ArcelorMittal (NYSE:MT) Posts Earnings Results

ArcelorMittal (NYSE:MT) announced its quarterly earnings results 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. ArcelorMittal had a positive return on equity of 5.94% and a negative net margin of 0.93%. The company had revenue of $16.25 billion during the quarter, compared to analyst estimates of $16.32 billion. During the same period in the prior year, the firm earned $2.20 EPS. ArcelorMittal’s quarterly revenue was down 12.7% on a year-over-year basis.

ArcelorMittal Stock Performance

MT traded down $0.32 on Friday, hitting $21.10. 2,533,580 shares of the stock traded hands, compared to its average volume of 1,739,784. ArcelorMittal has a 52 week low of $21.02 and a 52 week high of $29.01. The company has a current ratio of 1.55, a quick ratio of 0.65 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $16.99 billion, a PE ratio of 23.71, a P/E/G ratio of 0.34 and a beta of 1.77. The business has a fifty day moving average price of $23.71 and a two-hundred day moving average price of $25.58.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft reduced 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. The Goldman Sachs Group initiated coverage on ArcelorMittal in a research note on Thursday, May 9th. They issued a “neutral” rating and a $29.60 price objective on the stock. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, ArcelorMittal presently has an average rating of “Hold” and a consensus 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.