ArcelorMittal SA (MT) Shares Gap Up to $5.43
ArcelorMittal SA (NYSE:MT) gapped up before the market opened on Thursday . The stock had previously closed at $5.41, but opened at $5.43. ArcelorMittal SA shares last traded at $5.51, with a volume of 7,658,242 shares changing hands.
Several equities research analysts have recently weighed in on the company. Berenberg Bank reiterated a “buy” rating on shares of ArcelorMittal SA in a research report on Sunday, May 29th. Credit Suisse Group AG upgraded ArcelorMittal SA from a “neutral” rating to an “outperform” rating and upped their price target for the company from $6.00 to $7.50 in a research report on Wednesday, April 13th. Vetr upgraded ArcelorMittal SA from a “hold” rating to a “buy” rating and set a $5.70 price target on the stock in a research report on Tuesday. Goldman Sachs Group Inc. set a €5.40 ($6.00) price objective on ArcelorMittal SA and gave the stock a “buy” rating in a report on Tuesday, April 12th. Finally, Commerzbank AG set a €5.00 ($5.56) price objective on ArcelorMittal SA and gave the stock a “neutral” rating in a report on Friday, May 6th. Four analysts have rated the stock with a sell rating, ten have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. ArcelorMittal SA currently has an average rating of “Hold” and a consensus target price of $4.99.
The company’s 50 day moving average is $5.14 and its 200-day moving average is $4.59. The firm’s market cap is $9.93 billion.
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. During the same period in the previous year, the business posted ($0.41) earnings per share. The business earned $13.40 billion during the quarter, compared to analyst estimates of $14.25 billion. The firm’s quarterly revenue was down 21.7% compared to the same quarter last year. Equities analysts predict that ArcelorMittal SA will post $0.11 EPS for the current fiscal year.
An institutional investor recently raised its position in ArcelorMittal SA stock. Morgan Stanley increased its stake in ArcelorMittal SA (NYSE:MT) by 8.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm 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 quarter.
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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