ArcelorMittal SA (MT) Upgraded to “Outperform” at RBC Capital Markets
ArcelorMittal SA (NYSE:MT) was upgraded by RBC Capital Markets from a “sector perform” rating to an “outperform” rating in a report issued on Friday.
A number of other research firms have also recently commented on MT. Credit Suisse Group AG set a $10.00 price target on ArcelorMittal SA and gave the stock a “buy” rating in a report on Saturday, October 1st. Cowen and Company boosted their price objective on ArcelorMittal SA from $6.00 to $8.00 and gave the stock a “market perform” rating in a report on Wednesday, August 3rd. Citigroup Inc. restated a “buy” rating on shares of ArcelorMittal SA in a report on Friday, October 7th. Vetr upgraded ArcelorMittal SA from a “buy” rating to a “strong-buy” rating and set a $6.78 price objective for the company in a report on Tuesday, September 13th. Finally, Jefferies Group restated a “buy” rating on shares of ArcelorMittal SA in a report on Friday, September 30th. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Hold” and an average price target of $5.58.
Shares of ArcelorMittal SA (NYSE:MT) opened at 7.56 on Friday. ArcelorMittal SA has a 12-month low of $2.93 and a 12-month high of $7.69. The company’s 50-day moving average price is $6.70 and its 200-day moving average price is $5.83. The firm’s market capitalization is $23.13 billion.
ArcelorMittal SA (NYSE:MT) last posted its quarterly earnings results on Tuesday, November 8th. The company reported $0.22 EPS for the quarter, topping analysts’ consensus estimates of $0.18 by $0.04. ArcelorMittal SA had a positive return on equity of 4.14% and a negative net margin of 9.37%. The business earned $14.52 billion during the quarter, compared to analysts’ expectations of $15.59 million. During the same quarter last year, the company posted ($0.09) earnings per share. ArcelorMittal SA’s quarterly revenue was down 1.5% on a year-over-year basis. Analysts anticipate that ArcelorMittal SA will post $0.44 EPS for the current year.
A number of hedge funds have recently modified their holdings of the stock. Jane Street Group LLC boosted its stake in shares of ArcelorMittal SA by 2,925.5% in the third quarter. Jane Street Group LLC now owns 2,492,979 shares of the company’s stock worth $15,058,000 after buying an additional 2,410,579 shares during the period. OLD Mission Capital LLC boosted its stake in shares of ArcelorMittal SA by 107.8% in the third quarter. OLD Mission Capital LLC now owns 165,820 shares of the company’s stock worth $1,101,000 after buying an additional 86,012 shares during the period. Two Sigma Securities LLC purchased a new stake in shares of ArcelorMittal SA during the third quarter worth approximately $584,000. AMP Capital Investors Ltd purchased a new stake in shares of ArcelorMittal SA during the third quarter worth approximately $1,306,000. Finally, Profund Advisors LLC boosted its stake in shares of ArcelorMittal SA by 9.0% in the third quarter. Profund Advisors LLC now owns 75,810 shares of the company’s stock worth $458,000 after buying an additional 6,270 shares during the period. 3.86% 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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