The stock of ArcelorMittal SA (ADR) (NYSE:MT) hit a new 52-week high and has $8.35 target or 8.00% above today’s $7.73 share price. The 6 months bullish chart indicates low risk for the $24.08B company. The 1-year high was reported on Dec, 1 by Barchart.com. If the $8.35 price target is reached, the company will be worth $1.93 billion more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 3.07 million shares traded hands. ArcelorMittal SA (ADR) (NYSE:MT) has risen 34.46% since April 28, 2016 and is uptrending. It has outperformed by 28.53% the S&P500.
Analysts await ArcelorMittal SA (ADR) (NYSE:MT) to report earnings on February, 3. They expect $0.13 earnings per share, up 165.00% or $0.33 from last year’s $-0.2 per share. MT’s profit will be $404.97 million for 14.87 P/E if the $0.13 EPS becomes a reality. After $0.22 actual earnings per share reported by ArcelorMittal SA (ADR) for the previous quarter, Wall Street now forecasts -40.91% negative EPS growth.
ArcelorMittal SA (ADR) (NYSE:MT) Ratings Coverage
Out of 13 analysts covering Arcelormittal (NYSE:MT), 8 rate it a “Buy”, 0 “Sell”, while 5 “Hold”. This means 62% are positive. $13 is the highest target while $3 is the lowest. The $5.08 average target is -34.28% below today’s ($7.73) stock price. Arcelormittal has been the topic of 32 analyst reports since July 21, 2015 according to StockzIntelligence Inc. The stock has “Buy” rating given by Berenberg on Wednesday, October 14. The firm has “Neutral” rating given on Friday, October 23 by Credit Suisse. The stock of ArcelorMittal SA (ADR) (NYSE:MT) has “Outperform” rating given on Friday, November 25 by RBC Capital Markets. The rating was upgraded by Goldman Sachs on Tuesday, April 12 to “Buy”. RBC Capital Markets downgraded the shares of MT in a report on Friday, December 18 to “Sector Perform” rating. The rating was upgraded by JP Morgan on Friday, August 19 to “Neutral”. Jefferies upgraded ArcelorMittal SA (ADR) (NYSE:MT) on Monday, March 7 to “Hold” rating. The stock of ArcelorMittal SA (ADR) (NYSE:MT) earned “Neutral” rating by Bank of America on Tuesday, November 8. The firm has “Neutral” rating by JP Morgan given on Thursday, August 27. The stock has “Overweight” rating given by Morgan Stanley on Thursday, March 10.
According to Zacks Investment Research, “ArcelorMittal (MT) is the world’s leading steel and mining company. With a presence in more than 60 countries, it operates a balanced portfolio of cost competitive steel plants across both the developed and developing world. It is the leader in all the main sectors automotive, household appliances, packaging and construction. The company is also the world’s fourth largest producer of iron ore, with a global portfolio of 16 operating units with mines in operation or development.”
Another recent and important ArcelorMittal SA (ADR) (NYSE:MT) news was published by Schaeffersresearch.com which published an article titled: “Buzz Stocks: Honeywell International Inc., ArcelorMittal SA (ADR), and Silicon …” on October 07, 2016.
MT Company Profile
ArcelorMittal S.A. (ArcelorMittal), incorporated on June 21, 2001, is a holding company. The Firm is an integrated steel and mining company. ArcelorMittal operates through five divisions: NAFTA; Europe; Brazil; Africa and Commonwealth of Independent States (ACIS), and Mining. It produces a range of finished and semi-finished steel products (semis). ArcelorMittal produces flat steel products, including sheet and plate, and long steel products, including bars, rods and structural shapes. In addition, ArcelorMittal produces pipes and tubes for various applications.
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