ArcelorMittal (NYSE:MT) Releases Quarterly Earnings Results, Beats Estimates By $0.05 EPS

ArcelorMittal (NYSE:MT) posted its earnings results on Thursday. The basic materials company reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.05, Briefing.com reports. ArcelorMittal had a positive return on equity of 6.00% and a negative net margin of 0.93%. The business had revenue of $15.20 billion during the quarter, compared to analysts’ expectations of $15.11 billion. During the same period in the prior year, the business earned $1.10 EPS. ArcelorMittal’s revenue for the quarter was down 8.5% compared to the same quarter last year.

ArcelorMittal Stock Performance

Shares of MT opened at $26.09 on Friday. The stock has a market capitalization of $21.01 billion, a price-to-earnings ratio of -38.37, a PEG ratio of 0.55 and a beta of 1.77. ArcelorMittal has a 12 month low of $20.52 and a 12 month high of $29.01. The firm has a fifty day simple moving average of $24.24 and a 200 day simple moving average of $24.06. The company has a current ratio of 1.53, a quick ratio of 0.66 and a debt-to-equity ratio of 0.16.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on MT. Deutsche Bank Aktiengesellschaft raised shares of ArcelorMittal from a “hold” rating to a “buy” rating and increased their price objective for the stock from $29.00 to $31.00 in a research report on Wednesday, August 28th. Barclays upgraded ArcelorMittal from an “equal weight” rating to an “overweight” rating in a report on Monday, August 19th. Finally, JPMorgan Chase & Co. lowered ArcelorMittal from an “overweight” rating to a “neutral” rating in a report on Friday, October 11th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, ArcelorMittal currently has a consensus rating of “Hold” and a consensus price target of $30.30.

About ArcelorMittal

ArcelorMittal SA, together with its subsidiaries, operates as integrated steel and mining companies in the United States, Europe, and internationally. It offers semi-finished flat products, including slabs; finished flat products comprising plates, hot- and cold-rolled coils and sheets, hot-dipped and electro-galvanized coils and sheets, tinplate, and color coated coils and sheets; semi-finished long products, such as blooms and billets; finished long products consisting of bars, wire-rods, structural sections, rails, sheet piles, and wire-products; and seamless and welded pipes and tubes.