ARCELORMITTAL SA (MT) RECEIVES “BUY” RATING FROM BERENBERG BANK
May 30, 2016 Mark Robinson
ArcelorMittal SA (MT) Receives “Buy” Rating from Berenberg Bank
ArcelorMittal SA logoArcelorMittal SA (NYSE:MT)‘s stock had its “buy” rating reaffirmed by equities research analysts at Berenberg Bank in a report released on Sunday.
ArcelorMittal SA (NYSE:MT) opened at 4.72 on Friday. ArcelorMittal SA has a one year low of $2.93 and a one year high of $11.67. The stock’s market capitalization is $8.46 billion. The company’s 50-day moving average is $5.14 and its 200 day moving average is $4.42.
ArcelorMittal SA (NYSE:MT) last released its quarterly earnings results on Friday, May 6th. The company reported ($0.23) EPS for the quarter, missing the consensus estimate of ($0.20) by $0.03. The firm had revenue of $13.40 billion for the quarter, compared to analyst estimates of $14.25 billion. The business’s revenue was down 21.7% on a year-over-year basis. During the same period in the prior year, the company earned ($0.41) EPS. Equities analysts expect that ArcelorMittal SA will post $0.03 EPS for the current year.
A number of institutional investors have recently added to or reduced their stakes in the company. Federated Investors Inc. PA purchased a new position in ArcelorMittal SA during the fourth quarter worth approximately $5,868,000. Babson Capital Management LLC bought a new stake in shares of ArcelorMittal SA during the first quarter worth about $369,000. Creative Planning boosted its stake in shares of ArcelorMittal SA by 88.6% in the first quarter. Creative Planning now owns 702,574 shares of the company’s stock worth $3,218,000 after buying an additional 330,115 shares during the last quarter. Price T Rowe Associates Inc. MD bought a new stake in shares of ArcelorMittal SA during the fourth quarter worth about $2,762,000. Finally, Morgan Stanley boosted its stake in shares of ArcelorMittal SA by 8.9% in the fourth quarter. Morgan Stanley now owns 8,505,451 shares of the company’s stock worth $35,893,000 after buying an additional 695,850 shares during the last quarter.
Other equities analysts have also issued research reports about the stock. JPMorgan Chase & Co. lowered shares of ArcelorMittal SA from an “overweight” rating to a “neutral” rating in a research report on Monday, February 8th. Credit Suisse raised shares of ArcelorMittal SA from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $6.00 to $7.50 in a report on Wednesday, April 13th. Jefferies Group set a €4.00 ($4.49) price objective on shares of ArcelorMittal SA and gave the stock a “neutral” rating in a report on Monday, March 7th. Independent Research GmbH set a €2.80 ($3.15) price objective on shares of ArcelorMittal SA and gave the stock a “sell” rating in a report on Tuesday, February 9th. Finally, Commerzbank AG set a €5.00 ($5.62) price objective on shares of ArcelorMittal SA and gave the stock a “neutral” rating in a report on Friday, May 6th. Four equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $4.84.