ArcelorMittal (NYSE:MT) Shares Gap Down to $26.95

ArcelorMittal S.A. (NYSE:MT)’s share price gapped down before the market opened on Tuesday . The stock had previously closed at $26.95, but opened at $25.35. ArcelorMittal shares last traded at $25.21, with a volume of 976,179 shares traded.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on MT. StockNews.com cut shares of ArcelorMittal from a “buy” rating to a “hold” rating in a research report on Monday, March 4th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $31.00 price objective (down from $34.00) on shares of ArcelorMittal in a research report on Tuesday.

ArcelorMittal Trading Down 6.5 %

The company has a debt-to-equity ratio of 0.15, a current ratio of 1.53 and a quick ratio of 0.67. The company has a market cap of $20.30 billion, a PE ratio of 25.11, a price-to-earnings-growth ratio of 0.34 and a beta of 1.93. The company’s 50 day simple moving average is $26.94 and its two-hundred day simple moving average is $25.89.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in MT. Wetherby Asset Management Inc. lifted its stake in ArcelorMittal by 3.7% in the first quarter. Wetherby Asset Management Inc. now owns 11,474 shares of the basic materials company’s stock worth $367,000 after acquiring an additional 411 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in ArcelorMittal by 84.6% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,128 shares of the basic materials company’s stock worth $32,000 after acquiring an additional 517 shares during the last quarter. Creative Planning lifted its stake in ArcelorMittal by 6.3% in the second quarter. Creative Planning now owns 9,063 shares of the basic materials company’s stock worth $205,000 after acquiring an additional 540 shares during the last quarter. Advisor Partners II LLC lifted its stake in ArcelorMittal by 4.9% in the first quarter. Advisor Partners II LLC now owns 14,686 shares of the basic materials company’s stock worth $442,000 after acquiring an additional 681 shares during the last quarter. Finally, PNC Financial Services Group Inc. lifted its stake in ArcelorMittal by 10.7% in the first quarter. PNC Financial Services Group Inc. now owns 7,874 shares of the basic materials company’s stock worth $252,000 after acquiring an additional 758 shares during the last quarter. Hedge funds and other institutional investors own 9.88% of the company’s stock.

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.