ArcelorMittal (MT) to Release Earnings on Thursday

ArcelorMittal (NYSE:MT - Get Free Report) is scheduled to be posting its quarterly earnings results before the market opens on Thursday, November 7th. Analysts expect ArcelorMittal to post earnings of $0.58 per share for the quarter.

ArcelorMittal (NYSE:MT - Get Free Report) last released its quarterly earnings data on Thursday, August 1st. The basic materials company reported $0.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.12 by ($0.49). The business had revenue of $16.25 billion for the quarter, compared to analyst estimates of $16.32 billion. ArcelorMittal had a positive return on equity of 6.00% and a negative net margin of 0.93%. The company's revenue was down 12.7% compared to the same quarter last year. During the same period in the prior year, the company posted $2.20 earnings per share. On average, analysts expect ArcelorMittal to post $3 EPS for the current fiscal year and $4 EPS for the next fiscal year.

ArcelorMittal Stock Performance

Shares of NYSE MT traded up $0.06 during trading hours on Thursday, reaching $24.63. The stock had a trading volume of 1,489,322 shares, compared to its average volume of 1,595,277. The firm has a market cap of $19.84 billion, a price-to-earnings ratio of -36.22, a PEG ratio of 0.52 and a beta of 1.77. The company has a current ratio of 1.53, a quick ratio of 0.66 and a debt-to-equity ratio of 0.16. ArcelorMittal has a fifty-two week low of $20.52 and a fifty-two week high of $29.01. The firm has a 50-day moving average of $23.97 and a 200-day moving average of $24.06.

Wall Street Analyst Weigh In

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