ArcelorMittal SA (NYSE:MT) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a report released on Tuesday.

According to Zacks, “Estimates for ArcelorMittal have been stable of late. ArcelorMittal remains highly focused on reducing debt, lowering costs and improving efficiency. Moreover, it is looking to sell its non-core assets and increase focus on important operations. However, ArcelorMittal continues to contend with soft economic conditions in Europe and China, volatility in steel prices and tough competition. Moreover, China, which has built up a massive excess steel capacity, still remains a concern.”

Other analysts have also recently issued reports about the company. Vetr cut ArcelorMittal SA from a “strong-buy” rating to a “buy” rating and set a $5.66 price target for the company. in a report on Monday, June 20th. Citigroup Inc. raised ArcelorMittal SA from a “neutral” rating to a “buy” rating and raised their price target for the company from $5.00 to $5.40 in a report on Wednesday, June 1st. Berenberg Bank reissued a “buy” rating on shares of ArcelorMittal SA in a report on Sunday, May 29th. Goldman Sachs Group Inc. cut ArcelorMittal SA from a “conviction-buy” rating to a “buy” rating in a report on Tuesday, June 28th. Finally, Jefferies Group reissued a “buy” rating on shares of ArcelorMittal SA in a report on Wednesday, August 3rd. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. ArcelorMittal SA currently has a consensus rating of “Hold” and an average target price of $5.28.

ArcelorMittal SA (NYSE:MT) opened at 5.75 on Tuesday. The firm’s market cap is $17.58 billion. ArcelorMittal SA has a 1-year low of $2.93 and a 1-year high of $6.94. The firm’s 50-day moving average price is $6.09 and its 200-day moving average price is $5.33.

ArcelorMittal SA (NYSE:MT) last posted its quarterly earnings results on Friday, July 29th. The company reported $0.38 EPS for the quarter, beating the consensus estimate of $0.03 by $0.35. The business earned $14.74 billion during the quarter, compared to analysts’ expectations of $15.23 billion. ArcelorMittal SA had a positive return on equity of 0.62% and a negative net margin of 11.61%. The company’s quarterly revenue was down 12.7% compared to the same quarter last year. During the same period last year, the firm earned $0.10 EPS. On average, equities research analysts anticipate that ArcelorMittal SA will post ($0.05) earnings per share for the current year.

Several hedge funds and other institutional investors have recently modified their holdings of the company. PNC Financial Services Group Inc. boosted its position in shares of ArcelorMittal SA by 0.3% in the second quarter. PNC Financial Services Group Inc. now owns 110,418 shares of the company’s stock worth $515,000 after buying an additional 288 shares in the last quarter. Cypress Wealth Advisors LLC boosted its position in shares of ArcelorMittal SA by 4.8% in the first quarter. Cypress Wealth Advisors LLC now owns 23,763 shares of the company’s stock worth $109,000 after buying an additional 1,089 shares in the last quarter. Baird Financial Group Inc. boosted its position in shares of ArcelorMittal SA by 7.9% in the second quarter. Baird Financial Group Inc. now owns 19,609 shares of the company’s stock worth $112,000 after buying an additional 1,440 shares in the last quarter. Wetherby Asset Management Inc. boosted its position in shares of ArcelorMittal SA by 5.6% in the second quarter. Wetherby Asset Management Inc. now owns 35,960 shares of the company’s stock worth $168,000 after buying an additional 1,907 shares in the last quarter. Finally, Comerica Bank boosted its position in shares of ArcelorMittal SA by 1.3% in the second quarter. Comerica Bank now owns 167,570 shares of the company’s stock worth $1,074,000 after buying an additional 2,220 shares in the last quarter. Institutional investors own 3.88% of the company’s stock.

ArcelorMittal SA Company Profile

ArcelorMittal SA (ArcelorMittal) is a holding company. The Company is an integrated steel and mining company. ArcelorMittal operates through five segments: NAFTA; Europe; Brazil; Africa and Commonwealth of Independent States (ACIS), and Mining. The NAFTA segment produces flat, long and tubular products.

5 Day Chart for NYSE:MT

Get a free copy of the Zacks research report on ArcelorMittal SA (MT)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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