FY2017 EPS ESTIMATES FOR ARCELORMITTAL SA (MT) INCREASED BY JEFFERIES GROUP
May 11, 2016 Mark Robinson
FY2017 EPS Estimates for ArcelorMittal SA (MT) Increased by Jefferies Group
ArcelorMittal SA logoArcelorMittal SA (NYSE:MT) – Stock analysts at Jefferies Group increased their FY2017 earnings per share estimates for shares of ArcelorMittal SA in a research note issued on Monday, Zacks Investment Research reports. Jefferies Group analyst S. Rosenfeld now forecasts that the brokerage will earn $0.42 per share for the year, up from their previous estimate of $0.30. Jefferies Group has a “Buy” rating and a $7.00 price target on the stock. The consensus estimate for ArcelorMittal SA’s FY2017 earnings is $0.14 per share.
A number of other equities research analysts also recently commented on MT. Zacks Investment Research downgraded shares of ArcelorMittal SA from a “buy” rating to a “hold” rating in a research report on Saturday, January 16th. Goldman Sachs downgraded shares of ArcelorMittal SA from a “conviction-buy” rating to a “buy” rating in a research report on Friday, January 22nd. Credit Suisse dropped their target price on shares of ArcelorMittal SA from $5.50 to $4.50 in a research report on Wednesday, January 27th. JPMorgan Chase & Co. downgraded shares of ArcelorMittal SA from an “overweight” rating to a “neutral” rating in a research report on Monday, February 8th. Finally, Deutsche Bank dropped their target price on shares of ArcelorMittal SA from $5.00 to $4.50 and set a “hold” rating on the stock in a research report on Monday, February 8th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. ArcelorMittal SA currently has a consensus rating of “Hold” and an average price target of $6.40.
ArcelorMittal SA (NYSE:MT) traded down 0.40% on Wednesday, hitting $4.93. 11,783,646 shares of the company were exchanged. The firm has a 50 day moving average of $5.11 and a 200-day moving average of $4.50. ArcelorMittal SA has a 52-week low of $2.93 and a 52-week high of $11.95. The stock’s market cap is $8.17 billion.
ArcelorMittal SA (NYSE:MT) last posted its earnings results on Friday, May 6th. The company reported ($0.23) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.20) by $0.03. During the same quarter last year, the business earned ($0.41) earnings per share. The company had revenue of $13.40 billion for the quarter, compared to analysts’ expectations of $14.25 billion. ArcelorMittal SA’s revenue was down 21.7% on a year-over-year basis.
ArcelorMittal SA (NYSE:MT) is a holding company. The Company is a steel and mining company, which operates through five segments: NAFTA; Europe; Brazil; Africa and Commonwealth of Independent States (ACIS), and Mining. The Company produces a range of finished and semi-finished steel products.