ArcelorMittal SA (MT) Lowered to “Neutral” at Goldman Sachs Group Inc.
ArcelorMittal SA (NYSE:MT) was downgraded by analysts at Goldman Sachs Group Inc. from a “buy” rating to a “neutral” rating in a note issued to investors on Thursday.
A number of other equities research analysts have also commented on MT. Credit Suisse Group AG set a $10.00 price objective on shares of ArcelorMittal SA and gave the stock a “buy” rating in a report on Saturday, October 1st. Vetr lowered shares of ArcelorMittal SA from a “strong-buy” rating to a “buy” rating and set a $5.70 price objective on the stock. 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 issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. ArcelorMittal SA has an average rating of “Hold” and an average price target of $5.40.
ArcelorMittal SA (NYSE:MT) traded down 3.32% on Thursday, hitting $6.11. 3,241,589 shares of the stock traded hands. The company’s 50 day moving average price is $6.00 and its 200-day moving average price is $5.50. The stock’s market capitalization is $18.68 billion. ArcelorMittal SA has a 12-month low of $2.93 and a 12-month high of $6.59.
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ArcelorMittal SA (NYSE:MT) last issued its quarterly earnings data on Friday, July 29th. The company reported $0.38 EPS for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $14.74 billion for the quarter, compared to analyst estimates of $15.23 billion. During the same quarter in the prior year, the firm earned $0.10 EPS. The company’s revenue was down 12.7% on a year-over-year basis. Analysts predict that ArcelorMittal SA will post ($0.05) EPS for the current year.
Several institutional investors have recently modified their holdings of MT. Cypress Wealth Advisors LLC boosted its position in shares of 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. UBS Group AG boosted its position in shares of ArcelorMittal SA by 16.1% in the first quarter. UBS Group AG now owns 885,981 shares of the company’s stock valued at $4,058,000 after buying an additional 123,132 shares in the last quarter. Edmond DE Rothschild Holding S.A. boosted its position in shares of ArcelorMittal SA by 101.6% in the first quarter. Edmond DE Rothschild Holding S.A. now owns 56,450 shares of the company’s stock valued at $259,000 after buying an additional 28,454 shares in the last quarter. Loomis Sayles & Co. L P acquired a new position in shares of ArcelorMittal SA during the first quarter valued at $78,715,000. Finally, Reynolds Capital Management LLC acquired a new position in shares of ArcelorMittal SA during the first quarter valued at $106,000. 3.88% of the stock is owned by institutional investors.
About ArcelorMittal SA
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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