ArcelorMittal SA (MT) Receives Buy Rating from Citigroup Inc.
ArcelorMittal SA (NYSE:MT)‘s stock had its “buy” rating reaffirmed by investment analysts at Citigroup Inc. in a report issued on Friday.
A number of other brokerages have also recently weighed in on MT. Credit Suisse Group AG set a $10.00 price objective on shares of ArcelorMittal SA and gave the company a “buy” rating in a report on Saturday, October 1st. Cowen and Company lifted 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. Vetr upgraded shares of ArcelorMittal SA from a “buy” rating to a “strong-buy” rating and set a $5.70 price objective for the company in a report on Wednesday, June 22nd. Goldman Sachs Group Inc. cut shares of ArcelorMittal SA from a “conviction-buy” rating to a “buy” rating in a report on Tuesday, June 28th. Finally, Jefferies Group reiterated a “buy” rating on shares of ArcelorMittal SA in a report on Friday, September 30th. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. ArcelorMittal SA currently has an average rating of “Hold” and an average target price of $5.40.
ArcelorMittal SA (NYSE:MT) opened at 6.13 on Friday. ArcelorMittal SA has a 12-month low of $2.93 and a 12-month high of $6.94. The firm has a 50 day moving average of $6.01 and a 200-day moving average of $5.44. The stock’s market cap is $18.74 billion.
ArcelorMittal SA (NYSE:MT) last announced its quarterly earnings data on Friday, July 29th. The company reported $0.38 earnings per share for the quarter, beating analysts’ consensus estimates of $0.03 by $0.35. The firm earned $14.74 billion during the quarter, compared to analysts’ expectations of $15.23 billion. ArcelorMittal SA had a negative net margin of 11.61% and a positive return on equity of 0.62%. The business’s quarterly revenue was down 12.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.10 earnings per share. On average, analysts expect that ArcelorMittal SA will post ($0.05) earnings per share for the current year.
Several institutional investors have recently bought and sold shares of MT. Fifth Third Bancorp boosted its position in ArcelorMittal SA by 70.0% in the second quarter. Fifth Third Bancorp now owns 21,760 shares of the company’s stock worth $101,000 after buying an additional 8,960 shares during the period. Reynolds Capital Management LLC bought a new position in ArcelorMittal SA during the first quarter worth $106,000. Rhumbline Advisers boosted its position in ArcelorMittal SA by 45.1% in the second quarter. Rhumbline Advisers now owns 22,952 shares of the company’s stock worth $107,000 after buying an additional 7,133 shares during the period. Cypress Wealth Advisors LLC boosted its position in ArcelorMittal SA by 4.8% in the first quarter. Cypress Wealth Advisors LLC now owns 23,763 shares of the company’s stock worth $109,000 after buying an additional 1,089 shares during the period. Finally, Baird Financial Group Inc. boosted its position in ArcelorMittal SA by 7.9% in the second quarter. Baird Financial Group Inc. now owns 19,609 shares of the company’s stock worth $112,000 after buying an additional 1,440 shares during the period. 3.88% of the stock is currently owned by institutional investors and hedge funds.
ArcelorMittal SA Company Profile
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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