ArcelorMittal SA’s (MT) “Buy” Rating Reaffirmed at Jefferies Group
Several other brokerages have also weighed in on MT. Cowen and Company increased their target price on ArcelorMittal SA from $6.00 to $8.00 and gave the stock a market perform rating in a research report on Wednesday, August 3rd. Citigroup Inc. reissued a buy rating on shares of ArcelorMittal SA in a research note on Thursday, July 28th. Vetr raised ArcelorMittal SA from a buy rating to a strong-buy rating and set a $5.70 price target 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, Zacks Investment Research cut ArcelorMittal SA from a strong-buy rating to a hold rating in a research note on Tuesday, September 20th. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of Hold and an average target price of $5.40.
Shares of ArcelorMittal SA (NYSE:MT) traded up 1.49% on Friday, reaching $6.13. 5,433,557 shares of the company traded hands. ArcelorMittal SA has a 52-week low of $2.93 and a 52-week high of $6.94. The firm has a 50-day moving average of $6.03 and a 200-day moving average of $5.39. The company’s market capitalization is $18.74 billion.
ArcelorMittal SA (NYSE:MT) last issued its earnings results on Friday, July 29th. The company reported $0.38 earnings per share for the quarter, topping 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 had revenue of $14.74 billion for the quarter, compared to analyst estimates of $15.23 billion. During the same period last year, the company earned $0.10 earnings per share. The firm’s revenue for the quarter was down 12.7% on a year-over-year basis. On average, equities research analysts forecast that ArcelorMittal SA will post ($0.05) earnings per share for the current fiscal year.
Several hedge funds and other institutional investors have recently modified their holdings of MT. Fifth Third Bancorp raised its position in shares of ArcelorMittal SA by 70.0% in the second quarter. Fifth Third Bancorp now owns 21,760 shares of the company’s stock worth $101,000 after buying an additional 8,960 shares in the last quarter. Reynolds Capital Management LLC bought a new position in shares of ArcelorMittal SA during the first quarter worth approximately $106,000. Rhumbline Advisers raised its position in shares of ArcelorMittal SA by 45.1% in the second quarter. Rhumbline Advisers now owns 22,952 shares of the company’s stock worth $107,000 after buying an additional 7,133 shares in the last quarter. Cypress Wealth Advisors LLC raised 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. Finally, Baird Financial Group Inc. raised 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. 3.88% of the stock is currently owned by institutional investors and hedge funds.
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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