ArcelorMittal SA (MT) Sees Large Volume Increase
Shares of ArcelorMittal SA (NYSE:MT) saw unusually-strong trading volume on Wednesday . Approximately 17,485,381 shares traded hands during mid-day trading, an increase of 22% from the previous session’s volume of 14,290,111 shares.The stock last traded at $5.97 and had previously closed at $6.08.
A number of equities research analysts have recently weighed in on MT shares. Jefferies Group upgraded ArcelorMittal SA from a “hold” rating to a “buy” rating and boosted their price target for the company from $4.50 to $7.00 in a report on Wednesday, April 20th. Berenberg Bank upgraded ArcelorMittal SA from a “hold” rating to a “buy” rating in a research report on Thursday, March 31st. Morgan Stanley set a €4.40 ($4.89) price objective on ArcelorMittal SA and gave the company a “buy” rating in a research report on Tuesday, March 29th. Goldman Sachs Group Inc. set a €5.40 ($6.00) price objective on ArcelorMittal SA and gave the company a “buy” rating in a research report on Tuesday, April 12th. Finally, Zacks Investment Research upgraded ArcelorMittal SA from a “hold” rating to a “buy” rating and set a $6.25 price objective for the company in a research report on Monday, April 25th. Four analysts have rated the stock with a sell rating, eleven have assigned a hold rating and ten have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $4.99.
The stock has a 50 day moving average price of $5.21 and a 200 day moving average price of $4.66. The company’s market cap is $10.79 billion.
ArcelorMittal SA (NYSE:MT) last released its quarterly earnings results on Friday, May 6th. The company reported ($0.23) earnings per share (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 analysts’ expectations of $14.25 billion. During the same quarter last year, the company earned ($0.41) earnings per share. ArcelorMittal SA’s revenue for the quarter was down 21.7% on a year-over-year basis. On average, equities research analysts anticipate that ArcelorMittal SA will post $0.17 EPS 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, according to its most recent 13F filing with the Securities and Exchange Commission. 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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