Several brokerages have updated their recommendations and price targets on shares of ArcelorMittal SA (NYSE: MT) in the last few weeks:
- 10/1/2016 – ArcelorMittal SA was given a new $10.00 price target on by analysts at Credit Suisse Group AG. They now have a “buy” rating on the stock.
- 9/30/2016 – ArcelorMittal SA had its “buy” rating reaffirmed by analysts at Jefferies Group.
- 9/20/2016 – ArcelorMittal SA was downgraded by analysts at Zacks Investment Research from a “strong-buy” rating to a “hold” rating. According to Zacks, “Estimates for ArcelorMittal have been stable of late. ArcelorMittal remains highly focused on reducing debt, lowering costs and improving efficiency. Moreover, it is looking to sell its non-core assets and increase focus on important operations. However, ArcelorMittal continues to contend with soft economic conditions in Europe and China, volatility in steel prices and tough competition. Moreover, China, which has built up a massive excess steel capacity, still remains a concern.”
- 9/13/2016 – ArcelorMittal SA was upgraded by analysts at Vetr from a “buy” rating to a “strong-buy” rating. They now have a $6.78 price target on the stock.
- 8/19/2016 – ArcelorMittal SA was upgraded by analysts at JPMorgan Chase & Co. from an “underweight” rating to a “neutral” rating. They now have a $6.55 price target on the stock, up previously from $2.93.
- 8/15/2016 – ArcelorMittal SA had its “hold” rating reaffirmed by analysts at Vetr. They now have a $5.90 price target on the stock.
- 8/9/2016 – ArcelorMittal SA was upgraded by analysts at Clarkson Capital from a “neutral” rating to a “buy” rating.
Shares of ArcelorMittal SA (NYSE:MT) traded down 1.64% during midday trading on Tuesday, hitting $5.99. The company had a trading volume of 17,144,438 shares. ArcelorMittal SA has a one year low of $2.93 and a one year high of $6.94. The stock’s 50-day moving average price is $6.02 and its 200-day moving average price is $5.43. The stock’s market capitalization is $18.32 billion.
ArcelorMittal SA (NYSE:MT) last posted its quarterly earnings results 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 positive return on equity of 0.62% and a negative net margin of 11.61%. The company earned $14.74 billion during the quarter, compared to analysts’ expectations of $15.23 billion. During the same quarter in the previous year, the firm earned $0.10 EPS. ArcelorMittal SA’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.
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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