ArcelorMittal’s (MT) Hold Rating Reaffirmed at Deutsche Bank Aktiengesellschaft

ArcelorMittal (NYSE:MT)‘s stock had its “hold” rating reiterated by equities research analysts at Deutsche Bank Aktiengesellschaft in a report issued on Tuesday, MarketBeat Ratings reports. They currently have a $31.00 price target on the basic materials company’s stock, down from their prior price target of $34.00. Deutsche Bank Aktiengesellschaft’s target price would indicate a potential upside of 15.03% from the company’s previous close.

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

ArcelorMittal Stock Performance

Shares of MT opened at $26.95 on Tuesday. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.53 and a quick ratio of 0.67. ArcelorMittal has a one year low of $21.30 and a one year high of $30.15. The company has a 50-day simple moving average of $26.94 and a two-hundred day simple moving average of $25.89. The firm has a market capitalization of $21.70 billion, a PE ratio of 26.95, a price-to-earnings-growth ratio of 0.34 and a beta of 1.93.

ArcelorMittal (NYSE:MT) last issued its quarterly earnings data on Thursday, February 8th. The basic materials company reported ($3.57) EPS for the quarter, missing the consensus estimate of ($2.08) by ($1.49). ArcelorMittal had a return on equity of 8.55% and a net margin of 1.35%. The company had revenue of $14.55 billion during the quarter, compared to analysts’ expectations of $16.39 billion. During the same quarter last year, the business earned $1.37 earnings per share. The business’s quarterly revenue was down 13.8% on a year-over-year basis. On average, analysts anticipate that ArcelorMittal will post 4.37 EPS for the current fiscal year.

Hedge Funds Weigh In On ArcelorMittal

Several large investors have recently made changes to their positions in MT. Raymond James & Associates raised its holdings in ArcelorMittal by 36.5% in the 1st quarter. Raymond James & Associates now owns 77,799 shares of the basic materials company’s stock worth $2,490,000 after acquiring an additional 20,821 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of ArcelorMittal by 15.0% during the first quarter. Bank of New York Mellon Corp now owns 17,618 shares of the basic materials company’s stock valued at $564,000 after purchasing an additional 2,294 shares in the last quarter. American Century Companies Inc. lifted its holdings in shares of ArcelorMittal by 11.3% during the first quarter. American Century Companies Inc. now owns 79,895 shares of the basic materials company’s stock valued at $2,557,000 after purchasing an additional 8,085 shares in the last quarter. US Bancorp DE lifted its holdings in shares of ArcelorMittal by 75.4% during the first quarter. US Bancorp DE now owns 23,765 shares of the basic materials company’s stock valued at $760,000 after purchasing an additional 10,217 shares in the last quarter. Finally, PNC Financial Services Group Inc. lifted its holdings in shares of ArcelorMittal by 10.7% during the first quarter. PNC Financial Services Group Inc. now owns 7,874 shares of the basic materials company’s stock valued at $252,000 after purchasing an additional 758 shares in the last quarter. 9.88% of the stock is currently owned by hedge funds and other institutional investors.

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.