ArcelorMittal SA (MT) Shares Up 5.8%
ArcelorMittal SA (NYSE:MT) shares shot up 5.8% during trading on Friday . The stock traded as high as $4.93 and last traded at $4.93, with a volume of 6,429,517 shares trading hands. The stock had previously closed at $4.66.
Several brokerages have commented on MT. Berenberg Bank restated a “buy” rating on shares of ArcelorMittal SA in a research report on Sunday, May 29th. Credit Suisse Group AG upgraded shares of ArcelorMittal SA from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $6.00 to $7.50 in a research report on Wednesday, April 13th. 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 research report on Wednesday, June 22nd. Goldman Sachs Group Inc. set a €5.40 ($6.00) price objective on shares of ArcelorMittal SA and gave the company a “buy” rating in a research report on Tuesday, April 12th. Finally, Commerzbank AG set a €5.00 ($5.56) price objective on shares of ArcelorMittal SA and gave the company a “neutral” rating in a research report on Friday, May 6th. Four equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. ArcelorMittal SA presently has an average rating of “Hold” and an average price target of $4.99.
The firm has a 50 day moving average price of $4.89 and a 200-day moving average price of $4.51. The firm’s market cap is $8.95 billion.
ArcelorMittal SA (NYSE:MT) last announced its earnings results on Friday, May 6th. The company reported ($0.23) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.20) by $0.03. The firm had revenue of $13.40 billion for the quarter, compared to analysts’ expectations of $14.25 billion. During the same quarter last year, the firm earned ($0.41) earnings per share. The company’s quarterly revenue was down 21.7% on a year-over-year basis. Equities research analysts expect that ArcelorMittal SA will post $0.11 earnings per share for the current fiscal year.
A hedge fund recently raised its stake in ArcelorMittal SA stock. Morgan Stanley raised its stake in ArcelorMittal SA (NYSE:MT) by 8.9% during the fourth quarter, Holdings Channel reports. 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 about 0.47% of ArcelorMittal SA worth $35,893,000 at the end of the most recent reporting period.
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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