ArcelorMittal SA (MT) Sees Strong Trading Volume
Shares of ArcelorMittal SA (NYSE:MT) saw strong trading volume on Friday . 18,849,624 shares were traded during mid-day trading, an increase of 14% from the previous session’s volume of 16,523,162 shares.The stock last traded at $6.02 and had previously closed at $5.97.
Several analysts have weighed in on the company. Berenberg Bank reiterated a “buy” rating on shares of ArcelorMittal SA in a research report on Sunday, May 29th. Barclays PLC set a €4.50 ($5.06) target price on ArcelorMittal SA and gave the company a “neutral” rating in a research note on Tuesday, May 10th. Nord/LB set a €4.00 ($4.49) target price on ArcelorMittal SA and gave the company a “neutral” rating in a research note on Thursday, May 19th. Citigroup Inc. raised ArcelorMittal SA from a “neutral” rating to a “buy” rating and boosted their target price for the company from $5.00 to $5.40 in a research note on Wednesday, June 1st. Finally, Vetr cut ArcelorMittal SA from a “strong-buy” rating to a “buy” rating and set a $5.70 target price on the stock. in a research note on Monday, July 11th. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and ten have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $5.24.
The firm’s 50-day moving average price is $6.11 and its 200-day moving average price is $5.15. The stock’s market cap is $18.47 billion.
ArcelorMittal SA (NYSE:MT) last issued its earnings results on Friday, July 29th. The company reported $0.38 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.03 by $0.35. During the same period last year, the firm earned $0.10 earnings per share. The firm had revenue of $14.74 billion for the quarter, compared to the consensus estimate of $15.23 billion. The company’s revenue for the quarter was down 12.7% on a year-over-year basis. On average, analysts forecast that ArcelorMittal SA will post $0.45 EPS for the current 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.
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.