ArcelorMittal (NYSE:MT) was downgraded by investment analysts at ValuEngine from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Thursday.

Other research analysts have also recently issued research reports about the stock. BidaskClub cut shares of ArcelorMittal from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 25th. Jefferies Group LLC reiterated a “buy” rating and set a $34.00 price target (up previously from $31.50) on shares of ArcelorMittal in a research note on Tuesday, July 18th. ING Group upgraded shares of ArcelorMittal from a “hold” rating to a “buy” rating in a research note on Friday, July 14th. Deutsche Bank AG upgraded shares of ArcelorMittal from a “hold” rating to a “buy” rating and increased their price target for the stock from $25.00 to $32.00 in a research note on Wednesday, July 12th. Finally, Cowen and Company reiterated a “buy” rating and set a $32.00 price target on shares of ArcelorMittal in a research note on Wednesday, July 19th. One research analyst has rated the stock with a sell rating, three have given a hold rating and thirteen have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $32.72.

Shares of ArcelorMittal (NYSE:MT) traded up $0.99 during trading on Thursday, hitting $29.14. 7,522,700 shares of the stock traded hands, compared to its average volume of 4,543,840. ArcelorMittal has a fifty-two week low of $19.59 and a fifty-two week high of $30.50. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.42 and a current ratio of 1.23. The firm has a market cap of $29,682.24, a PE ratio of 7.32 and a beta of 2.19.

ArcelorMittal (NYSE:MT) last issued its earnings results on Friday, November 10th. The basic materials company reported $1.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.86 by $0.32. ArcelorMittal had a net margin of 5.50% and a return on equity of 10.52%. The business had revenue of $17.64 billion during the quarter, compared to analysts’ expectations of $17.08 billion. During the same quarter in the prior year, the business posted $0.22 EPS. The company’s revenue for the quarter was up 21.5% on a year-over-year basis. analysts expect that ArcelorMittal will post 3.3 earnings per share for the current year.

COPYRIGHT VIOLATION WARNING: This news story was originally published by Watch List News and is owned by of Watch List News. If you are viewing this news story on another website, it was illegally stolen and republished in violation of United States & international trademark and copyright law. The legal version of this news story can be viewed at https://www.watchlistnews.com/arcelormittal-mt-stock-rating-lowered-by-valuengine/1698770.html.

Institutional investors and hedge funds have recently made changes to their positions in the company. Morgan Stanley increased its holdings in shares of ArcelorMittal by 55.5% in the 1st quarter. Morgan Stanley now owns 2,270,841 shares of the basic materials company’s stock valued at $18,961,000 after purchasing an additional 810,291 shares in the last quarter. Cetera Investment Advisers purchased a new position in shares of ArcelorMittal in the 2nd quarter valued at about $2,165,000. Exane Derivatives increased its holdings in shares of ArcelorMittal by 67.2% in the 2nd quarter. Exane Derivatives now owns 219,590 shares of the basic materials company’s stock valued at $4,991,000 after purchasing an additional 88,276 shares in the last quarter. Ameriprise Financial Inc. increased its holdings in shares of ArcelorMittal by 0.5% in the 1st quarter. Ameriprise Financial Inc. now owns 53,502 shares of the basic materials company’s stock valued at $447,000 after purchasing an additional 285 shares in the last quarter. Finally, FMR LLC increased its holdings in shares of ArcelorMittal by 2.3% in the 1st quarter. FMR LLC now owns 2,937,110 shares of the basic materials company’s stock valued at $24,525,000 after purchasing an additional 67,100 shares in the last quarter. Institutional investors and hedge funds own 3.60% of the company’s stock.

About ArcelorMittal

ArcelorMittal SA (ArcelorMittal) is a holding company. The Company, together with its subsidiaries, owns and operates steel manufacturing and mining facilities in Europe, North and South America, Asia and Africa. ArcelorMittal operates through five segments, which include NAFTA; Europe; Brazil; Africa and Commonwealth of Independent States (ACIS), and Mining.

Analyst Recommendations for ArcelorMittal (NYSE:MT)

Receive News & Ratings for ArcelorMittal Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ArcelorMittal and related companies with Analyst Ratings Network's FREE daily email newsletter.