ArcelorMittal SA (MT) Stock Rating Reaffirmed by Jefferies Group
ArcelorMittal SA (NYSE:MT)‘s stock had its “buy” rating reiterated by analysts at Jefferies Group in a research report issued on Friday.
MT has been the subject of several other reports. Vetr upgraded ArcelorMittal SA from a “buy” rating to a “strong-buy” rating and set a $6.78 target price for the company in a research note on Tuesday, September 13th. JPMorgan Chase & Co. upgraded ArcelorMittal SA from an “underweight” rating to a “neutral” rating and lifted their target price for the stock from $2.93 to $6.55 in a research note on Friday, August 19th. Zacks Investment Research downgraded ArcelorMittal SA from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 20th. Goldman Sachs Group Inc. downgraded ArcelorMittal SA from a “conviction-buy” rating to a “buy” rating in a research note on Tuesday, June 28th. Finally, Cowen and Company lifted their target price on ArcelorMittal SA from $6.00 to $8.00 and gave the stock a “market perform” rating in a research note on Wednesday, August 3rd. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. ArcelorMittal SA currently has a consensus rating of “Hold” and an average price target of $5.40.
ArcelorMittal SA (NYSE:MT) opened at 6.09 on Friday. The firm’s 50-day moving average price is $6.03 and its 200 day moving average price is $5.42. ArcelorMittal SA has a 1-year low of $2.93 and a 1-year high of $6.94. The firm’s market capitalization is $18.62 billion.
ArcelorMittal SA (NYSE:MT) last posted its quarterly earnings results on Friday, July 29th. The company reported $0.38 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.03 by $0.35. The firm had revenue of $14.74 billion for the quarter, compared to analyst estimates of $15.23 billion. ArcelorMittal SA had a positive return on equity of 0.62% and a negative net margin of 11.61%. The business’s quarterly revenue was down 12.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.10 EPS. On average, analysts predict that ArcelorMittal SA will post ($0.05) EPS for the current year.
Institutional investors have recently modified their holdings of the company. Loomis Sayles & Co. L P purchased a new position in shares of ArcelorMittal SA during the first quarter worth about $78,715,000. Anchor Bolt Capital LP purchased a new position in shares of ArcelorMittal SA during the second quarter worth about $35,108,000. Allianz Asset Management AG boosted its position in shares of ArcelorMittal SA by 68.1% in the second quarter. Allianz Asset Management AG now owns 18,054,973 shares of the company’s stock worth $84,136,000 after buying an additional 7,316,803 shares during the last quarter. Adage Capital Partners GP L.L.C. boosted its position in shares of ArcelorMittal SA by 700.0% in the first quarter. Adage Capital Partners GP L.L.C. now owns 8,000,000 shares of the company’s stock worth $36,640,000 after buying an additional 7,000,000 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its position in shares of ArcelorMittal SA by 88.0% in the first quarter. Renaissance Technologies LLC now owns 5,567,420 shares of the company’s stock worth $25,495,000 after buying an additional 2,606,411 shares during the last quarter. 3.88% of the stock is owned by institutional investors and hedge funds.
About ArcelorMittal SA
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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