ArcelorMittal (NYSE:MT) Earns Hold (C) Rating from Weiss Ratings

Key Points

• ArcelorMittal's stock received a **"hold (C)" rating** from Weiss Ratings, reflecting a cautious outlook on the company.
• Despite this, some analysts have raised their ratings; Wall Street Zen upgraded it to **"buy"** and Citigroup also reissued a **"buy" rating**.
• The company reported **$15.93 billion** in revenue for its latest quarter, slightly exceeding expectations, but it missed earnings estimates with **$1.32** per share against a consensus of **$1.33**.

ArcelorMittal (NYSE:MT - Get Free Report)'s stock had its "hold (c)" rating reaffirmed by analysts at Weiss Ratings in a research report issued to clients and investors on Wednesday,Weiss Ratings reports.

Several other equities analysts also recently commented on the stock. Wall Street Zen raised shares of ArcelorMittal from a "hold" rating to a "buy" rating in a report on Friday, October 3rd. Citigroup reissued a "buy" rating on shares of ArcelorMittal in a report on Wednesday. Wells Fargo & Company raised shares of ArcelorMittal to a "hold" rating in a report on Thursday, August 14th. Finally, Barclays downgraded shares of ArcelorMittal from an "overweight" rating to an "equal weight" rating in a report on Wednesday, July 16th. Four research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $33.45.

ArcelorMittal Price Performance

Shares of MT traded up $2.54 during mid-day trading on Wednesday, reaching $41.11. The stock had a trading volume of 1,912,323 shares, compared to its average volume of 1,898,300. The firm has a market cap of $33.68 billion, a price-to-earnings ratio of 12.68, a PEG ratio of 0.17 and a beta of 1.69. ArcelorMittal has a 12 month low of $21.59 and a 12 month high of $41.09. The business has a fifty day moving average of $34.33 and a 200 day moving average of $31.72. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.59 and a current ratio of 1.40.

ArcelorMittal (NYSE:MT - Get Free Report) last posted its quarterly 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). The firm had revenue of $15.93 billion during the quarter, compared to the consensus estimate of $15.48 billion. ArcelorMittal had a return on equity of 4.99% and a net margin of 4.11%.The business's revenue for the quarter was down 2.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.63 earnings per share. Equities analysts predict that ArcelorMittal will post 3.72 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MT. SVB Wealth LLC bought a new position in ArcelorMittal during the 1st quarter worth about $43,000. Geneos Wealth Management Inc. grew its holdings in ArcelorMittal by 44.2% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,635 shares of the basic materials company's stock worth $47,000 after acquiring an additional 501 shares in the last quarter. Hexagon Capital Partners LLC grew its holdings 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 worth $51,000 after acquiring an additional 360 shares in the last quarter. GAMMA Investing LLC grew its holdings in ArcelorMittal by 31.1% during the 1st quarter. GAMMA Investing LLC now owns 1,920 shares of the basic materials company's stock worth $55,000 after acquiring an additional 456 shares in the last quarter. Finally, Bayforest Capital Ltd grew its holdings in ArcelorMittal by 23.7% during the 1st quarter. Bayforest Capital Ltd now owns 2,298 shares of the basic materials company's stock worth $62,000 after acquiring an additional 440 shares in the last quarter. 9.29% of the stock is currently owned by institutional investors.

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.

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