ArcelorMittal (NYSE:MT) Downgraded to Hold Rating by Wall Street Zen

ArcelorMittal (NYSE:MT) was downgraded by investment analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Sunday.

Several other research analysts have also commented on the stock. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of ArcelorMittal in a report on Monday, April 14th. Barclays lowered shares of ArcelorMittal from an “overweight” rating to an “equal weight” rating in a report on Wednesday. Jefferies Financial Group lowered shares of 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. Finally, The Goldman Sachs Group raised shares of ArcelorMittal from a “neutral” rating to a “buy” rating and lifted their price target for the company from $29.00 to $31.70 in a report on Thursday, April 10th. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $32.95.

ArcelorMittal Price Performance

MT opened at $32.47 on Friday. The company has a fifty day simple moving average of $31.37 and a 200 day simple moving average of $28.90. The firm has a market cap of $26.60 billion, a price-to-earnings ratio of 21.22, a PEG ratio of 0.14 and a beta of 1.63. ArcelorMittal has a twelve month low of $20.52 and a twelve month high of $34.90. The company has a current ratio of 1.35, a quick ratio of 0.58 and a debt-to-equity ratio of 0.16.

ArcelorMittal (NYSE:MT) last released its quarterly 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 business had revenue of $14.80 billion during the quarter, compared to analyst estimates of $15.11 billion. ArcelorMittal had a net margin of 1.98% and a return on equity of 4.11%. The business’s revenue was down 9.1% on a year-over-year basis. During the same period last year, the business earned $1.16 EPS. Equities research analysts expect that ArcelorMittal will post 3.72 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. OLD Mission Capital LLC lifted its stake in ArcelorMittal by 145.8% in the fourth quarter. OLD Mission Capital LLC now owns 678,350 shares of the basic materials company’s stock valued at $15,690,000 after acquiring an additional 402,402 shares during the last quarter. Telemark Asset Management LLC acquired a new stake in ArcelorMittal in the first quarter valued at approximately $11,540,000. Connor Clark & Lunn Investment Management Ltd. lifted its stake in ArcelorMittal by 22.0% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,872,477 shares of the basic materials company’s stock valued at $54,021,000 after acquiring an additional 337,158 shares during the last quarter. Bank of America Corp DE lifted its stake in ArcelorMittal by 56.7% in the fourth quarter. Bank of America Corp DE now owns 784,252 shares of the basic materials company’s stock valued at $18,140,000 after acquiring an additional 283,758 shares during the last quarter. Finally, Northern Trust Corp lifted its stake in ArcelorMittal by 31.7% in the fourth quarter. Northern Trust Corp now owns 1,153,924 shares of the basic materials company’s stock valued at $26,690,000 after acquiring an additional 277,891 shares during the last quarter. 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.