ArcelorMittal SA (MT) Shares Gap Up to $6.28
ArcelorMittal SA (NYSE:MT) gapped up prior to trading on Tuesday . The stock had previously closed at $6.17, but opened at $6.28. ArcelorMittal SA shares last traded at $6.48, with a volume of 10,569,076 shares traded.
MT has been the subject of several analyst reports. Berenberg Bank set a €6.50 ($7.30) target price on ArcelorMittal SA and gave the stock a “buy” rating in a report on Monday, April 18th. Zacks Investment Research upgraded ArcelorMittal SA from a “hold” rating to a “buy” rating and set a $6.25 target price for the company in a report on Monday, April 25th. Jefferies Group raised ArcelorMittal SA from a “hold” rating to a “buy” rating and lifted their price target for the stock from $4.50 to $7.00 in a research report on Wednesday, April 20th. Citigroup Inc. raised ArcelorMittal SA from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $5.00 to $5.40 in a research report on Wednesday, June 1st. Finally, Vetr downgraded ArcelorMittal SA from a “strong-buy” rating to a “buy” rating and set a $6.18 price target on the stock. in a research report on Wednesday, June 8th. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and ten have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $5.19.
The stock’s market cap is $19.57 billion. The stock’s 50-day moving average is $5.70 and its 200 day moving average is $4.93.
ArcelorMittal SA (NYSE:MT) last announced its earnings results on Friday, July 29th. The company reported $0.38 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.03 by $0.35. The firm had revenue of $14.74 billion for the quarter, compared to the consensus estimate of $15.23 billion. ArcelorMittal SA’s revenue for the quarter was down 12.7% on a year-over-year basis. During the same quarter last year, the business posted $0.10 EPS. On average, equities research analysts forecast that ArcelorMittal SA will post $0.45 EPS for the current fiscal year.
A hedge fund recently raised its stake in ArcelorMittal SA stock. Morgan Stanley increased its position in ArcelorMittal SA (NYSE:MT) by 8.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund 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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.