ArcelorMittal (NYSE:MT) Lowered to "Underweight" Rating by JPMorgan Chase & Co.

Key Points

• JPMorgan Chase & Co. downgraded ArcelorMittal (NYSE:MT) from overweight to underweight, and the stock traded down about 3.7% (opened at $55.32) on the news.
• Analyst coverage is mixed—six Buys, five Holds and one Sell—resulting in an average rating of Hold with a consensus price target of $51.98.
• In its latest quarter ArcelorMittal beat EPS estimates ($0.86 vs. $0.56) but missed revenue forecasts ($14.97B vs. $15.56B), and analysts project about 3.72 EPS for the current year.

ArcelorMittal (NYSE:MT - Get Free Report) was downgraded by stock analysts at JPMorgan Chase & Co. from an "overweight" rating to an "underweight" rating in a note issued to investors on Monday.

A number of other equities analysts also recently commented on the stock. Jefferies Financial Group raised shares of ArcelorMittal from a "hold" rating to a "buy" rating and raised their target price for the company from $51.10 to $73.20 in a research note on Wednesday, February 11th. Santander upgraded ArcelorMittal from a "neutral" rating to an "outperform" rating in a report on Thursday, February 5th. UBS Group lowered ArcelorMittal from a "buy" rating to a "neutral" rating in a research report on Monday, November 17th. Deutsche Bank Aktiengesellschaft restated a "buy" rating on shares of ArcelorMittal in a research note on Friday, February 6th. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of ArcelorMittal in a research report on Wednesday, January 21st. Six research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $51.98.

ArcelorMittal Trading Down 3.7%

MT stock opened at $55.32 on Monday. ArcelorMittal has a 52 week low of $23.19 and a 52 week high of $67.60. The company has a market cap of $42.87 billion, a price-to-earnings ratio of 13.49, a PEG ratio of 0.45 and a beta of 1.47. The company has a quick ratio of 0.53, a current ratio of 1.36 and a debt-to-equity ratio of 0.19. The business has a fifty day simple moving average of $55.81 and a 200-day simple moving average of $44.88.

ArcelorMittal (NYSE:MT - Get Free Report) last released its quarterly earnings data on Thursday, February 5th. The basic materials company reported $0.86 EPS for the quarter, topping analysts' consensus estimates of $0.56 by $0.30. The company had revenue of $14.97 billion for the quarter, compared to the consensus estimate of $15.56 billion. ArcelorMittal had a return on equity of 5.27% and a net margin of 5.14%.The company's quarterly revenue was up 1.7% compared to the same quarter last year. During the same period last year, the business posted $0.52 EPS. On average, equities research analysts expect that ArcelorMittal will post 3.72 EPS for the current year.

Institutional Trading of ArcelorMittal

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Maple Rock Capital Partners Inc. bought a new position in ArcelorMittal during the 3rd quarter valued at $41,399,000. UBS Group AG grew its stake in ArcelorMittal by 405.2% in the third quarter. UBS Group AG now owns 1,181,358 shares of the basic materials company's stock worth $42,706,000 after purchasing an additional 947,532 shares in the last quarter. Retirement Systems of Alabama bought a new stake in ArcelorMittal in the fourth quarter valued at about $30,721,000. Senator Investment Group LP bought a new stake in ArcelorMittal in the fourth quarter valued at about $26,431,000. Finally, Man Group plc acquired a new stake in ArcelorMittal during the third quarter valued at approximately $11,720,000. Institutional investors own 9.29% of the company's stock.

ArcelorMittal Company Profile

ArcelorMittal is a multinational steel manufacturing company formed in 2006 through the merger of Arcelor and Mittal Steel. Headquartered in Luxembourg, the company is one of the world's largest producers of steel and operates an integrated value chain that spans raw material extraction, steelmaking, processing and distribution. Its product portfolio includes flat and long carbon steel products, coated and specialty steels, tubular products and value-added solutions tailored for sectors such as automotive, construction, household appliances, energy and packaging.

ArcelorMittal's operations are global in scope, with production facilities, distribution networks and commercial activities across Europe, the Americas, Asia, Africa and the Commonwealth of Independent States.

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