ArcelorMittal (NYSE:MT) Issues Earnings Results

ArcelorMittal (NYSE:MT) announced its quarterly earnings data on Thursday. The basic materials company reported $0.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.12 by ($0.49), Briefing.com reports. ArcelorMittal had a positive return on equity of 5.94% and a negative net margin of 0.93%. The firm had revenue of $16.25 billion during the quarter, compared to analysts’ expectations of $16.32 billion. During the same quarter in the previous year, the business earned $2.20 earnings per share. The company’s revenue for the quarter was down 12.7% compared to the same quarter last year.

ArcelorMittal Stock Performance

Shares of ArcelorMittal stock traded down $0.32 on Friday, hitting $21.10. The stock had a trading volume of 2,533,580 shares, compared to its average volume of 1,739,784. ArcelorMittal has a 52-week low of $21.02 and a 52-week high of $29.01. The company has a current ratio of 1.55, a quick ratio of 0.65 and a debt-to-equity ratio of 0.15. The stock has a market cap of $16.99 billion, a price-to-earnings ratio of 23.71, a P/E/G ratio of 0.34 and a beta of 1.77. The company’s 50 day moving average price is $23.71 and its 200 day moving average price is $25.59.

Analysts Set New Price Targets

MT has been the subject of several research analyst reports. The Goldman Sachs Group initiated coverage on ArcelorMittal in a research note on Thursday, May 9th. They issued a “neutral” rating and a $29.60 price objective for the company. Deutsche Bank Aktiengesellschaft dropped their target price on ArcelorMittal from $30.00 to $29.00 and set a “hold” rating on the stock in a report on Friday. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $29.30.

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.