ArcelorMittal SA (MT) Trading Up 3.1%
ArcelorMittal SA (NYSE:MT) was up 3.1% during trading on Friday . The stock traded as high as $5.72 and last traded at $5.71, with a volume of 10,745,401 shares traded. The stock had previously closed at $5.54.
Several equities research analysts have recently commented on MT shares. Zacks Investment Research raised shares of ArcelorMittal SA from a “sell” rating to a “hold” rating in a research report on Wednesday, April 6th. Berenberg Bank set a €6.50 ($7.22) target price on shares of ArcelorMittal SA and gave the stock a “buy” rating in a research report on Monday, April 18th. Credit Suisse Group AG raised shares of ArcelorMittal SA from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $6.00 to $7.50 in a research report on Wednesday, April 13th. Vetr raised shares of ArcelorMittal SA from a “buy” rating to a “strong-buy” rating and set a $5.70 target price for the company in a research report on Wednesday, June 22nd. Finally, Goldman Sachs Group Inc. downgraded shares of ArcelorMittal SA from a “conviction-buy” rating to a “buy” rating in a research report on Tuesday, June 28th. Four analysts have rated the stock with a sell rating, eleven have assigned a hold rating and ten have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $4.99.
The company has a 50-day moving average price of $5.16 and a 200 day moving average price of $4.60. The company’s market cap is $10.24 billion.
ArcelorMittal SA (NYSE:MT) last announced its quarterly earnings results on Friday, May 6th. The company reported ($0.23) EPS 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 period in the previous year, the company earned ($0.41) EPS. The firm’s revenue for the quarter was down 21.7% on a year-over-year basis. On average, equities research analysts expect that ArcelorMittal SA will post $0.17 earnings per share for the current fiscal year.
An institutional investor recently raised its position 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 Form 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 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.