ArcelorMittal (MT) Announces Quarterly Earnings Results, Beats Expectations By $0.32 EPS
ArcelorMittal (NYSE:MT) released its quarterly earnings results on Friday. The basic materials company reported $1.18 EPS for the quarter, beating the consensus estimate of $0.86 by $0.32, Briefing.com reports. ArcelorMittal had a net margin of 5.50% and a return on equity of 10.52%. The firm had revenue of $17.64 billion during the quarter, compared to the consensus estimate of $17.08 billion. During the same quarter in the prior year, the firm earned $0.22 EPS. ArcelorMittal’s revenue for the quarter was up 21.5% on a year-over-year basis.
ArcelorMittal (NYSE:MT) opened at $29.14 on Friday. The company has a quick ratio of 0.42, a current ratio of 1.23 and a debt-to-equity ratio of 0.28. The stock has a market cap of $29,682.24, a PE ratio of 7.32 and a beta of 2.19. ArcelorMittal has a twelve month low of $19.59 and a twelve month high of $30.50.
Several research firms recently commented on MT. ValuEngine downgraded shares of ArcelorMittal from a “strong-buy” rating to a “buy” rating in a research report on Thursday. Zacks Investment Research downgraded shares of ArcelorMittal from a “buy” rating to a “hold” rating in a research report on Wednesday. UBS AG reiterated a “buy” rating on shares of ArcelorMittal in a research report on Thursday, October 26th. Cowen and Company downgraded shares of ArcelorMittal from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $32.00 to $27.00 in a research report on Friday, September 22nd. Finally, Jefferies Group LLC reiterated a “buy” rating on shares of ArcelorMittal in a research report on Monday, September 18th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and thirteen have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $32.72.
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ArcelorMittal SA (ArcelorMittal) is a holding company. The Company, together with its subsidiaries, owns and operates steel manufacturing and mining facilities in Europe, North and South America, Asia and Africa. ArcelorMittal operates through five segments, which include NAFTA; Europe; Brazil; Africa and Commonwealth of Independent States (ACIS), and Mining.
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