ArcelorMittal (NYSE:MT) Posts Earnings Results, Misses Expectations By $0.49 EPS

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

ArcelorMittal Stock Performance

MT traded down $0.32 on Friday, reaching $21.10. 2,533,580 shares of the stock were exchanged, compared to its average volume of 1,739,784. The company’s 50-day moving average price is $23.71 and its 200 day moving average price is $25.59. The firm has a market capitalization of $16.99 billion, a PE ratio of 23.71, a PEG ratio of 0.34 and a beta of 1.77. ArcelorMittal has a fifty-two week low of $21.02 and a fifty-two week high of $29.01. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.55 and a quick ratio of 0.65.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. The Goldman Sachs Group initiated coverage on ArcelorMittal in a research report on Thursday, May 9th. They issued a “neutral” rating and a $29.60 price objective for the company. Deutsche Bank Aktiengesellschaft lowered their price target on ArcelorMittal from $30.00 to $29.00 and set a “hold” rating for the company in a research report on Friday. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, ArcelorMittal currently has an average rating of “Hold” and an average target price 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.