Citigroup Inc. Reiterates Buy Rating for ArcelorMittal SA (MT)
ArcelorMittal SA (NYSE:MT)‘s stock had its “buy” rating reaffirmed by equities research analysts at Citigroup Inc. in a report released on Friday.
Other research analysts have also recently issued research reports about the company. Credit Suisse Group AG set a $10.00 price target on ArcelorMittal SA and gave the company a “buy” rating in a research report on Saturday, October 1st. Vetr cut ArcelorMittal SA from a “buy” rating to a “hold” rating and set a $5.70 price target for the company. in a research report on Monday, July 25th. Jefferies Group restated a “buy” rating on shares of ArcelorMittal SA in a research report on Wednesday, August 3rd. TheStreet upgraded ArcelorMittal SA from a “sell” rating to a “hold” rating in a research report on Friday, July 29th. Finally, Clarkson Capital upgraded ArcelorMittal SA from a “neutral” rating to a “buy” rating in a research report on Tuesday, August 9th. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $5.40.
Shares of ArcelorMittal SA (NYSE:MT) traded up 1.79% during mid-day trading on Friday, reaching $6.24. 8,772,889 shares of the company traded hands. The stock’s market capitalization is $19.08 billion. The company’s 50 day moving average is $6.01 and its 200 day moving average is $5.44. ArcelorMittal SA has a 52-week low of $2.93 and a 52-week high of $6.94.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/10/07/citigroup-inc-reiterates-buy-rating-for-arcelormittal-sa-mt.html
ArcelorMittal SA (NYSE:MT) last announced its quarterly earnings results on Friday, July 29th. The company reported $0.38 earnings per share for the quarter, beating analysts’ consensus estimates of $0.03 by $0.35. ArcelorMittal SA had a positive return on equity of 0.62% and a negative net margin of 11.61%. The business earned $14.74 billion during the quarter, compared to analysts’ expectations of $15.23 billion. During the same quarter last year, the business posted $0.10 earnings per share. The business’s revenue for the quarter was down 12.7% on a year-over-year basis. On average, equities analysts forecast that ArcelorMittal SA will post ($0.05) earnings per share for the current year.
A number of large investors have recently bought and sold shares of MT. Baird Financial Group Inc. increased its stake in ArcelorMittal SA by 7.9% in the second quarter. Baird Financial Group Inc. now owns 19,609 shares of the company’s stock valued at $112,000 after buying an additional 1,440 shares in the last quarter. Fifth Third Bancorp increased its stake in ArcelorMittal SA by 70.0% in the second quarter. Fifth Third Bancorp now owns 21,760 shares of the company’s stock valued at $101,000 after buying an additional 8,960 shares in the last quarter. Rhumbline Advisers increased its stake in ArcelorMittal SA by 45.1% in the second quarter. Rhumbline Advisers now owns 22,952 shares of the company’s stock valued at $107,000 after buying an additional 7,133 shares in the last quarter. Reynolds Capital Management LLC acquired a new stake in ArcelorMittal SA during the first quarter valued at about $106,000. Finally, Cypress Wealth Advisors LLC increased its stake in ArcelorMittal SA by 4.8% in the first quarter. Cypress Wealth Advisors LLC now owns 23,763 shares of the company’s stock valued at $109,000 after buying an additional 1,089 shares in the last quarter. Institutional investors own 3.88% of the company’s stock.
ArcelorMittal SA Company Profile
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.
Receive News & Ratings for ArcelorMittal SA Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ArcelorMittal SA and related companies with MarketBeat.com's FREE daily email newsletter.