ArcelorMittal (NYSE:MT) Issues Quarterly Earnings Results

ArcelorMittal (NYSE:MT) announced its quarterly earnings data on Thursday. The basic materials company reported $0.52 EPS for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.09), Zacks reports. ArcelorMittal had a negative net margin of 1.99% and a positive return on equity of 5.26%.

ArcelorMittal Price Performance

Shares of NYSE MT traded down $0.40 during mid-day trading on Friday, reaching $27.93. 1,758,443 shares of the company traded hands, compared to its average volume of 2,067,550. ArcelorMittal has a fifty-two week low of $20.52 and a fifty-two week high of $28.95. The firm has a market cap of $22.88 billion, a PE ratio of -19.82, a price-to-earnings-growth ratio of 0.49 and a beta of 1.74. The stock has a fifty day simple moving average of $23.97 and a 200-day simple moving average of $23.83. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.46 and a quick ratio of 0.59.

Wall Street Analysts Forecast Growth

MT has been the subject of several research reports. JPMorgan Chase & Co. downgraded shares of ArcelorMittal from an “overweight” rating to a “neutral” rating in a research report on Friday, October 11th. Bank of America raised ArcelorMittal from a “neutral” rating to a “buy” rating and raised their price target for the stock from $30.00 to $32.90 in a report on Thursday, November 14th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $31.17.

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.