ArcelorMittal SA (MT) Upgraded to Outperform at Royal Bank Of Canada
MT has been the topic of a number of other research reports. Citigroup Inc. restated a buy rating on shares of ArcelorMittal SA in a research report on Friday, October 7th. Vetr upgraded shares of ArcelorMittal SA from a buy rating to a strong-buy rating and set a $6.78 target price on the stock in a research report on Tuesday, September 13th. Jefferies Group restated a buy rating on shares of ArcelorMittal SA in a research report on Friday, September 30th. JPMorgan Chase & Co. upgraded shares of ArcelorMittal SA from an underweight rating to a neutral rating and increased their target price for the stock from $2.93 to $6.55 in a research report on Friday, August 19th. Finally, Credit Suisse Group AG set a $10.00 target price on shares of ArcelorMittal SA and gave the stock a buy rating in a research report on Wednesday, November 9th. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of Hold and a consensus price target of $5.58.
ArcelorMittal SA (NYSE:MT) opened at 7.61 on Friday. ArcelorMittal SA has a 52-week low of $2.93 and a 52-week high of $7.69. The company has a 50-day moving average of $6.76 and a 200 day moving average of $5.85. The company’s market cap is $23.28 billion.
ArcelorMittal SA (NYSE:MT) last announced its earnings results on Tuesday, November 8th. The company reported $0.22 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.18 by $0.04. ArcelorMittal SA had a negative net margin of 9.37% and a positive return on equity of 4.14%. The firm had revenue of $14.52 billion for the quarter, compared to analyst estimates of $15.59 million. During the same quarter in the prior year, the business posted ($0.09) EPS. The business’s revenue was down 1.5% compared to the same quarter last year. Equities research analysts predict that ArcelorMittal SA will post $0.44 EPS for the current year.
A number of large investors have recently bought and sold shares of MT. Anchor Bolt Capital LP bought a new stake in ArcelorMittal SA during the second quarter valued at $35,108,000. Allianz Asset Management AG increased its stake in ArcelorMittal SA by 68.1% in the second quarter. Allianz Asset Management AG now owns 18,054,973 shares of the company’s stock valued at $84,136,000 after buying an additional 7,316,803 shares during the period. Jane Street Group LLC increased its stake in 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 valued at $15,058,000 after buying an additional 2,410,579 shares during the period. JPMorgan Chase & Co. increased its stake in ArcelorMittal SA by 73.1% in the third quarter. JPMorgan Chase & Co. now owns 5,607,239 shares of the company’s stock valued at $33,868,000 after buying an additional 2,368,359 shares during the period. Finally, Credit Suisse AG increased its stake in ArcelorMittal SA by 607.1% in the second quarter. Credit Suisse AG now owns 2,680,406 shares of the company’s stock valued at $12,490,000 after buying an additional 2,301,343 shares during the period. 3.80% of the stock is owned by hedge funds and other 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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