ArcelorMittal (NYSE:MT) Posts Earnings Results, Misses Expectations By $0.09 EPS

ArcelorMittal (NYSE:MT - Get Free Report) posted its quarterly earnings data on Thursday. The basic materials company reported $0.52 earnings per share for the quarter, missing the consensus estimate of $0.61 by ($0.09), Zacks reports. ArcelorMittal had a net margin of 2.14% and a return on equity of 4.24%.

ArcelorMittal Trading Up 1.0 %

MT stock traded up $0.29 during mid-day trading on Monday, reaching $28.13. 2,026,617 shares of the stock traded hands, compared to its average volume of 2,126,299. The company has a current ratio of 1.46, a quick ratio of 0.59 and a debt-to-equity ratio of 0.16. ArcelorMittal has a 52-week low of $20.52 and a 52-week high of $28.84. The company has a market cap of $23.04 billion, a P/E ratio of 17.05, a P/E/G ratio of 0.56 and a beta of 1.74. The stock's fifty day moving average is $24.02 and its 200-day moving average is $23.89.

Analyst Ratings Changes

Separately, Bank of America upgraded shares of ArcelorMittal from a "neutral" rating to a "buy" rating and raised their price objective for the company from $30.00 to $32.90 in a research report on Thursday, November 14th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, ArcelorMittal currently 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.