Latest Stocks: ArcelorMittal SA (MT) to Post FY2018 Earnings of $0.99 Per Share, Jefferies Group Forecasts

Latest Stocks: ArcelorMittal SA (MT) to Post FY2018 Earnings of $0.99 Per Share, Jefferies Group Forecasts

A number of other brokerages also recently weighed in on MT. Goldman Sachs Group Inc raised shares of ArcelorMittal SA from a “neutral” rating to a “conviction-buy” rating in a research note on Thursday, February 2nd. Bank of America Corp raised shares of ArcelorMittal SA from a “neutral” rating to a “buy” rating in a research note on Friday, February 10th. JPMorgan Chase & Co. raised shares of ArcelorMittal SA from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $8.40 to $8.44 in a research note on Friday, March 31st. Credit Suisse Group AG set a $15.00 target price on shares of ArcelorMittal SA and gave the stock a “buy” rating in a research note on Saturday, March 25th. Finally, Cowen and Company raised shares of ArcelorMittal SA from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $10.00 to $11.00 in a research note on Thursday, March 23rd. They noted that the move was a valuation call. Two investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. ArcelorMittal SA currently has an average rating of “Buy” and an average price target of $8.76.

ArcelorMittal SA (NYSE:MT) – Jefferies Group boosted their FY2018 earnings per share estimates for ArcelorMittal SA in a report issued on Monday. Jefferies Group analyst S. Rosenfeld now forecasts that the basic materials company will post earnings of $0.99 per share for the year, up from their prior forecast of $0.90. Jefferies Group currently has a “Buy” rating and a $10.50 price target on the stock.

A number of other brokerages also recently weighed in on MT. Goldman Sachs Group Inc raised shares of ArcelorMittal SA from a “neutral” rating to a “conviction-buy” rating in a research note on Thursday, February 2nd. Bank of America Corp raised shares of ArcelorMittal SA from a “neutral” rating to a “buy” rating in a research note on Friday, February 10th. JPMorgan Chase & Co. raised shares of ArcelorMittal SA from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $8.40 to $8.44 in a research note on Friday, March 31st. Credit Suisse Group AG set a $15.00 target price on shares of ArcelorMittal SA and gave the stock a “buy” rating in a research note on Saturday, March 25th. Finally, Cowen and Company raised shares of ArcelorMittal SA from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $10.00 to $11.00 in a research note on Thursday, March 23rd. They noted that the move was a valuation call. Two investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. ArcelorMittal SA currently has an average rating of “Buy” and an average price target of $8.76. Shares of ArcelorMittal SA (NYSE:MT) traded down 2.9244% during trading on Tuesday, hitting $7.4457. 8,853,358 shares of the stock traded hands. The firm has a market capitalization of $22.77 billion, a price-to-earnings ratio of 12.0092 and a beta of 2.06. ArcelorMittal SA has a 1-year low of $4.18 and a 1-year high of $9.37. The firm has a 50-day moving average of $7.84 and a 200-day moving average of $7.97. Shares of ArcelorMittal SA are scheduled to reverse split on Monday, May 22nd. The 1-3 reverse split was announced on Thursday, May 11th. The number of shares owned by shareholders will be adjusted after the closing bell on Friday, May 19th.

ArcelorMittal SA (NYSE:MT) last announced its quarterly earnings results on Friday, May 12th. The basic materials company reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.06. ArcelorMittal SA had a net margin of 3.13% and a return on equity of 6.88%. The company had revenue of $16.09 billion during the quarter, compared to analyst estimates of $16.81 billion. During the same quarter in the previous year, the business earned ($0.23) EPS. The firm’s revenue was up 20.1% on a year-over-year basis. Hedge funds and other institutional investors have recently modified their holdings of the stock. Geode Capital Management LLC acquired a new position in shares of ArcelorMittal SA during the first quarter worth about $110,000. Baird Financial Group Inc. boosted its position in shares of ArcelorMittal SA by 15.8% in the fourth quarter. Baird Financial Group Inc. now owns 16,715 shares of the basic materials company’s stock worth $122,000 after buying an additional 2,286 shares in the last quarter. Iron Financial LLC boosted its position in shares of ArcelorMittal SA by 50.0% in the first quarter. Iron Financial LLC now owns 15,000 shares of the basic materials company’s stock worth $125,000 after buying an additional 5,000 shares in the last quarter. US Bancorp DE boosted its position in shares of ArcelorMittal SA by 14.2% in the first quarter. US Bancorp DE now owns 15,540 shares of the basic materials company’s stock worth $129,000 after buying an additional 1,934 shares in the last quarter. Finally, Scotia Capital Inc. acquired a new position in shares of ArcelorMittal SA during the fourth quarter worth about $137,000. Hedge funds and other institutional investors own 3.46% of the company’s stock.

ArcelorMittal SA Company Profile ArcelorMittal SA (ArcelorMittal) is a holding company. The Company, together with its subsidiaries, owns and operates steel manufacturing and mining facilities in Europe, North and South America, Asia and Africa. ArcelorMittal operates through five segments, which include NAFTA; Europe; Brazil; Africa and Commonwealth of Independent States (ACIS), and Mining.

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