ArcelorMittal (NYSE:MT) Receives Consensus Recommendation of "Hold" from Analysts

Key Points

• Consensus "Hold": Thirteen analysts rate ArcelorMittal an average of Hold (1 Sell, 6 Hold, 6 Buy) with a 1‑year average price target of about $52.
• Q results and valuation: ArcelorMittal beat EPS estimates ($0.86 vs. $0.56) but missed revenue ($14.97B vs. $15.56B); shares opened at $49.63 with a 12‑month range of $23.19–$67.60, a P/E of 12.11 and a market cap near $38.5B.
• Analyst activity is mixed: Deutsche Bank, Citigroup and Morgan Stanley issued positive views while JPMorgan downgraded to underweight and Wells Fargo raised its target to $54 with an equal‑weight rating.

Shares of ArcelorMittal (NYSE:MT - Get Free Report) have earned an average recommendation of "Hold" from the thirteen research firms that are currently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, six have issued a hold recommendation and six have issued a buy recommendation on the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $51.9750.

A number of equities analysts recently issued reports on MT shares. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating on shares of ArcelorMittal in a research note on Friday, February 6th. Citigroup reaffirmed a "buy" rating on shares of ArcelorMittal in a report on Friday, February 13th. Wells Fargo & Company upped their target price on shares of ArcelorMittal from $47.00 to $54.00 and gave the stock an "equal weight" rating in a research note on Friday, February 6th. Morgan Stanley reiterated an "overweight" rating on shares of ArcelorMittal in a report on Tuesday, February 17th. Finally, JPMorgan Chase & Co. downgraded shares of ArcelorMittal from an "overweight" rating to an "underweight" rating in a research report on Monday, March 9th.

ArcelorMittal Stock Performance

ArcelorMittal stock opened at $49.63 on Friday. ArcelorMittal has a twelve month low of $23.19 and a twelve month high of $67.60. The company has a quick ratio of 0.53, a current ratio of 1.36 and a debt-to-equity ratio of 0.19. The company has a market capitalization of $38.46 billion, a P/E ratio of 12.11, a PEG ratio of 0.43 and a beta of 1.48. The stock's 50 day moving average is $57.34 and its 200 day moving average is $46.77.

ArcelorMittal (NYSE:MT - Get Free Report) last released its earnings results on Thursday, February 5th. The basic materials company reported $0.86 EPS for the quarter, topping the consensus estimate of $0.56 by $0.30. ArcelorMittal had a return on equity of 5.27% and a net margin of 5.14%.The business had revenue of $14.97 billion for the quarter, compared to the consensus estimate of $15.56 billion. During the same period in the previous year, the company posted $0.52 earnings per share. The company's revenue for the quarter was up 1.7% compared to the same quarter last year. On average, equities research analysts predict that ArcelorMittal will post 3.72 earnings per share for the current fiscal year.

ArcelorMittal Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 2nd. Investors of record on Friday, November 13th will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Friday, November 13th. This represents a $0.60 annualized dividend and a dividend yield of 1.2%. ArcelorMittal's dividend payout ratio (DPR) is 12.44%.

Hedge Funds Weigh In On ArcelorMittal

Hedge funds and other institutional investors have recently bought and sold shares of the stock. AlphaCore Capital LLC boosted its holdings in ArcelorMittal by 672.4% in the third quarter. AlphaCore Capital LLC now owns 31,894 shares of the basic materials company's stock worth $1,153,000 after purchasing an additional 27,765 shares during the last quarter. American Century Companies Inc. raised its stake in ArcelorMittal by 39.1% during the 2nd quarter. American Century Companies Inc. now owns 392,644 shares of the basic materials company's stock valued at $12,400,000 after buying an additional 110,420 shares during the last quarter. Capital Wealth Planning LLC bought a new position in shares of ArcelorMittal during the 3rd quarter valued at $3,326,000. Arrow Capital Pty Ltd bought a new position in shares of ArcelorMittal during the 2nd quarter valued at $5,206,000. Finally, Caprock Group LLC purchased a new position in shares of ArcelorMittal in the 3rd quarter worth $305,000. Institutional investors own 9.29% of the company's stock.

ArcelorMittal Company Profile

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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