Trade Report: Today, ArcelorMittal SA (MT) Stock Rating Upgrade by Royal Bank Of Canada

Today, ArcelorMittal SA (MT) Stock Rating Upgrade by Royal Bank Of Canada

ArcelorMittal SA (NYSE:MT) was upgraded by equities researchers at Royal Bank Of Canada from a “sector perform” rating to an “outperform” rating in a research report issued to clients and investors on Friday.

A number of other research firms also recently weighed in on MT. Credit Suisse Group AG set a $10.00 price target on shares of ArcelorMittal SA and gave the stock a “buy” rating in a research report on Saturday, October 1st. Cowen and Company raised their price target on shares of ArcelorMittal SA from $6.00 to $8.00 and gave the stock a “market perform” rating in a research report on Wednesday, August 3rd. Citigroup Inc. reissued a “buy” rating on shares of ArcelorMittal SA in a research report on Friday, October 7th. Vetr raised shares of ArcelorMittal SA from a “buy” rating to a “strong-buy” rating and set a $6.78 price target for the company in a research report on Tuesday, September 13th. Finally, Jefferies Group reaffirmed a “buy” rating on shares of ArcelorMittal SA in a report on Friday, September 30th. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. ArcelorMittal SA currently has a consensus rating of “Hold” and a consensus price target of $5.58.

ArcelorMittal SA (NYSE:MT) opened at 7.56 on Friday. The firm’s 50-day moving average is $6.79 and its 200-day moving average is $5.89. ArcelorMittal SA has a 12 month low of $2.93 and a 12 month high of $7.69. The stock’s market cap is $23.13 billion.

ArcelorMittal SA (NYSE:MT) last released its quarterly earnings results on Tuesday, November 8th. The company reported $0.22 earnings per share for the quarter, topping analysts’ consensus estimates of $0.18 by $0.04. ArcelorMittal SA had a negative net margin of 9.37% and a positive return on equity of 4.14%. The business earned $14.52 billion during the quarter, compared to the consensus estimate of $15.59 million. During the same quarter last year, the company earned ($0.09) earnings per share. The business’s quarterly revenue was down 1.5% compared to the same quarter last year. On average, equities analysts forecast that ArcelorMittal SA will post $0.44 earnings per share for the current fiscal year.

A number of institutional investors have recently modified their holdings of MT. Quantitative Investment Management LLC boosted its position in shares of ArcelorMittal SA by 49.1% in the second quarter. Quantitative Investment Management LLC now owns 260,100 shares of the company’s stock worth $1,212,000 after buying an additional 85,700 shares in the last quarter. Mckinley Capital Management LLC Delaware bought a new position in shares of ArcelorMittal SA during the second quarter worth $650,000. Princeton Alpha Management LP bought a new position in shares of ArcelorMittal SA during the second quarter worth $156,000. Jennison Associates LLC boosted its position in shares of ArcelorMittal SA by 286.4% in the second quarter. Jennison Associates LLC now owns 103,515 shares of the company’s stock worth $482,000 after buying an additional 76,722 shares in the last quarter. Finally, PNC Financial Services Group Inc. boosted its position in shares of 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 in the last quarter. 3.80% of the stock is currently owned by hedge funds and other institutional investors.

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