ArcelorMittal SA (MT) Stock Price Up 3.1%
ArcelorMittal SA (NYSE:MT)’s share price rose 3.1% during mid-day trading on Friday . The company traded as high as $5.72 and last traded at $5.71, with a volume of 10,745,401 shares traded. The stock had previously closed at $5.54.
MT has been the subject of a number of recent research reports. Morgan Stanley set a €4.40 ($4.89) target price on ArcelorMittal SA and gave the stock a “buy” rating in a report on Tuesday, March 29th. Berenberg Bank set a €5.20 ($5.78) target price on ArcelorMittal SA and gave the stock a “buy” rating in a report on Thursday, March 31st. Zacks Investment Research raised ArcelorMittal SA from a “sell” rating to a “hold” rating in a report on Wednesday, April 6th. Goldman Sachs Group Inc. raised ArcelorMittal SA from a “neutral” rating to a “buy” rating and raised their price target for the company from $4.06 to $5.03 in a report on Monday, April 11th. Finally, Credit Suisse Group AG raised ArcelorMittal SA from a “neutral” rating to an “outperform” rating and raised their price target for the company from $6.00 to $7.50 in a report on Wednesday, April 13th. Four research analysts have rated the stock with a sell rating, ten have issued a hold rating and eleven have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $4.99.
The stock’s 50 day moving average is $5.16 and its 200-day moving average is $4.60. The stock’s market cap is $10.24 billion.
ArcelorMittal SA (NYSE:MT) last announced 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. The company had revenue of $13.40 billion for the quarter, compared to analyst estimates of $14.25 billion. During the same quarter last year, the firm posted ($0.41) earnings per share. The business’s quarterly revenue was down 21.7% compared to the same quarter last year. On average, analysts forecast that ArcelorMittal SA will post $0.17 earnings per share for the current fiscal year.
A hedge fund recently raised its stake in ArcelorMittal SA stock. Morgan Stanley raised its stake in shares of ArcelorMittal SA (NYSE:MT) by 8.9% during the fourth quarter, according to its most recent filing with the 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 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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