ArcelorMittal (NYSE:MT) Rating Reiterated by Deutsche Bank Aktiengesellschaft

ArcelorMittal (NYSE:MT)‘s stock had its “hold” rating reaffirmed by equities researchers at Deutsche Bank Aktiengesellschaft in a research report issued on Tuesday, Marketbeat.com reports. They currently have a $31.00 target price on the basic materials company’s stock, down from their previous target price of $34.00. Deutsche Bank Aktiengesellschaft’s price target suggests a potential upside of 23.46% from the company’s previous close.

Separately, StockNews.com lowered ArcelorMittal from a “buy” rating to a “hold” rating in a research report on Monday, March 4th.

ArcelorMittal Stock Performance

MT stock opened at $25.11 on Tuesday. The company has a current ratio of 1.53, a quick ratio of 0.67 and a debt-to-equity ratio of 0.15. The firm has a market cap of $20.22 billion, a P/E ratio of 25.11, a P/E/G ratio of 0.34 and a beta of 1.93. ArcelorMittal has a 12-month low of $21.30 and a 12-month high of $30.15. The stock’s 50 day simple moving average is $26.85 and its 200 day simple moving average is $25.88.

ArcelorMittal (NYSE:MT) last posted its quarterly earnings results on Thursday, February 8th. The basic materials company reported ($3.57) earnings per share (EPS) for the quarter, missing the consensus estimate of ($2.08) by ($1.49). The firm had revenue of $14.55 billion for the quarter, compared to analyst estimates of $16.39 billion. ArcelorMittal had a net margin of 1.35% and a return on equity of 8.55%. The business’s revenue was down 13.8% on a year-over-year basis. During the same period in the prior year, the company posted $1.37 earnings per share. As a group, equities research analysts predict that ArcelorMittal will post 4.37 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in MT. Principal Securities Inc. bought a new position in ArcelorMittal during the 4th quarter worth $25,000. Tower Research Capital LLC TRC bought a new position in shares of ArcelorMittal in the third quarter worth $28,000. GAMMA Investing LLC bought a new position in shares of ArcelorMittal in the fourth quarter worth $30,000. EverSource Wealth Advisors LLC grew its stake in shares of ArcelorMittal by 84.6% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,128 shares of the basic materials company’s stock worth $32,000 after purchasing an additional 517 shares in the last quarter. Finally, Blue Trust Inc. grew its stake in shares of ArcelorMittal by 336.3% in the fourth quarter. Blue Trust Inc. now owns 1,309 shares of the basic materials company’s stock worth $37,000 after purchasing an additional 1,009 shares in the last quarter. 9.88% of the stock is currently owned by institutional investors.

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.