ArcelorMittal SA (MT) Shares Down 5.7%
Shares of ArcelorMittal SA (NYSE:MT) fell 5.7% during trading on Tuesday . The stock traded as low as $5.43 and last traded at $5.45, with a volume of 5,744,493 shares changing hands. The stock had previously closed at $5.78.
Several brokerages recently commented on MT. Vetr upgraded ArcelorMittal SA from a “hold” rating to a “buy” rating and set a $5.70 target price on the stock in a report on Tuesday. Citigroup Inc. reiterated a “buy” rating on shares of ArcelorMittal SA in a report on Wednesday, June 29th. Goldman Sachs Group Inc. cut ArcelorMittal SA from a “conviction-buy” rating to a “buy” rating in a report on Tuesday, June 28th. Berenberg Bank restated a “buy” rating on shares of ArcelorMittal SA in a report on Sunday, May 29th. Finally, Nord/LB set a €4.00 ($4.44) price target on ArcelorMittal SA and gave the stock a “neutral” rating in a report on Thursday, May 19th. Four equities research analysts have rated the stock with a sell rating, ten have given a hold rating and eleven have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $4.99.
The firm’s market cap is $10.09 billion. The firm’s 50 day moving average is $5.12 and its 200-day moving average is $4.58.
ArcelorMittal SA (NYSE:MT) last posted its quarterly earnings results on Friday, May 6th. The company reported ($0.23) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.20) by $0.03. During the same period in the prior year, the company earned ($0.41) EPS. The firm earned $13.40 billion during the quarter, compared to analysts’ expectations of $14.25 billion. ArcelorMittal SA’s revenue was down 21.7% on a year-over-year basis. Equities analysts forecast that ArcelorMittal SA will post $0.11 earnings per share for the current year.
A hedge fund recently raised its stake in ArcelorMittal SA stock. Morgan Stanley raised its stake in ArcelorMittal SA (NYSE:MT) by 8.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. 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 about 0.47% of ArcelorMittal SA worth $35,893,000 at the end of the most recent reporting period.
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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