ArcelorMittal (NYSE:MT) Receives New Coverage from Analysts at The Goldman Sachs Group

Equities researchers at The Goldman Sachs Group started coverage on shares of ArcelorMittal (NYSE:MT) in a report released on Thursday, Briefing.com reports. The firm set a “neutral” rating on the basic materials company’s stock.

Several other research firms have also recently weighed in on MT. StockNews.com cut ArcelorMittal from a “buy” rating to a “hold” rating in a report on Monday, March 4th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $31.00 target price (down from $34.00) on shares of ArcelorMittal in a research note on Tuesday, April 16th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $31.00.

ArcelorMittal Price Performance

ArcelorMittal stock opened at $25.38 on Thursday. The firm has a market capitalization of $20.44 billion, a P/E ratio of 28.52, a PEG ratio of 0.42 and a beta of 1.93. The business has a 50-day moving average of $26.40 and a 200-day moving average of $26.10. The company has a current ratio of 1.55, a quick ratio of 0.65 and a debt-to-equity ratio of 0.15. ArcelorMittal has a 1 year low of $21.30 and a 1 year high of $29.15.

ArcelorMittal (NYSE:MT) last issued its quarterly earnings data on Thursday, May 2nd. The basic materials company reported $1.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.93 by $0.23. The firm had revenue of $16.28 billion during the quarter, compared to analysts’ expectations of $16.67 billion. ArcelorMittal had a net margin of 1.15% and a return on equity of 8.29%. The business’s revenue for the quarter was down 12.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.27 earnings per share. On average, equities analysts anticipate that ArcelorMittal will post 3.91 EPS for the current year.

Institutional Trading of ArcelorMittal

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Assetmark Inc. grew its position in shares of ArcelorMittal by 8.5% in the 3rd quarter. Assetmark Inc. now owns 66,620 shares of the basic materials company’s stock valued at $1,667,000 after acquiring an additional 5,203 shares during the period. Todd Asset Management LLC lifted its position in shares of ArcelorMittal by 9.0% in the third quarter. Todd Asset Management LLC now owns 108,800 shares of the basic materials company’s stock valued at $2,723,000 after buying an additional 9,000 shares during the last quarter. Signaturefd LLC boosted its stake in shares of ArcelorMittal by 8.1% during the 3rd quarter. Signaturefd LLC now owns 22,134 shares of the basic materials company’s stock worth $554,000 after acquiring an additional 1,662 shares during the period. Syon Capital LLC acquired a new position in shares of ArcelorMittal during the 3rd quarter worth approximately $202,000. Finally, Capital Wealth Planning LLC raised its stake in ArcelorMittal by 96.9% in the 3rd quarter. Capital Wealth Planning LLC now owns 35,973 shares of the basic materials company’s stock valued at $900,000 after acquiring an additional 17,701 shares during the period. Institutional investors own 9.88% 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.