Rating Alert: Is RBC Capital Very Positive For ArcelorMittal (NYSE:MT) After Its Upgrade?

November 25, 2016 - By Ellis Scott

Rating Alert:  Is RBC Capital Very Positive For ArcelorMittal (NYSE:MT) After Its Upgrade?

ArcelorMittal (NYSE:MT) Upgrade

New York-listed ArcelorMittal (NYSE:MT), was upped by equity analysts at RBC Capital. The firm upped its rating on the $23.10B market cap company to a “Outperform” from a previous “Sector Perform”.

ArcelorMittal SA (ADR) (NYSE:MT) Ratings Coverage

Out of 13 analysts covering Arcelormittal (NYSE:MT), 7 rate it a “Buy”, 0 “Sell”, while 6 “Hold”. This means 54% are positive. $13 is the highest target while $3 is the lowest. The $5.08 average target is -33.25% below today’s ($7.61) stock price. Arcelormittal has been the topic of 31 analyst reports since July 21, 2015 according to StockzIntelligence Inc. Jefferies upgraded the stock to “Buy” rating in Wednesday, April 20 report. Credit Suisse upgraded it to “Outperform” rating and $7.50 target price in Wednesday, April 13 report. The rating was upgraded by ABN Amro on Wednesday, August 5 to “Buy”. The firm has “Buy” rating given on Tuesday, April 12 by Goldman Sachs. JP Morgan upgraded the shares of MT in a report on Friday, August 19 to “Neutral” rating. The rating was downgraded by Jefferies on Wednesday, January 13 to “Underperform”. The firm earned “Neutral” rating on Wednesday, December 2 by Citigroup. Berenberg initiated ArcelorMittal SA (ADR) (NYSE:MT) on Wednesday, October 14 with “Buy” rating. JP Morgan upgraded ArcelorMittal SA (ADR) (NYSE:MT) on Friday, October 9 to “Overweight” rating. The stock of ArcelorMittal SA (ADR) (NYSE:MT) earned “Neutral” rating by JP Morgan on Tuesday, February 9.

The stock increased 0.66% or $0.05 during the last trading session, hitting $7.61. About 7.60M shares traded hands. ArcelorMittal SA (ADR) (NYSE:MT) has risen 33.10% since April 22, 2016 and is uptrending. It has outperformed by 27.69% 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 $394.61M for 14.63 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 S.A. is a holding company. The company has a market cap of $23.10 billion. The Firm is an integrated steel and mining company. It currently has negative earnings. ArcelorMittal operates through five divisions: NAFTA; Europe; Brazil; Africa and Commonwealth of Independent States (ACIS), and Mining.

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.”

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.

More news for ArcelorMittal SA (ADR) (NYSE:MT) were recently published by: Fool.com, which released: “ArcelorMittal SA (ADR) Stock Weighted Down by Capital-Raising Plans” on February 05, 2016. Investorplace.com‘s article titled: “Bull of the Day: ArcelorMittal SA (ADR) (MT)” and published on August 02, 2016 is yet another important article.

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