ArcelorMittal (NYSE:MT) Receives Average Recommendation of "Hold" from Analysts

Key Points

• ArcelorMittal (NYSE:MT) has received an average rating of "Hold" from analysts, with six holding and three buying ratings among nine ratings firms.
• The company's most recent quarterly earnings report showed a miss in earnings per share at $1.32, slightly below the consensus estimate of $1.33, despite revenues of $15.93 billion exceeding expectations.
• Institutional investors currently own 9.29% of ArcelorMittal's stock, with several firms increasing their stakes significantly in the first quarter.

Shares of ArcelorMittal (NYSE:MT - Get Free Report) have been assigned an average rating of "Hold" from the nine ratings firms that are currently covering the firm, Marketbeat.com reports. Six analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $33.45.

Several research firms recently weighed in on MT. Wall Street Zen upgraded ArcelorMittal from a "hold" rating to a "buy" rating in a report on Friday. Wells Fargo & Company upgraded shares of ArcelorMittal to a "hold" rating in a research note on Thursday, August 14th. Barclays downgraded shares of ArcelorMittal from an "overweight" rating to an "equal weight" rating in a report on Wednesday, July 16th. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of ArcelorMittal in a report on Saturday, September 27th.

ArcelorMittal Trading Up 0.6%

Shares of NYSE:MT opened at $38.38 on Friday. The company has a current ratio of 1.40, a quick ratio of 0.59 and a debt-to-equity ratio of 0.19. The stock has a market capitalization of $31.44 billion, a PE ratio of 11.84, a P/E/G ratio of 0.17 and a beta of 1.69. ArcelorMittal has a 1 year low of $21.59 and a 1 year high of $38.83. The firm has a fifty day moving average price of $34.10 and a 200 day moving average price of $31.62.

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). The company had revenue of $15.93 billion during the quarter, compared to analyst estimates of $15.48 billion. ArcelorMittal had a return on equity of 4.99% and a net margin of 4.11%.ArcelorMittal's quarterly revenue was down 2.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.63 EPS. Analysts expect that ArcelorMittal will post 3.72 EPS for the current fiscal year.

Institutional Trading of ArcelorMittal

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. SVB Wealth LLC bought a new position in ArcelorMittal in the 1st quarter worth approximately $43,000. Geneos Wealth Management Inc. grew its stake in shares of ArcelorMittal by 44.2% in the first 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 during the last quarter. Hexagon Capital Partners LLC increased its position in ArcelorMittal by 25.4% during the first 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 during the period. GAMMA Investing LLC raised its stake in ArcelorMittal by 31.1% during the 1st quarter. GAMMA Investing LLC now owns 1,920 shares of the basic materials company's stock valued at $55,000 after purchasing an additional 456 shares during the last quarter. Finally, Bayforest Capital Ltd raised its stake in ArcelorMittal by 23.7% during the 1st 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 during 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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