ArcelorMittal Stock Rating Lowered by UBS AG (MT)
ArcelorMittal (NYSE:MT) was downgraded by equities researchers at UBS AG from a “neutral” rating to a “sell” rating in a research report issued on Monday, TheFlyOnTheWall.com reports. The analysts noted that the move was a valuation call.
ArcelorMittal (NYSE:MT) traded up 0.94% on Monday, hitting $16.09. The stock had a trading volume of 5,568,520 shares. ArcelorMittal has a one year low of $10.83 and a one year high of $17.99. The stock has a 50-day moving average of $14.25 and a 200-day moving average of $12.93. The company’s market cap is $26.613 billion.
ArcelorMittal (NYSE:MT) last released its earnings data on Thursday, August 1st. The company reported ($0.44) EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.09 by $0.53. The company had revenue of $20.20 billion for the quarter, compared to the consensus estimate of $20.70 million. During the same quarter in the prior year, the company posted $0.62 earnings per share. The company’s quarterly revenue was down 10.1% on a year-over-year basis.
MT has been the subject of a number of other recent research reports. Analysts at Deutsche Bank upgraded shares of ArcelorMittal from a “hold” rating to a “buy” rating in a research note to investors on Monday. They now have a $19.00 price target on the stock, up previously from $13.50. Separately, analysts at Macquarie upgraded shares of ArcelorMittal from a “neutral” rating to an “outperform” rating in a research note to investors on Monday, October 14th. Finally, analysts at RBC Capital downgraded shares of ArcelorMittal from an “outperform” rating to a “sector perform” rating in a research note to investors on Friday, September 20th. Four research analysts have rated the stock with a sell rating, seven have given a hold rating and eight have issued a buy rating to the company. ArcelorMittal presently has an average rating of “Hold” and a consensus price target of $15.50.
ArcelorMittal is a global steel producer. The Company has steel-making operations in 20 countries on four continents, including 65 integrated, mini-mill and integrated mini-mill steel-making facilities.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.