Analysts Set ArcelorMittal S.A. (NYSE:MT) Price Target at $30.30

ArcelorMittal S.A. (NYSE:MT) has received an average recommendation of “Moderate Buy” from the five analysts that are covering the company, MarketBeat.com reports. Two analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $30.30.

MT has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft upgraded ArcelorMittal from a “hold” rating to a “buy” rating and raised their target price for the company from $29.00 to $31.00 in a research note on Wednesday, August 28th. Barclays upgraded ArcelorMittal from an “equal weight” rating to an “overweight” rating in a report on Monday, August 19th.

Hedge Funds Weigh In On ArcelorMittal

Several large investors have recently modified their holdings of MT. BNP Paribas Financial Markets bought a new position in ArcelorMittal during the first quarter worth $2,705,000. Goldman Sachs Group Inc. lifted its position in shares of ArcelorMittal by 8.6% in the 4th quarter. Goldman Sachs Group Inc. now owns 839,485 shares of the basic materials company’s stock worth $23,833,000 after buying an additional 66,813 shares during the last quarter. PNC Financial Services Group Inc. boosted its holdings in shares of ArcelorMittal by 24.8% in the 4th quarter. PNC Financial Services Group Inc. now owns 4,115 shares of the basic materials company’s stock valued at $117,000 after buying an additional 818 shares during the period. Blue Trust Inc. grew its position in shares of ArcelorMittal by 1,820.0% during the 2nd quarter. Blue Trust Inc. now owns 2,016 shares of the basic materials company’s stock valued at $46,000 after buying an additional 1,911 shares during the last quarter. Finally, Quantbot Technologies LP raised its stake in ArcelorMittal by 160.6% during the first quarter. Quantbot Technologies LP now owns 57,664 shares of the basic materials company’s stock worth $1,590,000 after acquiring an additional 35,535 shares during the period. Institutional investors own 9.88% of the company’s stock.

ArcelorMittal Stock Performance

ArcelorMittal stock opened at $24.38 on Friday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.66 and a current ratio of 1.53. ArcelorMittal has a one year low of $20.52 and a one year high of $29.01. The stock’s 50 day moving average price is $22.60 and its 200 day moving average price is $24.52. The firm has a market capitalization of $19.63 billion, a PE ratio of 27.39, a price-to-earnings-growth ratio of 0.37 and a beta of 1.76.

ArcelorMittal (NYSE:MT) last announced its earnings results on Thursday, August 1st. The basic materials company reported $0.63 earnings per share for the quarter, missing the consensus estimate of $1.12 by ($0.49). ArcelorMittal had a negative net margin of 0.93% and a positive return on equity of 6.00%. The firm had revenue of $16.25 billion during the quarter, compared to analysts’ expectations of $16.32 billion. During the same quarter last year, the company posted $2.20 earnings per share. ArcelorMittal’s revenue for the quarter was down 12.7% compared to the same quarter last year. As a group, sell-side analysts expect that ArcelorMittal will post 3.51 EPS for the current fiscal year.

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.