ArcelorMittal SA (MT) Stock Price Down 4.4%
ArcelorMittal SA (NYSE:MT)’s share price was down 4.4% during trading on Tuesday . The stock traded as low as $6.05 and last traded at $6.09, with a volume of 13,290,979 shares trading hands. The stock had previously closed at $6.37.
Several equities analysts have commented on MT shares. Zacks Investment Research upgraded 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) price objective on shares of ArcelorMittal SA and gave the company a “buy” rating in a research report on Monday, April 18th. Credit Suisse Group AG upgraded shares of ArcelorMittal SA from a “neutral” rating to an “outperform” rating and increased 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. Finally, Citigroup Inc. reiterated a “buy” rating on shares of ArcelorMittal SA in a research report on Thursday, July 28th. Three equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and ten have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $4.99.
The company’s market capitalization is $18.09 billion. The company has a 50 day moving average price of $5.29 and a 200-day moving average price of $4.73.
ArcelorMittal SA (NYSE:MT) last issued its quarterly earnings data on Friday, July 29th. The company reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.35. The company earned $14.74 billion during the quarter, compared to analysts’ expectations of $15.23 billion. The firm’s quarterly revenue was down 12.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.10 earnings per share. On average, equities analysts anticipate that ArcelorMittal SA will post $0.16 earnings per share for the current fiscal year.
A hedge fund recently raised its stake in ArcelorMittal SA stock. Morgan Stanley increased its stake in shares of 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 institutional investor 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 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.
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