ArcelorMittal SA (NYSE:MT) was downgraded by research analysts at ValuEngine from a “buy” rating to a “hold” rating in a report released on Tuesday.

Other research analysts have also recently issued reports about the stock. TheStreet upgraded shares of ArcelorMittal SA from a “c” rating to a “b-” rating in a report on Monday, May 15th. Cowen and Company restated a “buy” rating and issued a $11.00 price target on shares of ArcelorMittal SA in a report on Friday. Credit Suisse Group AG set a $45.00 price target on shares of ArcelorMittal SA and gave the stock a “buy” rating in a report on Saturday, March 25th. Zacks Investment Research upgraded shares of ArcelorMittal SA from a “hold” rating to a “buy” rating and set a $30.00 price target on the stock in a report on Wednesday, March 22nd. Finally, Goldman Sachs Group Inc restated a “buy” rating on shares of ArcelorMittal SA in a report on Friday, February 17th. One analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. ArcelorMittal SA presently has an average rating of “Buy” and a consensus target price of $25.31.

Analyst Recommendations for ArcelorMittal SA (NYSE:MT)

ArcelorMittal SA (NYSE:MT) traded up 1.212% during midday trading on Tuesday, hitting $22.965. 9,609,912 shares of the stock traded hands. ArcelorMittal SA has a 52-week low of $12.54 and a 52-week high of $28.11. The firm’s 50-day moving average is $23.21 and its 200-day moving average is $23.97. The company has a market cap of $23.42 billion, a price-to-earnings ratio of 7.614 and a beta of 2.06.

ArcelorMittal SA (NYSE:MT) last posted its quarterly earnings results on Friday, May 12th. The basic materials company reported $0.99 EPS for the quarter, topping the Zacks’ consensus estimate of $0.81 by $0.18. The firm had revenue of $16.09 billion for the quarter, compared to analysts’ expectations of $16.81 billion. ArcelorMittal SA had a net margin of 3.13% and a return on equity of 6.88%. The business’s revenue for the quarter was up 20.1% on a year-over-year basis. During the same period in the prior year, the business posted ($0.69) earnings per share. Analysts predict that ArcelorMittal SA will post $0.98 EPS for the current year.

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Hedge funds have recently added to or reduced their stakes in the stock. FNY Partners Fund LP increased its position in ArcelorMittal SA by 32.8% in the first quarter. FNY Partners Fund LP now owns 33,209 shares of the basic materials company’s stock valued at $277,000 after buying an additional 8,209 shares during the period. Credit Suisse AG increased its position in ArcelorMittal SA by 2,724.4% in the first quarter. Credit Suisse AG now owns 4,540,212 shares of the basic materials company’s stock valued at $37,910,000 after buying an additional 4,379,463 shares during the period. Barings LLC increased its position in ArcelorMittal SA by 203.6% in the first quarter. Barings LLC now owns 244,700 shares of the basic materials company’s stock valued at $2,043,000 after buying an additional 164,100 shares during the period. Jane Street Group LLC increased its position in ArcelorMittal SA by 775.6% in the first quarter. Jane Street Group LLC now owns 2,127,765 shares of the basic materials company’s stock valued at $17,767,000 after buying an additional 1,884,765 shares during the period. Finally, Nomura Holdings Inc. bought a new position in ArcelorMittal SA during the first quarter valued at about $244,000. 3.46% of the stock is owned by institutional investors and hedge funds.

ArcelorMittal SA Company Profile

ArcelorMittal SA (ArcelorMittal) is a holding company. The Company, together with its subsidiaries, owns and operates steel manufacturing and mining facilities in Europe, North and South America, Asia and Africa. ArcelorMittal operates through five segments, which include NAFTA; Europe; Brazil; Africa and Commonwealth of Independent States (ACIS), and Mining.

12 Month Chart for NYSE:MT

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