ArcelorMittal (NYSE:MT) Receives Average Rating of "Hold" from Brokerages

Key Points

• ArcelorMittal has received an average recommendation of "Hold" from eight analysts, with five advising to hold and three to buy the stock.
• The average 1-year price target for ArcelorMittal is $32.96, while the stock's current opening price is $33.54.
• In its latest quarterly earnings, ArcelorMittal reported an EPS of $1.32, slightly missing the analyst consensus of $1.33, but achieving revenue of $15.93 billion, surpassing expectations.

Shares of ArcelorMittal (NYSE:MT - Get Free Report) have received an average recommendation of "Hold" from the eight analysts that are covering the firm, MarketBeat.com reports. Five analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $32.96.

A number of analysts have recently issued reports on MT shares. Barclays cut ArcelorMittal from an "overweight" rating to an "equal weight" rating in a research report on Wednesday, July 16th. Wells Fargo & Company raised ArcelorMittal to a "hold" rating in a research report on Thursday. Finally, Wall Street Zen cut ArcelorMittal from a "buy" rating to a "hold" rating in a research report on Sunday, July 20th.

Hedge Funds Weigh In On ArcelorMittal

Large investors have recently made changes to their positions in the company. SVB Wealth LLC bought a new position in ArcelorMittal during the 1st quarter worth $43,000. Geneos Wealth Management Inc. increased its stake in ArcelorMittal by 44.2% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,635 shares of the basic materials company's stock worth $47,000 after acquiring an additional 501 shares during the period. Hexagon Capital Partners LLC increased its stake in ArcelorMittal by 25.4% during the 1st quarter. Hexagon Capital Partners LLC now owns 1,779 shares of the basic materials company's stock worth $51,000 after acquiring an additional 360 shares during the period. GAMMA Investing LLC increased its stake in ArcelorMittal by 31.1% during the 1st quarter. GAMMA Investing LLC now owns 1,920 shares of the basic materials company's stock worth $55,000 after acquiring an additional 456 shares during the period. Finally, Bayforest Capital Ltd increased its stake in ArcelorMittal by 23.7% during the 1st quarter. Bayforest Capital Ltd now owns 2,298 shares of the basic materials company's stock worth $62,000 after acquiring an additional 440 shares during the period. Institutional investors own 9.29% of the company's stock.

ArcelorMittal Stock Performance

Shares of NYSE MT opened at $33.54 on Friday. The stock has a 50 day moving average price of $32.24 and a 200 day moving average price of $30.22. ArcelorMittal has a 52 week low of $21.59 and a 52 week high of $34.90. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.59 and a current ratio of 1.40. The stock has a market capitalization of $27.48 billion, a PE ratio of 10.35, a price-to-earnings-growth ratio of 0.15 and a beta of 1.65.

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

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.

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