ArcelorMittal (NYSE:MT) Posts Earnings Results, Misses Expectations By $0.09 EPS

ArcelorMittal (NYSE:MT) announced its earnings results on Thursday. The basic materials company reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.09), Zacks reports. ArcelorMittal had a negative net margin of 1.99% and a positive return on equity of 5.26%.

ArcelorMittal Trading Up 11.1 %

MT traded up $2.84 on Thursday, reaching $28.32. 6,696,509 shares of the company traded hands, compared to its average volume of 2,050,801. The company has a quick ratio of 0.59, a current ratio of 1.46 and a debt-to-equity ratio of 0.16. The firm has a fifty day simple moving average of $23.89 and a two-hundred day simple moving average of $23.80. The company has a market cap of $23.20 billion, a P/E ratio of -20.08, a price-to-earnings-growth ratio of 0.49 and a beta of 1.74. ArcelorMittal has a one year low of $20.52 and a one year high of $28.95.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Bank of America raised shares of ArcelorMittal from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $30.00 to $32.90 in a research report on Thursday, November 14th. JPMorgan Chase & Co. cut shares of ArcelorMittal from an “overweight” rating to a “neutral” rating in a research report on Friday, October 11th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $31.17.

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.