ArcelorMittal (NYSE:MT) Upgraded at Wall Street Zen

ArcelorMittal (NYSE:MT) was upgraded by analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued on Saturday.

Several other analysts have also recently issued reports on the stock. Wells Fargo & Company upgraded shares of ArcelorMittal to a “hold” rating in a research note on Thursday, August 14th. Barclays cut shares of ArcelorMittal from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, July 16th. Three research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, ArcelorMittal currently has a consensus rating of “Hold” and an average price target of $33.45.

ArcelorMittal Trading Down 0.9%

NYSE:MT opened at $34.75 on Friday. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.40 and a quick ratio of 0.59. The company has a market cap of $28.47 billion, a PE ratio of 10.73, a PEG ratio of 0.16 and a beta of 1.64. ArcelorMittal has a one year low of $21.59 and a one year high of $35.13. The firm has a 50-day moving average of $33.30 and a 200-day moving average of $31.12.

ArcelorMittal (NYSE:MT) last released its earnings results on Thursday, July 31st. The basic materials company reported $1.32 earnings per share for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.01). ArcelorMittal had a net margin of 4.11% and a return on equity of 4.99%. The company had revenue of $15.93 billion for the quarter, compared to the consensus estimate of $15.48 billion. During the same period in the prior year, the company earned $0.63 earnings per share. The firm’s revenue was down 2.0% on a year-over-year basis. As a group, equities research analysts expect that ArcelorMittal will post 3.72 EPS for the current fiscal year.

Hedge Funds Weigh In On ArcelorMittal

A number of hedge funds have recently modified their holdings of the company. SVB Wealth LLC bought a new position in shares of ArcelorMittal during the first quarter worth $43,000. Geneos Wealth Management Inc. increased its stake in ArcelorMittal by 44.2% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,635 shares of the basic materials company’s stock worth $47,000 after buying an additional 501 shares during the period. Hexagon Capital Partners LLC increased its position in ArcelorMittal by 25.4% during the 1st quarter. Hexagon Capital Partners LLC now owns 1,779 shares of the basic materials company’s stock valued at $51,000 after purchasing an additional 360 shares during the period. GAMMA Investing LLC boosted its holdings in shares of ArcelorMittal by 31.1% in the 1st quarter. GAMMA Investing LLC now owns 1,920 shares of the basic materials company’s stock valued at $55,000 after buying an additional 456 shares in the last quarter. Finally, Bayforest Capital Ltd boosted its stake in ArcelorMittal by 23.7% in the 1st quarter. Bayforest Capital Ltd now owns 2,298 shares of the basic materials company’s stock worth $62,000 after purchasing an additional 440 shares in the last quarter. 9.29% of the stock is currently owned by 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.