ArcelorMittal (NYSE:MT) Receives Average Recommendation of "Moderate Buy" from Analysts

Shares of ArcelorMittal (NYSE:MT - Get Free Report) have been given a consensus recommendation of "Moderate Buy" by the seven analysts that are currently covering the company, Marketbeat reports. Three research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $32.95.

Several analysts have weighed in on MT shares. The Goldman Sachs Group raised ArcelorMittal from a "neutral" rating to a "buy" rating and raised their price target for the company from $29.00 to $31.70 in a report on Thursday, April 10th. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating on shares of ArcelorMittal in a research report on Monday, April 14th. Finally, Jefferies Financial Group lowered ArcelorMittal from a "buy" rating to a "hold" rating and set a $36.20 price target on the stock. in a research report on Wednesday, March 26th.

ArcelorMittal Stock Up 2.1%

Shares of NYSE MT opened at $31.67 on Friday. ArcelorMittal has a one year low of $20.52 and a one year high of $34.90. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.35 and a quick ratio of 0.58. The business's fifty day moving average price is $30.27 and its 200-day moving average price is $27.88. The stock has a market capitalization of $25.95 billion, a PE ratio of 20.70, a P/E/G ratio of 0.15 and a beta of 1.65.

ArcelorMittal (NYSE:MT - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The basic materials company reported $1.04 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.71 by $0.33. The business had revenue of $14.80 billion for the quarter, compared to analysts' expectations of $15.11 billion. ArcelorMittal had a return on equity of 4.11% and a net margin of 1.98%. The firm's quarterly revenue was down 9.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.16 EPS. On average, equities research analysts anticipate that ArcelorMittal will post 3.72 EPS for the current year.

ArcelorMittal Cuts Dividend

The business also recently declared a dividend, which was paid on Wednesday, June 11th. Investors of record on Monday, May 19th were given a dividend of $0.2338 per share. The ex-dividend date was Friday, May 16th. This represents a yield of 1.44%. ArcelorMittal's payout ratio is 30.72%.

Institutional Investors Weigh In On ArcelorMittal

Large investors have recently made changes to their positions in the business. Hexagon Capital Partners LLC lifted its stake in shares of ArcelorMittal by 25.4% in the 1st quarter. Hexagon Capital Partners LLC now owns 1,779 shares of the basic materials company's stock valued at $51,000 after purchasing an additional 360 shares during the period. PNC Financial Services Group Inc. lifted its stake in shares of ArcelorMittal by 4.0% in the 1st quarter. PNC Financial Services Group Inc. now owns 9,438 shares of the basic materials company's stock valued at $272,000 after purchasing an additional 362 shares during the period. Evergreen Capital Management LLC lifted its stake in shares of ArcelorMittal by 3.0% in the 1st quarter. Evergreen Capital Management LLC now owns 14,097 shares of the basic materials company's stock valued at $407,000 after purchasing an additional 405 shares during the period. US Bancorp DE lifted its stake in shares of ArcelorMittal by 2.7% in the 1st quarter. US Bancorp DE now owns 15,496 shares of the basic materials company's stock valued at $447,000 after purchasing an additional 411 shares during the period. Finally, Bayforest Capital Ltd lifted its stake in shares of ArcelorMittal by 23.7% in the 1st quarter. Bayforest Capital Ltd now owns 2,298 shares of the basic materials company's stock valued at $62,000 after purchasing an additional 440 shares during the period. 9.29% of the stock is currently owned by institutional investors.

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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