ArcelorMittal SA (MT) Shares Down 2.9%
Shares of ArcelorMittal SA (NYSE:MT) were down 2.9% during mid-day trading on Friday . The company traded as low as $6.34 and last traded at $6.36, with a volume of 6,939,970 shares. The stock had previously closed at $6.55.
A number of analysts recently issued reports on MT shares. Cowen and Company increased their target price 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. 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. Citigroup Inc. reissued a “buy” rating on shares of ArcelorMittal SA in a research report on Thursday, July 28th. 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. Finally, Independent Research GmbH set a €4.50 ($5.06) target price on shares of ArcelorMittal SA and gave the stock a “neutral” rating in a research report on Wednesday, May 11th. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and ten have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $5.24.
The firm’s market cap is $19.45 billion. The company’s 50-day moving average price is $5.86 and its 200 day moving average price is $4.97.
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 Thomson Reuters’ consensus estimate of $0.03 by $0.35. The business earned $14.74 billion during the quarter, compared to the consensus estimate of $15.23 billion. During the same period in the prior year, the firm earned $0.10 earnings per share. The business’s quarterly revenue was down 12.7% on a year-over-year basis. On average, equities research analysts predict that ArcelorMittal SA will post $0.45 EPS for the current fiscal year.
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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