ArcelorMittal (NYSE:MT) Given Average Rating of "Hold" by Brokerages

ArcelorMittal (NYSE:MT - Get Free Report) has been given a consensus rating of "Hold" by the seven analysts that are currently covering the firm, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $32.95.

A number of brokerages have recently issued reports on MT. Barclays cut shares of ArcelorMittal from an "overweight" rating to an "equal weight" rating in a report on Wednesday, July 16th. Deutsche Bank Aktiengesellschaft reissued a "buy" rating on shares of ArcelorMittal in a research report on Monday, April 14th. Wall Street Zen lowered shares of ArcelorMittal from a "buy" rating to a "hold" rating in a research report on Sunday, July 20th. Finally, The Goldman Sachs Group raised shares of 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 research report on Thursday, April 10th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. SVB Wealth LLC purchased a new position in shares of ArcelorMittal during the 1st quarter worth $43,000. Geneos Wealth Management Inc. raised its holdings in shares of 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 raised its holdings in shares of 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 raised its holdings in shares of 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 raised its holdings in shares of 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. Hedge funds and other institutional investors own 9.29% of the company's stock.

ArcelorMittal Stock Performance

Shares of NYSE:MT traded up $0.07 on Tuesday, reaching $33.66. 1,644,911 shares of the company's stock were exchanged, compared to its average volume of 1,378,382. The company has a fifty day moving average of $31.65 and a 200-day moving average of $29.26. The company has a current ratio of 1.35, a quick ratio of 0.58 and a debt-to-equity ratio of 0.16. ArcelorMittal has a twelve month low of $20.52 and a twelve month high of $34.90. The company has a market capitalization of $27.57 billion, a price-to-earnings ratio of 22.00, a PEG ratio of 0.15 and a beta of 1.63.

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

ArcelorMittal Cuts Dividend

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

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.