Analysts Set ArcelorMittal S.A. (NYSE:MT) PT at $32.95

ArcelorMittal S.A. (NYSE:MT - Get Free Report) has earned an average recommendation of "Moderate Buy" from the seven analysts that are covering the company, MarketBeat.com reports. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $32.95.

Several analysts have commented on the stock. The Goldman Sachs Group upgraded shares of ArcelorMittal from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $29.00 to $31.70 in a research note on Thursday, April 10th. Morgan Stanley downgraded ArcelorMittal from an "overweight" rating to an "equal weight" rating in a research report on Friday, February 14th. Deutsche Bank Aktiengesellschaft restated a "buy" rating on shares of ArcelorMittal in a research report on Monday, April 14th. Finally, Jefferies Financial Group cut ArcelorMittal from a "buy" rating to a "hold" rating and set a $36.20 price objective on the stock. in a research note on Wednesday, March 26th.

ArcelorMittal Stock Performance

NYSE MT traded up $0.46 on Thursday, reaching $30.27. 915,536 shares of the stock were exchanged, compared to its average volume of 1,856,004. The company has a current ratio of 1.35, a quick ratio of 0.59 and a debt-to-equity ratio of 0.17. ArcelorMittal has a one year low of $20.52 and a one year high of $34.90. The firm has a market capitalization of $24.80 billion, a PE ratio of 18.35, a PEG ratio of 0.14 and a beta of 1.62. The company's 50-day simple moving average is $29.32 and its two-hundred day simple moving average is $26.53.

ArcelorMittal (NYSE:MT - Get Free Report) last released its earnings results on Wednesday, April 30th. The basic materials company reported $1.04 earnings per share for the quarter, beating analysts' consensus estimates of $0.71 by $0.33. The company had revenue of $14.80 billion for the quarter, compared to analysts' expectations of $15.11 billion. ArcelorMittal had a net margin of 2.14% and a return on equity of 4.31%. ArcelorMittal's revenue for the quarter was down 9.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.16 EPS. Analysts expect that ArcelorMittal will post 3.72 EPS for the current fiscal year.

ArcelorMittal Dividend Announcement

The firm also recently declared a semi-annual dividend, which will be paid on Wednesday, December 3rd. Investors of record on Thursday, November 13th will be paid a dividend of $0.275 per share. This represents a dividend yield of 1.5%. The ex-dividend date is Wednesday, November 12th. ArcelorMittal's dividend payout ratio is currently 30.07%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Geneos Wealth Management Inc. grew its stake in ArcelorMittal by 89.6% in the 4th quarter. Geneos Wealth Management Inc. now owns 1,134 shares of the basic materials company's stock worth $26,000 after acquiring an additional 536 shares in the last quarter. GAMMA Investing LLC raised its position in ArcelorMittal by 68.5% during the 4th quarter. GAMMA Investing LLC now owns 1,464 shares of the basic materials company's stock valued at $34,000 after purchasing an additional 595 shares in the last quarter. Hexagon Capital Partners LLC raised its position 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 valued at $51,000 after purchasing an additional 360 shares in the last quarter. Bayforest Capital Ltd lifted its holdings 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 worth $62,000 after buying an additional 440 shares during the period. Finally, BNP Paribas Financial Markets grew its position in shares of ArcelorMittal by 76.2% during the 4th quarter. BNP Paribas Financial Markets now owns 4,878 shares of the basic materials company's stock worth $113,000 after buying an additional 2,110 shares in the last quarter. 9.29% of the stock is currently owned by institutional investors.

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.