ArcelorMittal (NYSE:MT) Stock Rating Upgraded by Wells Fargo & Company

Key Points

• ArcelorMittal was upgraded to a "hold" rating by Wells Fargo & Company, indicating a moderate outlook for the stock following several mixed ratings from other analysts.
• The stock has a consensus price target of $32.96 and has seen fluctuations with a 1-year low of $21.59 and a high of $34.90.
• In its most recent quarterly earnings report, ArcelorMittal reported earnings per share of $1.32, slightly missing analysts' expectations, while revenue was $15.93 billion, exceeding forecasts.

ArcelorMittal (NYSE:MT - Get Free Report) was upgraded by equities researchers at Wells Fargo & Company to a "hold" rating in a report released on Thursday,Zacks.com reports.

A number of other equities analysts have also weighed in on the stock. Barclays lowered shares of ArcelorMittal from an "overweight" rating to an "equal weight" rating in a research report on Wednesday, July 16th. Wall Street Zen lowered shares of ArcelorMittal from a "buy" rating to a "hold" rating in a research report on Sunday, July 20th. Three equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, ArcelorMittal currently has a consensus rating of "Hold" and an average price target of $32.96.

ArcelorMittal Stock Performance

MT stock traded down $0.5750 during midday trading on Thursday, reaching $33.9350. 548,649 shares of the company's stock traded hands, compared to its average volume of 2,021,418. ArcelorMittal has a 52-week low of $21.59 and a 52-week high of $35.13. The stock has a market cap of $27.80 billion, a P/E ratio of 10.47, a PEG ratio of 0.15 and a beta of 1.65. 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's 50-day moving average is $32.40 and its 200 day moving average is $30.39.

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. As a group, analysts anticipate that ArcelorMittal will post 3.72 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in MT. Wells Fargo & Company MN grew its holdings in ArcelorMittal by 61.2% during the 4th quarter. Wells Fargo & Company MN now owns 114,407 shares of the basic materials company's stock worth $2,646,000 after acquiring an additional 43,425 shares in the last quarter. Envestnet Asset Management Inc. grew its holdings in ArcelorMittal by 14.9% during the 4th quarter. Envestnet Asset Management Inc. now owns 348,819 shares of the basic materials company's stock worth $8,068,000 after acquiring an additional 45,255 shares in the last quarter. Russell Investments Group Ltd. grew its holdings in ArcelorMittal by 53.5% during the 4th quarter. Russell Investments Group Ltd. now owns 10,180 shares of the basic materials company's stock worth $235,000 after acquiring an additional 3,549 shares in the last quarter. Renaissance Technologies LLC grew its holdings in ArcelorMittal by 4.4% during the 4th quarter. Renaissance Technologies LLC now owns 67,400 shares of the basic materials company's stock worth $1,559,000 after acquiring an additional 2,829 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new position in ArcelorMittal during the 4th quarter worth about $2,777,000. 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.