ArcelorMittal SA (MT) Shares Up 4.8%
ArcelorMittal SA (NYSE:MT)’s share price shot up 4.8% on Monday . The company traded as high as $6.32 and last traded at $6.31, with a volume of 7,691,434 shares. The stock had previously closed at $6.02.
A number of brokerages have weighed in on MT. Clarkson Capital raised shares of ArcelorMittal SA from a “neutral” rating to a “buy” rating in a research note on Tuesday, August 9th. Cowen and Company boosted their price objective on shares of ArcelorMittal SA from $6.00 to $8.00 and gave the company a “market perform” rating in a report on Wednesday, August 3rd. Jefferies Group restated a “buy” rating on shares of ArcelorMittal SA in a report on Wednesday, August 3rd. TheStreet upgraded shares of ArcelorMittal SA from a “sell” rating to a “hold” rating in a report on Friday, July 29th. Finally, Citigroup Inc. restated a “buy” rating on shares of ArcelorMittal SA in a report on Thursday, July 28th. Three analysts have rated the stock with a sell rating, twelve have given a hold rating and ten have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $5.18.
The company has a 50-day moving average price of $5.64 and a 200-day moving average price of $4.91. The firm’s market cap is $19.20 billion.
ArcelorMittal SA (NYSE:MT) last posted its quarterly earnings results on Friday, July 29th. The company reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.35. The business earned $14.74 billion during the quarter, compared to analyst estimates of $15.23 billion. During the same period in the previous year, the business posted $0.10 EPS. The business’s revenue for the quarter was down 12.7% compared to the same quarter last year. On average, equities research analysts anticipate that ArcelorMittal SA will post $0.45 EPS for the current 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 Form 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 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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