ArcelorMittal (NYSE:MT) Receives $33.45 Consensus Target Price from Brokerages

Key Points

• ArcelorMittal has received a consensus rating of "Hold" from eight analysts, with five recommending a hold and three a buy; the average target price is $33.45.
• Institutional investors have recently increased their stakes, with notable increases from Connor Clark & Lunn (up 22.0%) and Bank of America (up 56.7%).
• The company reported $1.32 earnings per share for the last quarter, slightly missing consensus estimates, while revenue was $15.93 billion, exceeding expectations.

Shares of ArcelorMittal (NYSE:MT - Get Free Report) have earned a consensus recommendation of "Hold" from the eight brokerages that are currently covering the company, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $33.45.

Several equities analysts have recently issued reports on the company. Barclays lowered ArcelorMittal from an "overweight" rating to an "equal weight" rating in a research note on Wednesday, July 16th. Wall Street Zen lowered ArcelorMittal from a "buy" rating to a "hold" rating in a research note on Sunday, July 20th. Finally, Wells Fargo & Company raised ArcelorMittal to a "hold" rating in a research note on Thursday, August 14th.

Institutional Trading of ArcelorMittal

Several large investors have recently bought and sold shares of MT. SVB Wealth LLC acquired a new stake in ArcelorMittal in the first quarter valued at about $43,000. Geneos Wealth Management Inc. increased its holdings in ArcelorMittal by 44.2% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,635 shares of the basic materials company's stock worth $47,000 after purchasing an additional 501 shares in the last quarter. Hexagon Capital Partners LLC increased its holdings in ArcelorMittal by 25.4% in the 1st quarter. Hexagon Capital Partners LLC now owns 1,779 shares of the basic materials company's stock worth $51,000 after purchasing an additional 360 shares in the last quarter. GAMMA Investing LLC increased its holdings in ArcelorMittal by 31.1% in the 1st quarter. GAMMA Investing LLC now owns 1,920 shares of the basic materials company's stock worth $55,000 after purchasing an additional 456 shares in the last quarter. Finally, Bayforest Capital Ltd increased its holdings in ArcelorMittal by 23.7% in the 1st quarter. Bayforest Capital Ltd now owns 2,298 shares of the basic materials company's stock worth $62,000 after purchasing an additional 440 shares in the last quarter. 9.29% of the stock is owned by institutional investors and hedge funds.

ArcelorMittal Price Performance

Shares of MT traded down $0.30 during trading hours on Wednesday, hitting $34.75. 957,641 shares of the company were exchanged, compared to its average volume of 1,964,258. The company has a market cap of $28.47 billion, a price-to-earnings ratio of 10.73, a P/E/G ratio of 0.15 and a beta of 1.64. ArcelorMittal has a fifty-two week low of $21.59 and a fifty-two week high of $35.13. The company has a quick ratio of 0.59, a current ratio of 1.40 and a debt-to-equity ratio of 0.19. The firm's fifty day moving average is $33.26 and its 200 day moving average is $31.07.

ArcelorMittal (NYSE:MT - Get Free Report) last released its earnings results on Thursday, July 31st. The basic materials company reported $1.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.33 by ($0.01). The company had revenue of $15.93 billion for the quarter, compared to analyst estimates of $15.48 billion. ArcelorMittal had a return on equity of 4.99% and a net margin of 4.11%.The business's revenue for the quarter was down 2.0% compared to the same quarter last year. During the same period last year, the company posted $0.63 earnings per share. On average, equities analysts anticipate that ArcelorMittal will post 3.72 earnings per share 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.