ArcelorMittal (NYSE:MT) Sets New 1-Year Low After Earnings Miss

ArcelorMittal S.A. (NYSE:MT)’s share price reached a new 52-week low during trading on Thursday after the company announced weaker than expected quarterly earnings. The company traded as low as $21.24 and last traded at $21.26, with a volume of 2057954 shares. The stock had previously closed at $22.86.

The basic materials company reported $0.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.12 by ($0.49). ArcelorMittal had a negative net margin of 0.93% and a positive return on equity of 5.94%. The business had revenue of $16.25 billion during the quarter, compared to analyst estimates of $16.32 billion. During the same period in the previous year, the business earned $2.20 earnings per share. The business’s quarterly revenue was down 12.7% on a year-over-year basis.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on MT. Deutsche Bank Aktiengesellschaft decreased their price target on shares of ArcelorMittal from $30.00 to $29.00 and set a “hold” rating on the stock in a research note on Friday. The Goldman Sachs Group began coverage on ArcelorMittal in a research note on Thursday, May 9th. They set a “neutral” rating and a $29.60 target price on the stock. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $29.30.

Institutional Trading of ArcelorMittal

Large investors have recently made changes to their positions in the company. Blue Trust Inc. lifted its holdings 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 acquiring an additional 1,009 shares during the last quarter. International Assets Investment Management LLC acquired a new stake in ArcelorMittal in the fourth quarter valued at approximately $5,160,000. Cerity Partners LLC grew its stake in shares of ArcelorMittal by 21.2% during the fourth quarter. Cerity Partners LLC now owns 13,936 shares of the basic materials company’s stock worth $396,000 after buying an additional 2,440 shares during the last quarter. Knights of Columbus Asset Advisors LLC increased its holdings in shares of ArcelorMittal by 14.7% during the fourth quarter. Knights of Columbus Asset Advisors LLC now owns 8,334 shares of the basic materials company’s stock worth $237,000 after buying an additional 1,065 shares in the last quarter. Finally, Signaturefd LLC lifted its stake in shares of ArcelorMittal by 16.0% in the 4th quarter. Signaturefd LLC now owns 25,684 shares of the basic materials company’s stock valued at $729,000 after acquiring an additional 3,550 shares during the last quarter. Institutional investors and hedge funds own 9.88% of the company’s stock.

ArcelorMittal Stock Performance

The company has a market cap of $16.99 billion, a price-to-earnings ratio of 23.71, a P/E/G ratio of 0.34 and a beta of 1.77. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.65 and a current ratio of 1.55. The company has a fifty day moving average of $23.71 and a two-hundred day moving average of $25.59.

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.