ArcelorMittal (NYSE:MT) Issues Quarterly Earnings Results

ArcelorMittal (NYSE:MT - Get Free Report) posted its quarterly earnings results on Thursday. The basic materials company reported $0.63 EPS for the quarter, topping analysts' consensus estimates of $0.58 by $0.05, Briefing.com reports. ArcelorMittal had a negative net margin of 0.93% and a positive return on equity of 6.00%. The company had revenue of $15.20 billion for the quarter, compared to analysts' expectations of $15.11 billion. During the same quarter in the previous year, the firm posted $1.10 EPS. ArcelorMittal's revenue was down 8.5% on a year-over-year basis.

ArcelorMittal Price Performance

MT traded down $0.42 on Friday, reaching $26.09. The company had a trading volume of 2,192,496 shares, compared to its average volume of 1,422,964. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.66 and a current ratio of 1.53. ArcelorMittal has a 52-week low of $20.52 and a 52-week high of $29.01. The company has a market cap of $21.01 billion, a price-to-earnings ratio of -38.37, a P/E/G ratio of 0.55 and a beta of 1.77. The business has a 50 day simple moving average of $24.24 and a 200 day simple moving average of $24.06.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on MT. Barclays upgraded shares of ArcelorMittal from an "equal weight" rating to an "overweight" rating in a research note on Monday, August 19th. Deutsche Bank Aktiengesellschaft raised shares of ArcelorMittal from a "hold" rating to a "buy" rating and boosted their target price for the company from $29.00 to $31.00 in a report on Wednesday, August 28th. Finally, JPMorgan Chase & Co. downgraded ArcelorMittal from an "overweight" rating to a "neutral" rating in a research report on Friday, October 11th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $30.30.

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.