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

ArcelorMittal S.A. (NYSE:MT - Get Free Report) has been assigned an average rating of "Moderate Buy" from the seven ratings firms that are covering the stock, Marketbeat reports. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $32.95.

A number of research firms have weighed in on MT. The Goldman Sachs Group raised ArcelorMittal from a "neutral" rating to a "buy" rating and increased their target price for the company from $29.00 to $31.70 in a report on Thursday, April 10th. Morgan Stanley downgraded shares of ArcelorMittal from an "overweight" rating to an "equal weight" rating in a research report on Friday, February 14th. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating on shares of ArcelorMittal in a 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 for the company. in a report on Wednesday, March 26th.

ArcelorMittal Stock Performance

Shares of NYSE:MT traded up $0.16 during midday trading on Thursday, reaching $31.36. 221,405 shares of the company's stock traded hands, compared to its average volume of 2,310,560. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.59 and a current ratio of 1.35. The company has a market cap of $25.69 billion, a price-to-earnings ratio of 19.01, a P/E/G ratio of 0.14 and a beta of 1.62. The stock has a 50 day moving average of $29.27 and a 200 day moving average of $26.62. ArcelorMittal has a one year low of $20.52 and a one year high of $34.90.

ArcelorMittal (NYSE:MT - Get Free Report) last posted its earnings results on Wednesday, April 30th. The basic materials company reported $1.04 EPS for the quarter, topping analysts' consensus estimates 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 2.14% and a return on equity of 4.31%. The firm's revenue was down 9.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.16 EPS. As a group, equities research analysts anticipate that ArcelorMittal will post 3.72 EPS for the current fiscal year.

ArcelorMittal Dividend Announcement

The business also recently disclosed a semi-annual dividend, which will be paid on Wednesday, December 3rd. Shareholders of record on Thursday, November 13th will be given a dividend of $0.275 per share. The ex-dividend date of this dividend is Wednesday, November 12th. This represents a yield of 1.5%. ArcelorMittal's dividend payout ratio (DPR) is presently 30.07%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. GAMMA Investing LLC lifted its stake in ArcelorMittal by 68.5% in the fourth quarter. GAMMA Investing LLC now owns 1,464 shares of the basic materials company's stock worth $34,000 after purchasing an additional 595 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of ArcelorMittal by 221.3% during the fourth quarter. Bank of New York Mellon Corp now owns 3,403,048 shares of the basic materials company's stock worth $78,712,000 after purchasing an additional 2,344,020 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of ArcelorMittal by 24.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 67,562 shares of the basic materials company's stock valued at $1,563,000 after purchasing an additional 13,141 shares during the period. American Century Companies Inc. grew its holdings in shares of ArcelorMittal by 4.8% in the fourth quarter. American Century Companies Inc. now owns 280,838 shares of the basic materials company's stock worth $6,496,000 after purchasing an additional 12,929 shares during the last quarter. Finally, Callan Family Office LLC bought a new position in shares of ArcelorMittal in the fourth quarter worth about $207,000. 9.29% of the stock is owned by hedge funds and other 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.