ArcelorMittal (NYSE:MT) Releases Earnings Results, Misses Estimates By $0.09 EPS

ArcelorMittal (NYSE:MT) released its quarterly 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 Stock Performance

MT traded up $2.84 during trading on Thursday, reaching $28.32. 6,696,512 shares of the company’s stock were exchanged, compared to its average volume of 2,072,697. ArcelorMittal has a fifty-two week low of $20.52 and a fifty-two week high of $28.95. The company has a quick ratio of 0.59, a current ratio of 1.46 and a debt-to-equity ratio of 0.16. The business has a 50 day moving average price of $23.89 and a 200 day moving average price of $23.80. The company has a market capitalization of $23.20 billion, a P/E ratio of -20.08, a PEG ratio of 0.49 and a beta of 1.74.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Bank of America raised shares of ArcelorMittal from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $30.00 to $32.90 in a research report on Thursday, November 14th. JPMorgan Chase & Co. lowered shares of ArcelorMittal from an “overweight” rating to a “neutral” rating in a research report on Friday, October 11th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus 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.