ArcelorMittal (MT) Downgraded to C+ at TheStreet

TheStreet lowered shares of ArcelorMittal (NYSE:MT) from a b- rating to a c+ rating in a research note published on Tuesday morning, TheStreetRatingsTable reports.

Several other research analysts have also issued reports on MT. Goldman Sachs Group lowered shares of ArcelorMittal from a buy rating to a neutral rating in a research report on Wednesday, January 30th. ValuEngine upgraded shares of ArcelorMittal from a strong sell rating to a sell rating in a research report on Friday, March 1st. Zacks Investment Research upgraded shares of ArcelorMittal from a strong sell rating to a hold rating in a research report on Tuesday, March 12th. Finally, KeyCorp started coverage on shares of ArcelorMittal in a research report on Monday, April 15th. They issued a sector weight rating and a $22.57 price target on the stock. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company’s stock. ArcelorMittal has an average rating of Hold and a consensus target price of $26.79.

NYSE MT opened at $16.32 on Tuesday. ArcelorMittal has a 12 month low of $15.91 and a 12 month high of $35.13. The company has a current ratio of 1.40, a quick ratio of 0.52 and a debt-to-equity ratio of 0.24. The company has a market cap of $17.02 billion, a P/E ratio of 2.83, a P/E/G ratio of 3.75 and a beta of 2.06.

ArcelorMittal (NYSE:MT) last posted its quarterly earnings data on Thursday, May 9th. The basic materials company reported $0.53 EPS for the quarter, missing the Zacks’ consensus estimate of $0.88 by ($0.35). The company had revenue of $19.19 billion for the quarter, compared to analyst estimates of $18.83 billion. ArcelorMittal had a net margin of 5.75% and a return on equity of 11.63%. Sell-side analysts predict that ArcelorMittal will post 2.42 EPS for the current fiscal year.

The company also recently disclosed an annual dividend, which will be paid on Thursday, June 13th. Shareholders of record on Friday, May 17th will be given a dividend of $0.20 per share. This represents a yield of 0.92%. The ex-dividend date of this dividend is Thursday, May 16th. ArcelorMittal’s payout ratio is 2.95%.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Mercer Global Advisors Inc. ADV purchased a new position in ArcelorMittal during the 1st quarter worth approximately $254,000. Investors Research Corp purchased a new position in ArcelorMittal during the 1st quarter worth approximately $166,000. Janney Montgomery Scott LLC grew its position in ArcelorMittal by 1.9% during the 4th quarter. Janney Montgomery Scott LLC now owns 49,085 shares of the basic materials company’s stock worth $1,015,000 after purchasing an additional 931 shares in the last quarter. JPMorgan Chase & Co. grew its position in ArcelorMittal by 77.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 891,090 shares of the basic materials company’s stock worth $27,498,000 after purchasing an additional 388,896 shares in the last quarter. Finally, ETRADE Capital Management LLC grew its position in ArcelorMittal by 2.8% during the 4th quarter. ETRADE Capital Management LLC now owns 63,491 shares of the basic materials company’s stock worth $1,312,000 after purchasing an additional 1,744 shares in the last quarter. Hedge funds and other institutional investors own 3.13% of the company’s stock.

ArcelorMittal Company Profile

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.

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Analyst Recommendations for ArcelorMittal (NYSE:MT)

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