ArcelorMittal SA (NYSE:MT) Given Consensus Rating of “Hold” by Analysts
Shares of ArcelorMittal SA (NYSE:MT) have been assigned an average recommendation of “Hold” from the twenty-five ratings firms that are covering the stock. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $5.13.
Several equities analysts have issued reports on MT shares. Cowen and Company lifted their price objective on ArcelorMittal SA from $6.00 to $8.00 and gave the company a “market perform” rating in a research report on Wednesday, August 3rd. Citigroup Inc. reiterated a “buy” rating on shares of ArcelorMittal SA in a research report on Thursday, July 28th. Vetr raised ArcelorMittal SA from a “buy” rating to a “strong-buy” rating and set a $5.70 target price for the company in a research note on Wednesday, June 22nd. Goldman Sachs Group Inc. cut ArcelorMittal SA from a “conviction-buy” rating to a “buy” rating in a research note on Tuesday, June 28th. Finally, Jefferies Group reissued a “buy” rating on shares of ArcelorMittal SA in a research note on Wednesday, August 3rd.
A number of hedge funds have recently added to or reduced their stakes in MT. Fifth Third Bancorp raised its stake in ArcelorMittal SA by 70.0% in the second quarter. Fifth Third Bancorp now owns 21,760 shares of the company’s stock valued at $101,000 after buying an additional 8,960 shares during the last quarter. Reynolds Capital Management LLC bought a new stake in ArcelorMittal SA during the first quarter valued at about $106,000. Rhumbline Advisers raised its stake in ArcelorMittal SA by 45.1% in the second quarter. Rhumbline Advisers now owns 22,952 shares of the company’s stock valued at $107,000 after buying an additional 7,133 shares during the last quarter. Cypress Wealth Advisors LLC raised its stake in ArcelorMittal SA by 4.8% in the first quarter. Cypress Wealth Advisors LLC now owns 23,763 shares of the company’s stock valued at $109,000 after buying an additional 1,089 shares during the last quarter. Finally, Baird Financial Group Inc. raised its stake in ArcelorMittal SA by 7.9% in the second quarter. Baird Financial Group Inc. now owns 19,609 shares of the company’s stock valued at $112,000 after buying an additional 1,440 shares during the last quarter. Institutional investors and hedge funds own 3.88% of the company’s stock.
Shares of ArcelorMittal SA (NYSE:MT) traded up 2.65% during trading on Wednesday, hitting $6.19. The company’s stock had a trading volume of 12,827,831 shares. 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 is $6.05 and its 200-day moving average is $5.36. The company’s market capitalization is $18.93 billion.
ArcelorMittal SA (NYSE:MT) last issued its quarterly earnings data on Friday, July 29th. The company reported $0.38 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.03 by $0.35. ArcelorMittal SA had a positive return on equity of 0.62% and a negative net margin of 11.61%. The firm earned $14.74 billion during the quarter, compared to the consensus estimate of $15.23 billion. During the same quarter in the previous year, the company posted $0.10 EPS. The business’s revenue for the quarter was down 12.7% compared to the same quarter last year. Analysts forecast that ArcelorMittal SA will post ($0.05) EPS for the current fiscal year.
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.
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