Trading Report: The ArcelorMittal SA (MT) gets Neutral status at Goldman Sachs Group Inc.

The ArcelorMittal SA (MT) gets Neutral status at Goldman Sachs Group Inc.

Goldman Sachs Group Inc. cut shares of ArcelorMittal SA (NYSE:MT) from a buy rating to a neutral rating in a research note released on Thursday morning.

A number of other brokerages have also commented on MT. JPMorgan Chase & Co. raised shares of ArcelorMittal SA from an underweight rating to a neutral rating and boosted their price objective for the stock from $2.93 to $6.55 in a research report on Friday, August 19th. Clarkson Capital raised shares of ArcelorMittal SA from a neutral rating to a buy rating in a research report on Tuesday, August 9th. TheStreet raised shares of ArcelorMittal SA from a sell rating to a hold rating in a research report on Friday, July 29th. Vetr reissued a hold rating and issued a $5.90 price objective on shares of ArcelorMittal SA in a research report on Monday, August 15th. Finally, Citigroup Inc. reissued a buy rating on shares of ArcelorMittal SA in a research report on Friday, October 7th. Two investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. ArcelorMittal SA has an average rating of Hold and a consensus target price of $5.40.

ArcelorMittal SA (NYSE:MT) traded up 0.634% during mid-day trading on Thursday, reaching $6.189. 5,913,688 shares of the company’s stock traded hands. The firm’s market cap is $18.92 billion. The firm has a 50 day moving average of $6.00 and a 200 day moving average of $5.50. ArcelorMittal SA has a 1-year low of $2.93 and a 1-year high of $6.59.

ArcelorMittal SA (NYSE:MT) last announced its quarterly earnings data on Friday, July 29th. The company reported $0.38 EPS for the quarter, topping the Zacks’ consensus estimate of $0.03 by $0.35. The business had revenue of $14.74 billion for the quarter, compared to analyst estimates of $15.23 billion. ArcelorMittal SA had a negative net margin of 11.61% and a positive return on equity of 0.62%. The firm’s revenue for the quarter was down 12.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.10 earnings per share. Analysts forecast that ArcelorMittal SA will post ($0.05) EPS for the current year.

Hedge funds and other institutional investors have recently bought and sold shares of the company. PNC Financial Services Group Inc. boosted its position in ArcelorMittal SA by 0.3% in the second quarter. PNC Financial Services Group Inc. now owns 110,418 shares of the company’s stock worth $515,000 after buying an additional 288 shares during the period. Highland Capital Management LLC boosted its position in ArcelorMittal SA by 0.7% in the third quarter. Highland Capital Management LLC now owns 45,035 shares of the company’s stock worth $272,000 after buying an additional 300 shares during the period. Cypress Wealth Advisors LLC boosted 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 worth $109,000 after buying an additional 1,089 shares during the period. Baird Financial Group Inc. boosted 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 worth $112,000 after buying an additional 1,440 shares during the period. Finally, Wetherby Asset Management Inc. boosted its position in ArcelorMittal SA by 5.6% in the second quarter. Wetherby Asset Management Inc. now owns 35,960 shares of the company’s stock worth $168,000 after buying an additional 1,907 shares during the period. 3.88% of the stock is owned by hedge funds and other institutional investors.

ArcelorMittal SA Company Profile

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