UBS Group Reaffirms “Neutral” Rating for ArcelorMittal (NYSE:MT)

UBS Group reissued their neutral rating on shares of ArcelorMittal (NYSE:MT) in a research report released on Wednesday morning, Borsen Zeitung reports.

Several other research analysts have also recently commented on MT. Goldman Sachs Group upgraded shares of ArcelorMittal from a neutral rating to a buy rating in a report on Wednesday, June 12th. Deutsche Bank decreased their target price on shares of ArcelorMittal from $25.00 to $18.00 and set a buy rating for the company in a report on Monday, October 7th. Credit Suisse Group reiterated a buy rating on shares of ArcelorMittal in a report on Tuesday, September 10th. Finally, ValuEngine upgraded shares of ArcelorMittal from a strong sell rating to a sell rating in a report on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. The company currently has an average rating of Hold and an average target price of $21.14.

Shares of NYSE:MT traded up $0.76 during trading hours on Wednesday, hitting $14.76. 4,241,400 shares of the company’s stock traded hands, compared to its average volume of 3,905,834. ArcelorMittal has a 52 week low of $12.53 and a 52 week high of $28.89. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.52 and a current ratio of 1.41. The company’s fifty day simple moving average is $14.53 and its two-hundred day simple moving average is $17.00. The company has a market cap of $13.35 billion, a price-to-earnings ratio of 2.56 and a beta of 2.41.

ArcelorMittal (NYSE:MT) last announced its earnings results on Thursday, August 1st. The basic materials company reported $0.49 EPS for the quarter, hitting the consensus estimate of $0.49. ArcelorMittal had a net margin of 2.73% and a return on equity of 8.39%. The company had revenue of $19.28 billion during the quarter, compared to analysts’ expectations of $18.90 billion. During the same period last year, the company posted $1.83 earnings per share. The business’s revenue for the quarter was down 3.6% on a year-over-year basis. On average, analysts anticipate that ArcelorMittal will post 0.74 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently made changes to their positions in MT. First Trust Advisors LP lifted its position in shares of ArcelorMittal by 26.2% in the second quarter. First Trust Advisors LP now owns 30,915 shares of the basic materials company’s stock worth $557,000 after purchasing an additional 6,422 shares in the last quarter. SG Americas Securities LLC purchased a new stake in shares of ArcelorMittal in the second quarter worth approximately $1,013,000. Aperio Group LLC lifted its position in shares of ArcelorMittal by 22.1% in the second quarter. Aperio Group LLC now owns 395,224 shares of the basic materials company’s stock worth $7,126,000 after purchasing an additional 71,471 shares in the last quarter. Creative Planning lifted its position in shares of ArcelorMittal by 96.5% in the second quarter. Creative Planning now owns 23,100 shares of the basic materials company’s stock worth $416,000 after purchasing an additional 11,344 shares in the last quarter. Finally, Highline Capital Management L.P. purchased a new stake in shares of ArcelorMittal in the second quarter worth approximately $56,117,000. Institutional investors own 2.59% of the company’s stock.

About ArcelorMittal

ArcelorMittal, together with its subsidiaries, owns and operates steel manufacturing and mining facilities in Europe, North and South America, Asia, and Africa. It operates through five segments: NAFTA, Brazil, Europe, ACIS, and Mining. The company produces finished and semi-finished steel products with various specifications.

Further Reading: Overbought

Analyst Recommendations for ArcelorMittal (NYSE:MT)

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