ArcelorMittal SA (MT) Stock Price Down 4.3%
ArcelorMittal SA (NYSE:MT)’s share price fell 4.3% during trading on Friday . The company traded as low as $6.03 and last traded at $6.04, with a volume of 17,540,890 shares trading hands. The stock had previously closed at $6.31.
A number of research firms have recently commented on MT. Berenberg Bank reissued a “buy” rating on shares of ArcelorMittal SA in a research report on Sunday, May 29th. JPMorgan Chase & Co. set a €4.30 ($4.78) target price on shares of ArcelorMittal SA and gave the stock a “sell” rating in a research report on Monday, April 18th. Commerzbank AG set a €5.00 ($5.56) target price on shares of ArcelorMittal SA and gave the stock a “neutral” rating in a research report on Friday, May 6th. Barclays PLC set a €4.50 ($5.00) target price on shares of ArcelorMittal SA and gave the stock a “neutral” rating in a research report on Tuesday, May 10th. Finally, Nord/LB set a €4.00 ($4.44) target price on shares of ArcelorMittal SA and gave the stock a “neutral” rating in a research report on Thursday, May 19th. 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 company presently has a consensus rating of “Hold” and an average target price of $5.18.
The stock’s market capitalization is $18.41 billion. The firm has a 50 day moving average of $5.58 and a 200 day moving average of $4.86.
ArcelorMittal SA (NYSE:MT) last issued its quarterly earnings results on Friday, July 29th. The company reported $0.38 EPS for the quarter, topping the Zacks’ consensus estimate of $0.03 by $0.35. The company earned $14.74 billion during the quarter, compared to the consensus estimate of $15.23 billion. The firm’s revenue for the quarter was down 12.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.10 EPS. Equities analysts anticipate that ArcelorMittal SA will post $0.45 earnings per share for the current fiscal year.
An institutional investor recently raised its position in ArcelorMittal SA stock. Morgan Stanley raised its stake in shares of ArcelorMittal SA (NYSE:MT) by 8.9% during the fourth quarter, according to its most recent 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 0.47% of ArcelorMittal SA worth $35,893,000 as of its most recent SEC filing.
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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.