ArcelorMittal (MT) Scheduled to Post Earnings on Thursday

ArcelorMittal (NYSE:MT) will be releasing its earnings data 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) last posted its earnings results on Thursday, August 1st. The basic materials company reported $0.63 EPS for the quarter, missing the consensus estimate of $1.12 by ($0.49). The firm had revenue of $16.25 billion during the quarter, compared to the consensus estimate of $16.32 billion. ArcelorMittal had a positive return on equity of 6.00% and a negative net margin of 0.93%. ArcelorMittal’s revenue for the quarter was down 12.7% on a year-over-year basis. During the same quarter last year, the company posted $2.20 EPS. 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

MT opened at $24.57 on Thursday. The company has a current ratio of 1.53, a quick ratio of 0.66 and a debt-to-equity ratio of 0.16. The business’s 50 day moving average is $23.97 and its 200-day moving average is $24.06. The stock has a market cap of $19.79 billion, a PE ratio of 27.61, a price-to-earnings-growth ratio of 0.52 and a beta of 1.77. ArcelorMittal has a twelve month low of $20.52 and a twelve month high of $29.01.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on MT shares. Barclays raised ArcelorMittal from an “equal weight” rating to an “overweight” rating in a research note on Monday, August 19th. Deutsche Bank Aktiengesellschaft upgraded shares of ArcelorMittal from a “hold” rating to a “buy” rating and lifted their price objective for the company from $29.00 to $31.00 in a research note on Wednesday, August 28th. Finally, JPMorgan Chase & Co. lowered shares of ArcelorMittal from an “overweight” rating to a “neutral” rating in a research report on Friday, October 11th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price 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.