ArcelorMittal (NYSE:MT) Given "Neutral" Rating at The Goldman Sachs Group

Key Points

• ArcelorMittal's stock has been given a "neutral" rating by Goldman Sachs, while Citigroup has reaffirmed a "buy" rating and Barclays downgraded the stock to "equal weight."
• The company's stock recently experienced a 3.4% decline, opening at $39.54, with a current market cap of $32.39 billion.
• For its last quarter, ArcelorMittal reported $1.32 EPS, slightly missing the analysts' consensus, while its revenue decreased 2.0% year-over-year.

ArcelorMittal (NYSE:MT - Get Free Report)'s stock had its "neutral" rating restated by research analysts at The Goldman Sachs Group in a note issued to investors on Friday.

Several other equities research analysts also recently issued reports on MT. Citigroup reaffirmed a "buy" rating on shares of ArcelorMittal in a report on Wednesday. Barclays cut shares of ArcelorMittal from an "overweight" rating to an "equal weight" rating in a research note on Wednesday, July 16th. Wall Street Zen raised shares of ArcelorMittal from a "hold" rating to a "buy" rating in a research note on Friday, October 3rd. Wells Fargo & Company upgraded shares of ArcelorMittal to a "hold" rating in a report on Thursday, August 14th. Finally, Weiss Ratings restated a "hold (c)" rating on shares of ArcelorMittal in a report on Wednesday. Three investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $33.45.

ArcelorMittal Stock Down 3.4%

NYSE:MT opened at $39.54 on Friday. The stock's fifty day moving average price is $34.66 and its two-hundred day moving average price is $31.84. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.59 and a current ratio of 1.40. The company has a market cap of $32.39 billion, a price-to-earnings ratio of 12.20, a P/E/G ratio of 0.18 and a beta of 1.69. ArcelorMittal has a 52-week low of $21.59 and a 52-week high of $41.28.

ArcelorMittal (NYSE:MT - Get Free Report) last released its earnings results on Thursday, July 31st. The basic materials company reported $1.32 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.33 by ($0.01). ArcelorMittal had a return on equity of 4.99% and a net margin of 4.11%.The firm had revenue of $15.93 billion for the quarter, compared to the consensus estimate of $15.48 billion. During the same quarter last year, the company posted $0.63 EPS. ArcelorMittal's revenue for the quarter was down 2.0% on a year-over-year basis. On average, analysts anticipate that ArcelorMittal will post 3.72 EPS for the current year.

Institutional Investors Weigh In On ArcelorMittal

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. raised its position in ArcelorMittal by 12.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 76,010 shares of the basic materials company's stock worth $2,193,000 after acquiring an additional 8,448 shares during the period. Summit Securities Group LLC bought a new position in ArcelorMittal in the first quarter worth approximately $3,778,000. FORA Capital LLC bought a new position in ArcelorMittal in the first quarter worth approximately $440,000. New York State Common Retirement Fund bought a new stake in shares of ArcelorMittal during the 1st quarter valued at $1,647,000. Finally, Russell Investments Group Ltd. raised its position in shares of ArcelorMittal by 232.6% during the 1st quarter. Russell Investments Group Ltd. now owns 33,858 shares of the basic materials company's stock valued at $977,000 after purchasing an additional 23,678 shares during the period. Hedge funds and other institutional investors own 9.29% of the company's stock.

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.

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