ArcelorMittal (NYSE:MT) Issues Quarterly Earnings Results

ArcelorMittal (NYSE:MT) issued its earnings results 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

NYSE MT traded up $2.84 during trading hours on Thursday, reaching $28.32. The company’s stock had a trading volume of 6,696,509 shares, compared to its average volume of 2,050,801. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.46 and a quick ratio of 0.59. ArcelorMittal has a 1-year low of $20.52 and a 1-year high of $28.95. The company’s 50-day moving average is $23.89 and its two-hundred day moving average is $23.80. The firm has a market capitalization of $23.20 billion, a price-to-earnings ratio of -20.08, a P/E/G ratio of 0.49 and a beta of 1.74.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. JPMorgan Chase & Co. lowered shares of ArcelorMittal from an “overweight” rating to a “neutral” rating in a report on Friday, October 11th. Bank of America raised ArcelorMittal from a “neutral” rating to a “buy” rating and boosted their price target for the company 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 issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $31.17.

ArcelorMittal Company Profile

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.