ArcelorMittal SA (MT) Given a $10.00 Price Target by Credit Suisse Group AG Analysts
ArcelorMittal SA (NYSE:MT) has been assigned a $10.00 price objective by equities research analysts at Credit Suisse Group AG in a research report issued on Wednesday. The brokerage currently has a a “buy” rating on the stock. Credit Suisse Group AG’s price target suggests a potential upside of 40.85% from the company’s previous close.
MT has been the topic of several other research reports. Jefferies Group reiterated a “buy” rating on shares of ArcelorMittal SA in a report on Wednesday. Vetr upgraded shares of ArcelorMittal SA from a “hold” rating to a “buy” rating and set a $5.70 price target on the stock in a report on Tuesday, July 19th. TheStreet upgraded ArcelorMittal SA from a “sell” rating to a “hold” rating in a research report on Friday, July 29th. JPMorgan Chase & Co. upgraded ArcelorMittal SA from an “underweight” rating to a “neutral” rating and upped their price objective for the stock from $2.93 to $6.55 in a research report on Friday, August 19th. Finally, Clarkson Capital upgraded ArcelorMittal SA from a “neutral” rating to a “buy” rating in a research report on Tuesday, August 9th. Two investment analysts have rated the stock with a sell rating, fifteen have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $5.50.
Shares of ArcelorMittal SA (NYSE:MT) opened at 7.10 on Wednesday. The company’s market cap is $21.71 billion. The stock has a 50 day moving average of $6.40 and a 200 day moving average of $5.72. ArcelorMittal SA has a 52-week low of $2.93 and a 52-week high of $7.32.
ArcelorMittal SA (NYSE:MT) last issued its quarterly earnings results on Tuesday, November 8th. The company reported $0.22 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.18 by $0.04. ArcelorMittal SA had a negative net margin of 11.61% and a positive return on equity of 0.62%. The company had revenue of $14.52 billion for the quarter, compared to the consensus estimate of $15.59 million. During the same quarter in the prior year, the company earned ($0.09) EPS. ArcelorMittal SA’s quarterly revenue was down 1.5% on a year-over-year basis. On average, equities research analysts expect that ArcelorMittal SA will post $0.51 EPS for the current year.
A number of institutional investors have recently added to or reduced their stakes in MT. Advisor Partners LLC purchased a new position in ArcelorMittal SA during the third quarter valued at $115,000. Baird Financial Group Inc. increased its position 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. 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 in the last quarter. Rhumbline Advisers increased its position 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. Finally, Eagle Asset Management Inc. increased its position in ArcelorMittal SA by 71.3% in the second quarter. Eagle Asset Management Inc. now owns 24,632 shares of the company’s stock valued at $114,000 after buying an additional 10,250 shares in the last quarter. 3.87% of the stock is owned by institutional investors.
About ArcelorMittal SA
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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