ArcelorMittal SA (MT) Stock Price Down 0.8%
ArcelorMittal SA (NYSE:MT)’s share price was down 0.8% on Wednesday . The stock traded as low as $4.51 and last traded at $4.68, with a volume of 5,910,532 shares trading hands. The stock had previously closed at $4.72.
Several equities analysts recently weighed in on MT shares. Vetr raised shares of ArcelorMittal SA from a “buy” rating to a “strong-buy” rating and set a $5.70 price objective on the stock in a research report on Wednesday, June 22nd. Citigroup Inc. reissued a “buy” rating on shares of ArcelorMittal SA in a research report on Wednesday, June 29th. Berenberg Bank raised shares of ArcelorMittal SA from a “hold” rating to a “buy” rating in a research report on Thursday, March 31st. Goldman Sachs Group Inc. raised shares of ArcelorMittal SA from a “neutral” rating to a “buy” rating and lifted their price target for the company from $4.06 to $5.03 in a research report on Monday, April 11th. Finally, Jefferies Group raised shares of ArcelorMittal SA from a “hold” rating to a “buy” rating and lifted their price target for the company from $4.50 to $7.00 in a research report on Wednesday, April 20th. Four equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $4.99.
The stock’s market capitalization is $8.41 billion. The firm has a 50 day moving average of $4.89 and a 200 day moving average of $4.51.
ArcelorMittal SA (NYSE:MT) last issued its earnings results on Friday, May 6th. The company reported ($0.23) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.20) by $0.03. The business earned $13.40 billion during the quarter, compared to analyst estimates of $14.25 billion. During the same period in the prior year, the firm posted ($0.41) EPS. The business’s quarterly revenue was down 21.7% compared to the same quarter last year. Equities analysts anticipate that ArcelorMittal SA will post $0.11 earnings per share for the current fiscal year.
An institutional investor recently raised its position in ArcelorMittal SA stock. Morgan Stanley boosted its stake in shares of ArcelorMittal SA (NYSE:MT) by 8.9% during the fourth quarter, Holdings Channel reports. The institutional investor owned 8,505,451 shares of the company’s stock after buying an additional 695,850 shares during the period. Morgan Stanley owned approximately 0.47% of ArcelorMittal SA worth $35,893,000 as of its most recent filing with the SEC.
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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