ArcelorMittal (NYSE:MT) Cut to “Hold” at Wall Street Zen

Wall Street Zen cut shares of ArcelorMittal (NYSE:MT) from a buy rating to a hold rating in a report published on Sunday.

Other research analysts have also issued research reports about the company. Barclays lowered ArcelorMittal from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, July 16th. Wells Fargo & Company raised ArcelorMittal to a “hold” rating in a research report on Thursday, August 14th. 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, the stock presently has a consensus rating of “Hold” and a consensus target price of $33.45.

ArcelorMittal Trading Up 0.4%

MT opened at $35.96 on Friday. The business has a 50 day simple moving average of $33.53 and a two-hundred day simple moving average of $31.34. The firm has a market capitalization of $29.46 billion, a price-to-earnings ratio of 11.10, a PEG ratio of 0.16 and a beta of 1.64. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.40 and a quick ratio of 0.59. ArcelorMittal has a one year low of $21.59 and a one year high of $36.35.

ArcelorMittal (NYSE:MT) last released its quarterly earnings results 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 business had revenue of $15.93 billion for 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% on a year-over-year basis. During the same period in the previous year, the company earned $0.63 EPS. Analysts predict that ArcelorMittal will post 3.72 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. SVB Wealth LLC bought a new position in ArcelorMittal during the 1st quarter valued at approximately $43,000. Geneos Wealth Management Inc. boosted 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 worth $47,000 after buying an additional 501 shares during the last quarter. Hexagon Capital Partners LLC boosted 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 worth $51,000 after buying an additional 360 shares during the last quarter. GAMMA Investing LLC boosted its stake 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 worth $55,000 after buying an additional 456 shares during the last quarter. Finally, Bayforest Capital Ltd lifted its position in ArcelorMittal by 23.7% during the first quarter. Bayforest Capital Ltd now owns 2,298 shares of the basic materials company’s stock valued at $62,000 after purchasing an additional 440 shares in the last quarter. Institutional investors 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.