ArcelorMittal SA (MT) Cut to Neutral at Goldman Sachs Group Inc.
ArcelorMittal SA (NYSE:MT) was downgraded by investment analysts at Goldman Sachs Group Inc. from a “buy” rating to a “neutral” rating in a note issued to investors on Thursday.
Several other equities research analysts also recently weighed in on MT. Credit Suisse Group AG set a $10.00 target price on shares of ArcelorMittal SA and gave the stock a “buy” rating in a research note on Saturday, October 1st. Vetr cut shares of ArcelorMittal SA from a “strong-buy” rating to a “buy” rating and set a $5.70 price target for the company. in a report on Monday, July 11th. Citigroup Inc. reissued a “buy” rating on shares of ArcelorMittal SA in a report on Friday, October 7th. Jefferies Group reissued a “buy” rating on shares of ArcelorMittal SA in a report on Friday, September 30th. Finally, TheStreet raised shares of ArcelorMittal SA from a “sell” rating to a “hold” rating in a report on Friday, July 29th. Two research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $5.40.
Shares of ArcelorMittal SA (NYSE:MT) traded down 3.16% on Thursday, hitting $6.12. The stock had a trading volume of 3,492,296 shares. ArcelorMittal SA has a one year low of $2.93 and a one year high of $6.59. The stock’s market cap is $18.71 billion. The company’s 50 day moving average is $6.00 and its 200 day moving average is $5.50.
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ArcelorMittal SA (NYSE:MT) last announced its earnings results on Friday, July 29th. The company reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.35. ArcelorMittal SA had a negative net margin of 11.61% and a positive return on equity of 0.62%. The business earned $14.74 billion during the quarter, compared to the consensus estimate of $15.23 billion. During the same quarter in the prior year, the firm earned $0.10 earnings per share. The business’s quarterly revenue was down 12.7% compared to the same quarter last year. Equities research analysts predict that ArcelorMittal SA will post ($0.05) EPS for the current fiscal year.
Institutional investors have recently bought and sold shares of the stock. Fifth Third Bancorp raised its position 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 during the last quarter. Reynolds Capital Management LLC acquired a new position in ArcelorMittal SA during the first quarter valued at $106,000. Rhumbline Advisers raised its position 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 during the last quarter. Cypress Wealth Advisors LLC raised its position 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 during the last quarter. Finally, Baird Financial Group Inc. raised its position 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 during the last quarter. Institutional investors and hedge funds 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.
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