 shares during the last quarter. Prelude Capital Management LLC purchased a new position in shares of ArcelorMittal during the 3rd quarter worth approximately $235,000. Mariner LLC increased its holdings in ArcelorMittal by 8.3% in the 3rd quarter. Mariner LLC now owns 34,137 shares of the basic materials company’s stock valued at $1,234,000 after purchasing an additional 2,626 shares during the last quarter. Finally, Focus Partners Wealth acquired a new stake in ArcelorMittal in the 3rd quarter valued at approximately $224,000. 9.29% of the stock is owned by institutional investors and hedge funds.

ArcelorMittal Trading Down 0.5%

Shares of MT stock opened at $44.99 on Friday. ArcelorMittal has a 1-year low of $21.59 and a 1-year high of $46.60. The company has a market cap of $34.87 billion, a price-to-earnings ratio of 13.39, a PEG ratio of 0.19 and a beta of 1.58. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.39 and a quick ratio of 0.58. The stock has a 50 day simple moving average of $40.76 and a 200-day simple moving average of $35.95.

ArcelorMittal (NYSE:MT) last posted its quarterly earnings data on Thursday, November 6th. The basic materials company reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.04. ArcelorMittal had a net margin of 4.23% and a return on equity of 4.94%. The company had revenue of $15.66 billion during the quarter, compared to analysts’ expectations of $15.88 billion. During the same period in the prior year, the business posted $0.63 earnings per share. The firm’s revenue for the quarter was up 3.0% on a year-over-year basis. On average, equities research analysts expect that ArcelorMittal will post 3.72 EPS for the current fiscal 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.