ArcelorMittal SA (NYSE:MT) was the target of a significant increase in short interest in the month of September. As of September 15th, there was short interest totalling 40,827,768 shares, an increase of 31.9% from the August 31st total of 30,964,813 shares. Based on an average daily volume of 22,237,357 shares, the short-interest ratio is currently 1.8 days.
Shares of ArcelorMittal SA (NYSE:MT) opened at 6.04 on Friday. The firm has a 50 day moving average price of $6.03 and a 200 day moving average price of $5.39. The company’s market capitalization is $18.47 billion. ArcelorMittal SA has a one year low of $2.93 and a one year high of $6.94.
ArcelorMittal SA (NYSE:MT) last issued its quarterly earnings data on Friday, July 29th. The company reported $0.38 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.03 by $0.35. ArcelorMittal SA had a positive return on equity of 0.62% and a negative net margin of 11.61%. The company had revenue of $14.74 billion for the quarter, compared to the consensus estimate of $15.23 billion. During the same quarter last year, the business posted $0.10 earnings per share. The firm’s revenue was down 12.7% compared to the same quarter last year. On average, equities research analysts predict that ArcelorMittal SA will post ($0.05) EPS for the current fiscal year.
A number of research firms have recently issued reports on MT. Jefferies Group restated a “buy” rating on shares of ArcelorMittal SA in a research report on Friday. Zacks Investment Research cut ArcelorMittal SA from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 20th. Vetr upgraded ArcelorMittal SA from a “buy” rating to a “strong-buy” rating and set a $6.78 price target on the stock in a research report on Tuesday, September 13th. JPMorgan Chase & Co. upgraded ArcelorMittal SA from an “underweight” rating to a “neutral” rating and upped their price target for the company from $2.93 to $6.55 in a research report on Friday, August 19th. Finally, Clarkson Capital upgraded ArcelorMittal SA from a “neutral” rating to a “buy” rating in a research report on Tuesday, August 9th. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. ArcelorMittal SA presently has an average rating of “Hold” and an average target price of $5.28.
Large investors have recently modified their holdings of the company. Baird Financial Group Inc. increased its stake in shares of 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. Fifth Third Bancorp increased its stake in shares of ArcelorMittal SA by 70.0% in the second quarter. Fifth Third Bancorp now owns 21,760 shares of the company’s stock worth $101,000 after buying an additional 8,960 shares during the period. Rhumbline Advisers increased its stake in shares of ArcelorMittal SA by 45.1% in the second quarter. Rhumbline Advisers now owns 22,952 shares of the company’s stock worth $107,000 after buying an additional 7,133 shares during the period. Reynolds Capital Management LLC acquired a new stake in shares of ArcelorMittal SA during the first quarter worth about $106,000. Finally, Cypress Wealth Advisors LLC increased its stake in shares of 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. Institutional investors own 3.88% of the company’s stock.
ArcelorMittal SA Company Profile
ArcelorMittal SA (ArcelorMittal) is a holding company. The Company is an integrated steel and mining company. ArcelorMittal operates through five segments: NAFTA; Europe; Brazil; Africa and Commonwealth of Independent States (ACIS), and Mining. The NAFTA segment produces flat, long and tubular products.
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