Weiss Ratings Reiterates "Hold (C)" Rating for ArcelorMittal (NYSE:MT)

Key Points

• Weiss Ratings has reaffirmed a "Hold (C)" rating for ArcelorMittal (NYSE:MT), while Citigroup has issued a "buy" rating and Wells Fargo raised its target price to $39.00.
• ArcelorMittal shares traded up 0.7% to $39.16, with a market capitalization of $32.09 billion and a PE ratio of 12.09.
• Analysts expect ArcelorMittal to report an earnings per share of 3.72 for the current fiscal year, despite a recent quarterly earnings miss.

ArcelorMittal (NYSE:MT - Get Free Report)'s stock had its "hold (c)" rating reaffirmed by equities researchers at Weiss Ratings in a note issued to investors on Friday,Weiss Ratings reports.

A number of other equities research analysts have also issued reports on the stock. Citigroup reiterated a "buy" rating on shares of ArcelorMittal in a report on Wednesday, October 8th. Wells Fargo & Company reiterated a "cautious" rating and set a $39.00 target price (up from $33.00) on shares of ArcelorMittal in a report on Thursday. The Goldman Sachs Group reiterated a "neutral" rating on shares of ArcelorMittal in a report on Friday, October 10th. Barclays lowered shares of ArcelorMittal from an "overweight" rating to an "equal weight" rating in a report on Wednesday, July 16th. Finally, Wall Street Zen lowered shares of ArcelorMittal from a "buy" rating to a "hold" rating in a report on Saturday, October 11th. Three equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $34.95.

ArcelorMittal Trading Up 0.7%

Shares of MT stock traded up $0.26 during trading hours on Friday, hitting $39.16. The company had a trading volume of 682,045 shares, compared to its average volume of 1,864,187. The company's fifty day moving average is $35.85 and its 200 day moving average is $32.53. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.40 and a quick ratio of 0.59. ArcelorMittal has a fifty-two week low of $21.59 and a fifty-two week high of $41.28. The stock has a market capitalization of $32.09 billion, a PE ratio of 12.09, a price-to-earnings-growth ratio of 0.17 and a beta of 1.69.

ArcelorMittal (NYSE:MT - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The basic materials company reported $1.32 EPS for the quarter, missing the consensus estimate of $1.33 by ($0.01). ArcelorMittal had a return on equity of 4.99% and a net margin of 4.11%.The company had revenue of $15.93 billion during the quarter, compared to analyst estimates of $15.48 billion. During the same quarter in the prior year, the company posted $0.63 earnings per share. The business's revenue was down 2.0% compared to the same quarter last year. Research analysts expect that ArcelorMittal will post 3.72 earnings per share for the current fiscal year.

Institutional Trading of ArcelorMittal

Several hedge funds have recently made changes to their positions in the company. Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of ArcelorMittal by 22.0% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,872,477 shares of the basic materials company's stock worth $54,021,000 after acquiring an additional 337,158 shares during the period. OLD Mission Capital LLC lifted its stake in shares of ArcelorMittal by 20.1% in the 1st quarter. OLD Mission Capital LLC now owns 814,793 shares of the basic materials company's stock worth $23,507,000 after acquiring an additional 136,443 shares during the period. ABC Arbitrage SA lifted its stake in shares of ArcelorMittal by 31.0% in the 1st quarter. ABC Arbitrage SA now owns 560,329 shares of the basic materials company's stock worth $16,165,000 after acquiring an additional 132,535 shares during the period. Telemark Asset Management LLC acquired a new stake in shares of ArcelorMittal in the first quarter valued at about $11,540,000. Finally, American Century Companies Inc. lifted its stake in shares of ArcelorMittal by 39.1% in the second quarter. American Century Companies Inc. now owns 392,644 shares of the basic materials company's stock valued at $12,400,000 after purchasing an additional 110,420 shares during the period. Institutional investors and hedge funds own 9.29% of the company's stock.

About ArcelorMittal

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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