ArcelorMittal (NYSE:MT) Rating Lowered to Hold at Wall Street Zen

Key Points

• ArcelorMittal's stock rating has been downgraded from "buy" to "hold" by Wall Street Zen, reflecting changing analyst sentiment.
• The company's recent earnings report showed a miss on EPS estimates, with $1.32 reported versus a consensus of $1.33.
• Despite challenges, ArcelorMittal maintains a consensus target price of $33.45 and is currently trading down 6.0%.

ArcelorMittal (NYSE:MT - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research report issued on Saturday.

Other analysts have also issued research reports about the company. Wells Fargo & Company raised ArcelorMittal to a "hold" rating in a research note on Thursday, August 14th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of ArcelorMittal in a research note on Wednesday. The Goldman Sachs Group reaffirmed a "neutral" rating on shares of ArcelorMittal in a research note on Friday. Citigroup reissued a "buy" rating on shares of ArcelorMittal in a research note on Wednesday. Finally, Barclays lowered ArcelorMittal from an "overweight" rating to an "equal weight" rating in a research note on Wednesday, July 16th. Three research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $33.45.

ArcelorMittal Trading Down 6.0%

Shares of MT stock opened at $37.16 on Friday. ArcelorMittal has a fifty-two week low of $21.59 and a fifty-two week high of $41.28. The stock has a market cap of $30.44 billion, a P/E ratio of 11.47, a P/E/G ratio of 0.17 and a beta of 1.69. The business has a fifty day simple moving average of $34.78 and a 200-day simple moving average of $31.88. 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 (NYSE:MT - Get Free Report) last announced 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). ArcelorMittal had a net margin of 4.11% and a return on equity of 4.99%. The firm had revenue of $15.93 billion during the quarter, compared to analysts' expectations of $15.48 billion. During the same quarter in the prior year, the business earned $0.63 EPS. The company's quarterly revenue was down 2.0% compared to the same quarter last year. On average, analysts forecast that ArcelorMittal will post 3.72 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. SVB Wealth LLC acquired a new position in ArcelorMittal during the 1st quarter worth $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 worth $47,000 after buying an additional 501 shares in the last quarter. 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 worth $51,000 after buying an additional 360 shares in the last quarter. GAMMA Investing LLC raised 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 in the last quarter. Finally, Bayforest Capital Ltd raised its stake 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 worth $62,000 after buying an additional 440 shares in the last quarter. Institutional investors and hedge funds 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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