Brokerages Set ArcelorMittal SA (NYSE:MT) Target Price at $8.96
Posted by Kristine Brees on Jan 24th, 2016 // No Comments
ArcelorMittal SA logoArcelorMittal SA (NYSE:MT) has received an average recommendation of “Hold” from the twenty analysts that are currently covering the company, MarketBeat Ratings reports. Four research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have assigned a buy rating to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $8.96.
Several brokerages recently issued reports on MT. JPMorgan Chase & Co. upgraded ArcelorMittal SA from a “neutral” rating to an “overweight” rating in a report on Friday, October 9th. Berenberg Bank started coverage on ArcelorMittal SA in a report on Wednesday, October 14th. They set a “buy” rating on the stock. Credit Suisse cut their target price on ArcelorMittal SA from $10.50 to $9.00 in a report on Wednesday, October 7th. Jefferies Group cut their target price on ArcelorMittal SA to $7.00 and set a “hold” rating on the stock in a report on Tuesday, October 20th. Finally, Citigroup Inc. upgraded ArcelorMittal SA from a “sell” rating to a “buy” rating in a report on Monday, October 5th.
Shares of ArcelorMittal SA (NYSE:MT) opened at 3.57 on Thursday. The firm’s 50-day moving average price is $3.90 and its 200 day moving average price is $6.25. The firm’s market cap is $6.41 billion. ArcelorMittal SA has a 52 week low of $3.25 and a 52 week high of $11.95.
ArcelorMittal SA (NYSE:MT) last announced its quarterly earnings data on Friday, November 6th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.02) by $0.19. The company earned $15.60 billion during the quarter, compared to analyst estimates of $15.71 billion. During the same period last year, the company posted $0.01 EPS. Equities analysts anticipate that ArcelorMittal SA will post ($0.71) EPS for the current year.
ArcelorMittal SA (NYSE:MT) is a holding company. The Company is a steel and mining company, which operates through five segments: NAFTA; Europe; Brazil; Africa and Commonwealth of Independent States (ACIS), and Mining. The Company produces a range of finished and semi-finished steel products. Specifically, it produces flat steel products, including sheet and plate, and long steel products, including bars, rods and structural shapes. In addition, the Company produces pipes and tubes for various applications. The Company also produces various types of mining products, including iron ore lump, fines, concentrate and sinter feed, as well as coking, pulverized coal injection (PCI) and thermal coal. The Company’s subsidiaries include ArcelorMittal Dofasco Inc., ArcelorMittal Montreal Inc., ArcelorMittal Point Lisas Ltd., ArcelorMittal Belgium N.V. and ArcelorMittal South Africa Ltd., among others.