Morningstar Gives “BB+” Credit Rating to ArcelorMittal SA (MT)
ArcelorMittal SA (NYSE:MT) has been given a “BB+” credit rating by Morningstar. The agency’s “BB+” rating suggests that the company is an above-average default risk. They also issued a positive credit outlook for the company and gave their stock a four star rating.
Several other analysts have also recently commented on the stock. 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. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the stock. ArcelorMittal SA currently has a consensus rating of “Hold” and a consensus target price of $19.00.
ArcelorMittal SA (NYSE:MT) opened at 14.56 on Tuesday. ArcelorMittal SA has a 1-year low of $13.22 and a 1-year high of $17.92. The stock’s 50-day moving average is $14.52 and its 200-day moving average is $15.38. The company’s market cap is $24.082 billion.
ArcelorMittal SA (NYSE:MT) last issued its earnings data on Friday, August 1st. The company reported $0.03 EPS for the quarter, missing the Thomson Reuters 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 in the prior year, the company posted ($0.44) earnings per share. The company’s quarterly revenue was down 47.0% on a year-over-year basis. Analysts expect that ArcelorMittal SA will post $0.57 EPS for the current fiscal year.
ArcelorMittal SA (NYSE:MT) is a global steel producer.
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