ArcelorMittal SA (MT) Lowered to “Neutral” at Goldman Sachs Group Inc.
ArcelorMittal SA (NYSE:MT) was downgraded by Goldman Sachs Group Inc. from a “buy” rating to a “neutral” rating in a research note issued to investors on Thursday.
A number of other equities analysts also recently weighed in on MT. Vetr downgraded shares of ArcelorMittal SA from a “strong-buy” rating to a “buy” rating and set a $5.66 price target on the stock. in a research note on Monday, June 20th. Citigroup Inc. reissued a “buy” rating on shares of ArcelorMittal SA in a research note on Wednesday, June 29th. TheStreet raised shares of ArcelorMittal SA from a “sell” rating to a “hold” rating in a research note on Friday, July 29th. Jefferies Group reissued a “buy” rating on shares of ArcelorMittal SA in a research note on Wednesday, August 3rd. Finally, Cowen and Company raised their target price on shares of ArcelorMittal SA from $6.00 to $8.00 and gave the company a “market perform” rating in a research note on Wednesday, August 3rd. Two research analysts have rated the stock with a sell rating, fourteen have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. ArcelorMittal SA presently has a consensus rating of “Hold” and a consensus target price of $5.40.
Shares of ArcelorMittal SA (NYSE:MT) traded down 3.32% during trading on Thursday, hitting $6.11. 3,241,589 shares of the company were exchanged. The stock’s market cap is $18.68 billion. ArcelorMittal SA has a 12 month low of $2.93 and a 12 month high of $6.59. The company’s 50-day moving average price is $6.00 and its 200 day moving average price is $5.50.
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 the Zacks’ consensus estimate of $0.03 by $0.35. ArcelorMittal SA had a negative net margin of 11.61% and a positive return on equity of 0.62%. The firm had revenue of $14.74 billion for the quarter, compared to analyst estimates of $15.23 billion. During the same quarter last year, the business earned $0.10 earnings per share. ArcelorMittal SA’s revenue was down 12.7% compared to the same quarter last year. On average, equities analysts predict that ArcelorMittal SA will post ($0.05) earnings per share for the current fiscal year.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in MT. Capstone Asset Management Co. increased its position in ArcelorMittal SA by 4.1% in the third quarter. Capstone Asset Management Co. now owns 140,881 shares of the company’s stock valued at $851,000 after buying an additional 5,580 shares during the period. Cubist Systematic Strategies LLC purchased a new position in ArcelorMittal SA during the second quarter valued at $496,000. A.R.T. Advisors LLC increased its position in ArcelorMittal SA by 78.3% in the second quarter. A.R.T. Advisors LLC now owns 1,436,805 shares of the company’s stock valued at $6,695,000 after buying an additional 630,884 shares during the period. Carlson Capital L P increased its position in ArcelorMittal SA by 273.3% in the second quarter. Carlson Capital L P now owns 280,000 shares of the company’s stock valued at $1,305,000 after buying an additional 205,000 shares during the period. Finally, Anchor Bolt Capital LP purchased a new position in ArcelorMittal SA during the second quarter valued at $35,108,000. 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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