ArcelorMittal (MT) Announces Quarterly Results
ArcelorMittal (NYSE:MT) announced its earnings results on Friday. The company reported ($0.69) earnings per share for the quarter, Stock Ratings Network reports. The company had revenue of $19.85 billion for the quarter, compared to the consensus estimate of $19.31 billion.
A number of research firms have recently commented on MT. Analysts at HSBC upgraded shares of ArcelorMittal from a “neutral” rating to an “overweight” rating in a research note to investors on Wednesday. On the ratings front, analysts at RBC Capital upgraded shares of ArcelorMittal from a “sector perform” rating to an “outperform” rating in a research note to investors on Tuesday, January 28th. They now have a $16.00 price target on the stock, up previously from $11.00. Finally, analysts at Deutsche Bank raised their price target on shares of ArcelorMittal from $19.00 to $19.50 in a research note to investors on Wednesday, December 18th. They now have a “buy” rating on the stock. Six analysts have rated the stock with a sell rating, three have given a hold rating and nine have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $18.88.
ArcelorMittal (NYSE:MT) opened at 17.05 on Friday. ArcelorMittal has a 52 week low of $10.83 and a 52 week high of $17.92. The stock has a 50-day moving average of $17.02 and a 200-day moving average of $15.37. The company’s market cap is $30.485 billion.
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.
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