ArcelorMittal SA (MT) Shares Gap Up to $5.43
Shares of 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.
A number of research firms have issued reports on MT. Jefferies Group upgraded ArcelorMittal SA from a “hold” rating to a “buy” rating and increased their price target for the stock from $4.50 to $7.00 in a report on Wednesday, April 20th. Vetr cut ArcelorMittal SA from a “buy” rating to a “hold” rating and set a $5.70 price target on the stock. in a report on Monday. Zacks Investment Research upgraded ArcelorMittal SA from a “hold” rating to a “buy” rating and set a $6.25 price target on the stock in a report on Monday, April 25th. JPMorgan Chase & Co. cut ArcelorMittal SA from a “neutral” rating to an “underweight” rating and increased their price target for the stock from $4.51 to $5.58 in a report on Monday, April 18th. Finally, Credit Suisse Group AG upgraded ArcelorMittal SA from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $6.00 to $7.50 in a report on Wednesday, April 13th. Four research analysts have rated the stock with a sell rating, eleven have given a hold rating and ten have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $4.99.
The company’s market capitalization is $10.24 billion. The company has a 50-day moving average of $5.16 and a 200 day moving average of $4.60.
ArcelorMittal SA (NYSE:MT) last released its earnings results on Friday, May 6th. The company reported ($0.23) EPS for the quarter, missing the Thomson Reuters’ 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 quarter last year, the business earned ($0.41) earnings per share. The company’s quarterly revenue was down 21.7% on a year-over-year basis. Analysts expect that ArcelorMittal SA will post $0.17 earnings per share for the current year.
An institutional investor recently raised its position in ArcelorMittal SA stock. Morgan Stanley raised its position in shares of ArcelorMittal SA (NYSE:MT) by 8.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. 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 SEC filing.
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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