ArcelorMittal (NYSE:MT) Announces Quarterly Earnings Results

ArcelorMittal (NYSE:MT) announced its quarterly earnings results on Thursday. The basic materials company reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.09), Zacks reports. ArcelorMittal had a return on equity of 4.24% and a net margin of 2.14%.

ArcelorMittal Stock Performance

NYSE MT opened at $27.86 on Friday. The company’s fifty day moving average is $24.02 and its two-hundred day moving average is $23.87. ArcelorMittal has a 52-week low of $20.52 and a 52-week high of $28.95. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.46 and a quick ratio of 0.59. The firm has a market capitalization of $22.82 billion, a price-to-earnings ratio of 16.88, a P/E/G ratio of 0.56 and a beta of 1.74.

Analyst Ratings Changes

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