ArcelorMittal (NYSE:MT – Get Free Report) announced its quarterly earnings data on Thursday. The basic materials company reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.61 by ($0.09), Zacks reports. ArcelorMittal had a positive return on equity of 5.26% and a negative net margin of 1.99%.
ArcelorMittal Stock Up 11.1 %
Shares of MT stock traded up $2.84 during trading on Thursday, hitting $28.32. 6,696,512 shares of the company were exchanged, compared to its average volume of 2,072,697. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.59 and a current ratio of 1.46. The firm has a market capitalization of $23.20 billion, a price-to-earnings ratio of -20.08, a P/E/G ratio of 0.49 and a beta of 1.74. The business’s 50-day simple moving average is $23.89 and its 200 day simple moving average is $23.80. ArcelorMittal has a twelve month low of $20.52 and a twelve month high of $28.95.
Wall Street Analyst Weigh In
MT has been the topic of several recent research reports. JPMorgan Chase & Co. cut shares of ArcelorMittal from an “overweight” rating to a “neutral” rating in a research note on Friday, October 11th. Bank of America upgraded shares of ArcelorMittal from a “neutral” rating to a “buy” rating and raised their target price for the stock from $30.00 to $32.90 in a report on Thursday, November 14th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average 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.
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