ArcelorMittal (NYSE:MT) Earns Neutral Rating from The Goldman Sachs Group

ArcelorMittal (NYSE:MT)‘s stock had its “neutral” rating reaffirmed by The Goldman Sachs Group in a report released on Friday, MarketBeat Ratings reports.

A number of other research firms also recently commented on MT. Weiss Ratings reiterated a “hold (c)” rating on shares of ArcelorMittal in a report on Wednesday. Citigroup reiterated a “buy” rating on shares of ArcelorMittal in a report on Wednesday. Wells Fargo & Company raised ArcelorMittal to a “hold” rating in a research note on Thursday, August 14th. Wall Street Zen raised ArcelorMittal from a “hold” rating to a “buy” rating in a research note on Friday, October 3rd. Finally, Barclays downgraded ArcelorMittal from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, July 16th. Three analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $33.45.

ArcelorMittal Stock Down 6.0%

Shares of ArcelorMittal stock opened at $37.16 on Friday. The business has a fifty day simple moving average of $34.78 and a 200 day simple moving average of $31.88. The stock has a market cap of $30.44 billion, a PE ratio of 11.47, a price-to-earnings-growth ratio of 0.16 and a beta of 1.69. The company has a quick ratio of 0.59, a current ratio of 1.40 and a debt-to-equity ratio of 0.19. ArcelorMittal has a 12 month low of $21.59 and a 12 month high of $41.28.

ArcelorMittal (NYSE:MT) last released its quarterly earnings data on Thursday, July 31st. The basic materials company reported $1.32 EPS for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.01). The company had revenue of $15.93 billion during the quarter, compared to the consensus estimate of $15.48 billion. ArcelorMittal had a net margin of 4.11% and a return on equity of 4.99%. The company’s revenue for the quarter was down 2.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.63 EPS. Research analysts predict that ArcelorMittal will post 3.72 EPS for the current year.

Institutional Trading of ArcelorMittal

Hedge funds and other institutional investors have recently modified their holdings of the company. SVB Wealth LLC acquired a new stake in shares of ArcelorMittal in the 1st quarter valued at about $43,000. Geneos Wealth Management Inc. raised its stake in shares of ArcelorMittal by 44.2% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,635 shares of the basic materials company’s stock valued at $47,000 after purchasing an additional 501 shares during the period. Hexagon Capital Partners LLC raised its stake in shares of ArcelorMittal by 25.4% in 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 grew 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 acquiring an additional 456 shares in the last quarter. Finally, Bayforest Capital Ltd grew its holdings in shares of ArcelorMittal by 23.7% in the 1st quarter. Bayforest Capital Ltd now owns 2,298 shares of the basic materials company’s stock valued at $62,000 after acquiring an additional 440 shares in the last quarter. Institutional investors and hedge funds own 9.29% of the company’s stock.

About ArcelorMittal

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.