ArcelorMittal (NYSE:MT) Receives Average Rating of "Hold" from Analysts

Key Points

• Analysts have a consensus “Hold” rating on ArcelorMittal, with seven holds and five buys among 12 brokerages. The average 12-month price target is $74.80, while Morgan Stanley set a higher target of $82.
• ArcelorMittal shares were down 3.6%, opening at $72.44, near the company’s 52-week high of $79.68. The stock has a $56.14 billion market capitalization and a price-to-earnings ratio of 30.69.
• The company’s latest quarterly results fell short of expectations, reporting $0.90 in adjusted earnings per share versus the $1.18 consensus estimate and revenue of $16.76 billion versus $17.56 billion expected.

ArcelorMittal (NYSE:MT - Get Free Report) has been assigned a consensus rating of "Hold" from the twelve brokerages that are covering the firm, Marketbeat reports. Seven research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $74.80.

A number of equities analysts recently weighed in on MT shares. Citigroup reiterated a "buy" rating on shares of ArcelorMittal in a research report on Tuesday, August 4th. Morgan Stanley began coverage on shares of ArcelorMittal in a research note on Monday, August 24th. They issued an "overweight" rating and a $82.00 target price for the company. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating on shares of ArcelorMittal in a report on Friday, September 4th. Weiss Ratings upgraded shares of ArcelorMittal from a "hold (c)" rating to a "hold (c+)" rating in a research note on Friday, September 11th. Finally, JPMorgan Chase & Co. raised shares of ArcelorMittal from an "underweight" rating to a "neutral" rating in a report on Friday, July 10th.

ArcelorMittal Stock Down 3.6%

MT opened at $72.44 on Friday. ArcelorMittal has a 52 week low of $35.14 and a 52 week high of $79.68. The business has a 50 day moving average price of $72.03 and a two-hundred day moving average price of $64.63. The company has a quick ratio of 0.57, a current ratio of 1.43 and a debt-to-equity ratio of 0.21. The company has a market cap of $56.14 billion, a PE ratio of 30.69, a P/E/G ratio of 0.51 and a beta of 1.55.

ArcelorMittal (NYSE:MT - Get Free Report) last announced its earnings results on Thursday, July 30th. The basic materials company reported $0.90 earnings per share for the quarter, missing the consensus estimate of $1.18 by ($0.28). ArcelorMittal had a net margin of 2.88% and a return on equity of 4.20%. The company had revenue of $16.76 billion during the quarter, compared to analysts' expectations of $17.56 billion. During the same quarter last year, the business posted $1.32 earnings per share. The company's revenue for the quarter was up 5.2% compared to the same quarter last year. As a group, research analysts anticipate that ArcelorMittal will post 4.46 EPS for the current year.

Hedge Funds Weigh In On ArcelorMittal

Large investors have recently modified their holdings of the business. Aaron Wealth Advisors LLC lifted its holdings in shares of ArcelorMittal by 4.9% in the 1st quarter. Aaron Wealth Advisors LLC now owns 5,671 shares of the basic materials company's stock valued at $295,000 after buying an additional 263 shares during the period. GC Wealth Management RIA LLC grew its holdings in ArcelorMittal by 4.2% during the first quarter. GC Wealth Management RIA LLC now owns 10,186 shares of the basic materials company's stock worth $529,000 after acquiring an additional 413 shares during the period. Allworth Financial LP raised its position in ArcelorMittal by 91.5% in the fourth quarter. Allworth Financial LP now owns 1,126 shares of the basic materials company's stock worth $51,000 after acquiring an additional 538 shares in the last quarter. EverSource Wealth Advisors LLC raised its position in ArcelorMittal by 19.2% in the fourth quarter. EverSource Wealth Advisors LLC now owns 3,561 shares of the basic materials company's stock worth $162,000 after acquiring an additional 573 shares in the last quarter. Finally, Integrated Wealth Concepts LLC acquired a new stake in ArcelorMittal in the second quarter valued at $35,000. 9.29% of the stock is owned by hedge funds and other institutional investors.

About ArcelorMittal

ArcelorMittal SA is a global steel and mining company with operations spanning the Americas, Europe and Africa. The company produces and sells steel products for industries including automotive, construction, infrastructure, energy, packaging and general manufacturing.

Its portfolio includes flat steel, long steel, tubular products and tailored solutions designed for specific industrial applications. ArcelorMittal also operates iron ore mining and processing activities, which supply raw materials for its steelmaking operations and support its vertically integrated business model.

ArcelorMittal was formed in 2006 through the merger of Arcelor and Mittal Steel.

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