ArcelorMittal’s (MT) Hold Rating Reaffirmed at Deutsche Bank Aktiengesellschaft

Deutsche Bank Aktiengesellschaft reaffirmed their hold rating on shares of ArcelorMittal (NYSE:MT) in a research note issued to investors on Tuesday morning, Marketbeat reports. Deutsche Bank Aktiengesellschaft currently has a $31.00 target price on the basic materials company’s stock, down from their previous target price of $34.00.

Separately, StockNews.com cut shares of ArcelorMittal from a buy rating to a hold rating in a research note on Monday, March 4th.

ArcelorMittal Price Performance

MT opened at $25.19 on Tuesday. The company has a market capitalization of $20.29 billion, a price-to-earnings ratio of 25.19, a PEG ratio of 0.34 and a beta of 1.93. The company has a quick ratio of 0.67, a current ratio of 1.53 and a debt-to-equity ratio of 0.15. The firm has a 50-day moving average price of $26.90 and a 200-day moving average price of $25.89. ArcelorMittal has a twelve month low of $21.30 and a twelve month high of $30.15.

ArcelorMittal (NYSE:MT) last posted its earnings results on Thursday, February 8th. The basic materials company reported ($3.57) earnings per share for the quarter, missing the consensus estimate of ($2.08) by ($1.49). The business had revenue of $14.55 billion during the quarter, compared to analysts’ expectations of $16.39 billion. ArcelorMittal had a return on equity of 8.55% and a net margin of 1.35%. ArcelorMittal’s revenue for the quarter was down 13.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.37 EPS. Equities analysts expect that ArcelorMittal will post 4.37 EPS for the current year.

Hedge Funds Weigh In On ArcelorMittal

Several hedge funds have recently bought and sold shares of MT. Principal Securities Inc. bought a new stake in ArcelorMittal during the fourth quarter valued at approximately $25,000. GAMMA Investing LLC bought a new stake in ArcelorMittal during the fourth quarter valued at approximately $30,000. EverSource Wealth Advisors LLC lifted its position in ArcelorMittal by 84.6% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,128 shares of the basic materials company’s stock valued at $32,000 after purchasing an additional 517 shares during the last quarter. Blue Trust Inc. lifted its position in ArcelorMittal by 336.3% during the fourth quarter. Blue Trust Inc. now owns 1,309 shares of the basic materials company’s stock valued at $37,000 after purchasing an additional 1,009 shares during the last quarter. Finally, Captrust Financial Advisors lifted its position in ArcelorMittal by 166.1% during the first quarter. Captrust Financial Advisors now owns 1,381 shares of the basic materials company’s stock valued at $44,000 after purchasing an additional 862 shares during the last quarter. Hedge funds and other institutional investors own 9.88% of the company’s stock.

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.