ArcelorMittal (NYSE:MT) Given Average Recommendation of “Hold” by Analysts

ArcelorMittal (NYSE:MT – Get Free Report) has been given a consensus recommendation of “Hold” by the thirteen brokerages that are presently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $68.0667.

A number of brokerages recently issued reports on MT. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $70.00 target price on shares of ArcelorMittal in a report on Tuesday. KeyCorp began coverage on shares of ArcelorMittal in a report on Wednesday, March 25th. They set a “sector weight” rating on the stock. Wells Fargo & Company raised their price objective on shares of ArcelorMittal from $60.00 to $61.00 and gave the company an “equal weight” rating in a research note on Friday, May 1st. Santander cut shares of ArcelorMittal from an “outperform” rating to a “neutral” rating in a report on Tuesday, April 21st. Finally, Citigroup reissued a “buy” rating on shares of ArcelorMittal in a research report on Wednesday, May 20th.

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Institutional Trading of ArcelorMittal

Several institutional investors and hedge funds have recently modified their holdings of MT. Dimensional Fund Advisors LP lifted its holdings in shares of ArcelorMittal by 0.4% in the first quarter. Dimensional Fund Advisors LP now owns 3,232,495 shares of the basic materials company’s stock valued at $168,008,000 after purchasing an additional 11,503 shares in the last quarter. Maple Rock Capital Partners Inc. raised its position in ArcelorMittal by 42.4% in the 4th quarter. Maple Rock Capital Partners Inc. now owns 1,630,600 shares of the basic materials company’s stock valued at $74,306,000 after buying an additional 485,400 shares during the last quarter. UBS Group AG raised its position in ArcelorMittal by 405.2% in the 3rd quarter. UBS Group AG now owns 1,181,358 shares of the basic materials company’s stock valued at $42,706,000 after buying an additional 947,532 shares during the last quarter. Bank of America Corp DE lifted its stake in ArcelorMittal by 15.6% during the 3rd quarter. Bank of America Corp DE now owns 947,909 shares of the basic materials company’s stock valued at $34,267,000 after acquiring an additional 128,045 shares in the last quarter. Finally, Retirement Systems of Alabama bought a new position in ArcelorMittal during the 4th quarter valued at $30,721,000. 9.29% of the stock is owned by hedge funds and other institutional investors.

ArcelorMittal Stock Down 2.0%

ArcelorMittal stock traded down $1.32 during midday trading on Tuesday, reaching $64.03. The stock had a trading volume of 1,153,894 shares, compared to its average volume of 1,927,407. The company has a fifty day moving average price of $63.96 and a two-hundred day moving average price of $57.88. ArcelorMittal has a 12 month low of $30.17 and a 12 month high of $72.50. The company has a current ratio of 1.39, a quick ratio of 0.54 and a debt-to-equity ratio of 0.19. The company has a market capitalization of $49.62 billion, a P/E ratio of 16.82, a PEG ratio of 0.51 and a beta of 1.55.

ArcelorMittal (NYSE:MT – Get Free Report) last announced its quarterly earnings results on Thursday, April 30th. The basic materials company reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.04. The business had revenue of $15.46 billion for the quarter, compared to analyst estimates of $17.04 billion. ArcelorMittal had a return on equity of 4.77% and a net margin of 4.71%.The company’s quarterly revenue was up 4.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.05 earnings per share. As a group, equities analysts expect that ArcelorMittal will post 4.72 EPS for the current fiscal year.

About ArcelorMittal

(Get Free Report)

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.

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