JPMorgan Chase & Co. Reaffirms Neutral Rating for ArcelorMittal SA (MT)
ArcelorMittal SA (NYSE:MT)‘s stock had its “neutral” rating reaffirmed by stock analysts at JPMorgan Chase & Co. in a research note issued to investors on Thursday.
Several other research analysts also recently commented on MT. Credit Suisse Group AG set a $10.00 price target on shares of ArcelorMittal SA and gave the stock a “buy” rating in a research note on Saturday, October 1st. Citigroup Inc. reissued a “buy” rating on shares of ArcelorMittal SA in a research note on Friday, October 7th. Cowen and Company lifted their price target on shares of ArcelorMittal SA from $6.00 to $8.00 and gave the stock a “market perform” rating in a research note on Wednesday, August 3rd. Vetr raised shares of ArcelorMittal SA from a “buy” rating to a “strong-buy” rating and set a $6.78 price target on the stock in a research note on Tuesday, September 13th. Finally, Jefferies Group reissued a “buy” rating on shares of ArcelorMittal SA in a research note on Friday, September 30th. Two research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $5.50.
Shares of ArcelorMittal SA (NYSE:MT) opened at 6.96 on Thursday. ArcelorMittal SA has a one year low of $2.93 and a one year high of $7.11. The firm’s market capitalization is $21.28 billion. The company’s 50 day moving average is $6.37 and its 200-day moving average is $5.71.
ArcelorMittal SA (NYSE:MT) last announced its earnings results on Tuesday, November 8th. The company reported $0.22 earnings per share for the quarter, beating analysts’ consensus estimates of $0.18 by $0.04. The business had revenue of $14.52 billion for the quarter, compared to the consensus estimate of $15.59 million. ArcelorMittal SA had a negative net margin of 11.61% and a positive return on equity of 0.62%. ArcelorMittal SA’s quarterly revenue was down 1.5% on a year-over-year basis. During the same period last year, the firm posted ($0.09) earnings per share. Equities analysts expect that ArcelorMittal SA will post $0.51 EPS for the current year.
A number of hedge funds have recently added to or reduced their stakes in the company. Northern Trust Corp increased its position in ArcelorMittal SA by 153.0% in the third quarter. Northern Trust Corp now owns 2,173,638 shares of the company’s stock worth $13,129,000 after buying an additional 1,314,515 shares during the last quarter. Suntrust Banks Inc. purchased a new position in ArcelorMittal SA during the third quarter worth about $181,000. Emerald Acquisition Ltd. purchased a new position in ArcelorMittal SA during the third quarter worth about $981,000. SG Americas Securities LLC increased its position in ArcelorMittal SA by 15.3% in the third quarter. SG Americas Securities LLC now owns 1,186,806 shares of the company’s stock worth $7,168,000 after buying an additional 157,554 shares during the last quarter. Finally, Ameriprise Financial Inc. increased its position in ArcelorMittal SA by 62.8% in the third quarter. Ameriprise Financial Inc. now owns 49,231 shares of the company’s stock worth $298,000 after buying an additional 18,989 shares during the last quarter. Institutional investors and hedge funds own 3.87% of the company’s stock.
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.
Receive News & Stock Ratings for ArcelorMittal SA Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ArcelorMittal SA and related stocks with our FREE daily email newsletter.