ArcelorMittal SA (MT) Receives Buy Rating from Citigroup Inc.
MT has been the subject of a number of other research reports. Vetr raised shares of ArcelorMittal SA from a buy rating to a strong-buy rating and set a $6.78 price objective for the company in a research report on Tuesday, September 13th. Jefferies Group reissued a buy rating on shares of ArcelorMittal SA in a research report on Friday, September 30th. JPMorgan Chase & Co. raised shares of ArcelorMittal SA from an underweight rating to a neutral rating and boosted their price objective for the company from $2.93 to $6.55 in a research report on Friday, August 19th. Zacks Investment Research lowered shares of ArcelorMittal SA from a strong-buy rating to a hold rating in a research report on Tuesday, September 20th. Finally, Goldman Sachs Group Inc. lowered shares of ArcelorMittal SA from a conviction-buy rating to a buy rating in a research report on Tuesday, June 28th. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of Hold and an average target price of $5.40.
ArcelorMittal SA (NYSE:MT) traded up 2.38% during midday trading on Friday, reaching $6.44. 8,357,759 shares of the company’s stock were exchanged. The firm’s market capitalization is $19.69 billion. ArcelorMittal SA has a 52 week low of $2.93 and a 52 week high of $6.71. The stock’s 50 day moving average is $6.00 and its 200 day moving average is $5.45.
ArcelorMittal SA (NYSE:MT) last announced its earnings results on Friday, July 29th. The company reported $0.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.03 by $0.35. The company earned $14.74 billion during the quarter, compared to analysts’ expectations of $15.23 billion. ArcelorMittal SA had a negative net margin of 11.61% and a positive return on equity of 0.62%. The firm’s quarterly revenue was down 12.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.10 earnings per share. On average, analysts expect that ArcelorMittal SA will post ($0.05) EPS for the current fiscal year.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Fifth Third Bancorp increased its position 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 period. Reynolds Capital Management LLC bought a new stake in ArcelorMittal SA during the first quarter valued at approximately $106,000. Rhumbline Advisers boosted 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 in the last quarter. Cypress Wealth Advisors LLC boosted 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 in the last quarter. Finally, Baird Financial Group Inc. boosted 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 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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