ArcelorMittal SA Sees Significant Decrease in Short Interest (MT)
Shares of ArcelorMittal SA (NYSE:MT) were the recipient of a large decline in short interest in July. As of July 31st, there was short interest totalling 30,525,518 shares, a decline of 10.7% from the July 15th total of 34,194,390 shares, American Banking News reports. Currently, 0.0% of the company’s stock are sold short. Based on an average trading volume of 4,117,507 shares, the short-interest ratio is presently 7.4 days.
A number of research firms have recently commented on MT. Analysts at BNP Paribas upgraded shares of ArcelorMittal SA from an “underperform” rating to a “neutral” rating in a research note on Monday, August 4th. Separately, analysts at Deutsche Bank reiterated a “buy” rating on shares of ArcelorMittal SA in a research note on Monday, July 7th. They now have a $21.00 price target on the stock, down previously from $23.00. Finally, analysts at S&P Equity Research upgraded shares of ArcelorMittal SA to a “hold” rating in a research note on Friday, June 6th. Four research analysts have rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $19.00.
Shares of ArcelorMittal SA (NYSE:MT) opened at 13.76 on Monday. ArcelorMittal SA has a one year low of $12.72 and a one year high of $17.92. The stock’s 50-day moving average is $14.70 and its 200-day moving average is $15.55. The company’s market cap is $22.759 billion.
ArcelorMittal SA (NYSE:MT) last issued its quarterly earnings data on Friday, August 1st. The company reported $0.03 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.20 by $0.17. The company had revenue of $10.70 billion for the quarter, compared to the consensus estimate of $20.42 billion. During the same quarter last year, the company posted ($0.44) earnings per share. ArcelorMittal SA’s revenue was down 47.0% compared to the same quarter last year. On average, analysts predict that ArcelorMittal SA will post $0.57 earnings per share for the current fiscal year.
ArcelorMittal SA (NYSE:MT) is a global steel producer.
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