ArcelorMittal S.A. (NYSE:MT) Receives Average Rating of “Moderate Buy” from Brokerages

ArcelorMittal S.A. (NYSE:MT) has received a consensus rating of “Moderate Buy” from the five research firms that are presently covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $31.17.

MT has been the topic of several recent research reports. Bank of America upgraded ArcelorMittal from a “neutral” rating to a “buy” rating and raised their target price for the company from $30.00 to $32.90 in a report on Thursday, November 14th. JPMorgan Chase & Co. cut shares of ArcelorMittal from an “overweight” rating to a “neutral” rating in a research note on Friday, October 11th.

ArcelorMittal Stock Performance

Shares of MT opened at $21.96 on Friday. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.46 and a quick ratio of 0.59. ArcelorMittal has a 12-month low of $20.52 and a 12-month high of $28.95. The business’s fifty day moving average price is $24.42 and its 200 day moving average price is $23.71. The stock has a market capitalization of $17.69 billion, a PE ratio of -15.57, a price-to-earnings-growth ratio of 0.61 and a beta of 1.75.

ArcelorMittal (NYSE:MT) last released its quarterly earnings results on Thursday, November 7th. The basic materials company reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.05. ArcelorMittal had a positive return on equity of 5.26% and a negative net margin of 1.99%. The company had revenue of $15.20 billion during the quarter, compared to analysts’ expectations of $15.11 billion. During the same quarter in the prior year, the business posted $1.10 earnings per share. The company’s revenue for the quarter was down 8.5% compared to the same quarter last year. Equities research analysts forecast that ArcelorMittal will post 2.93 EPS for the current year.

Institutional Trading of ArcelorMittal

Several large investors have recently modified their holdings of MT. GAMMA Investing LLC grew its holdings in ArcelorMittal by 68.5% during the 4th quarter. GAMMA Investing LLC now owns 1,464 shares of the basic materials company’s stock worth $34,000 after acquiring an additional 595 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in ArcelorMittal by 298.1% in the second quarter. Allspring Global Investments Holdings LLC now owns 2,365 shares of the basic materials company’s stock worth $54,000 after purchasing an additional 1,771 shares in the last quarter. Rhumbline Advisers increased its stake in shares of ArcelorMittal by 6.8% in the 2nd quarter. Rhumbline Advisers now owns 9,633 shares of the basic materials company’s stock valued at $221,000 after acquiring an additional 610 shares in the last quarter. Atria Investments Inc acquired a new position in shares of ArcelorMittal during the 3rd quarter valued at $244,000. Finally, Truist Financial Corp bought a new position in ArcelorMittal during the second quarter worth $250,000. 9.29% of the stock is owned by institutional investors and hedge funds.

About ArcelorMittal

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.