ArcelorMittal SA (MT) Trading Down 4.3%
ArcelorMittal SA (NYSE:MT)’s share price traded down 4.3% on Friday . The stock traded as low as $6.03 and last traded at $6.04, with a volume of 17,540,890 shares. The stock had previously closed at $6.31.
Several equities analysts have weighed in on the stock. Clarkson Capital upgraded shares of ArcelorMittal SA from a “neutral” rating to a “buy” rating in a research report on Tuesday, August 9th. TheStreet upgraded shares of ArcelorMittal SA from a “sell” rating to a “hold” rating in a research report on Friday, July 29th. Jefferies Group reiterated a “buy” rating on shares of ArcelorMittal SA in a research report on Wednesday, August 3rd. Cowen and Company lifted their price objective on shares of ArcelorMittal SA from $6.00 to $8.00 and gave the stock a “market perform” rating in a research report on Wednesday, August 3rd. Finally, Citigroup Inc. reiterated a “buy” rating on shares of ArcelorMittal SA in a research report on Thursday, July 28th. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating and ten have assigned a buy rating to the company. ArcelorMittal SA has a consensus rating of “Hold” and an average target price of $5.18.
The firm’s 50 day moving average price is $5.59 and its 200-day moving average price is $4.88. The firm’s market cap is $18.41 billion.
ArcelorMittal SA (NYSE:MT) last released its earnings results 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. During the same period last year, the business posted $0.10 EPS. The business 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. Equities analysts expect that ArcelorMittal SA will post $0.45 EPS for the current year.
An institutional investor recently raised its position in ArcelorMittal SA stock. Morgan Stanley raised its position in shares of ArcelorMittal SA (NYSE:MT) by 8.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. 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 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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