ArcelorMittal (NYSE:MT) announced its earnings results on Thursday. The basic materials company reported $1.27 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.38 by ($0.11), Morningstar.com reports. ArcelorMittal had a return on equity of 12.62% and a net margin of 7.11%. The business had revenue of $18.52 billion for the quarter, compared to analysts’ expectations of $19.33 billion. During the same quarter last year, the firm earned $1.18 earnings per share. The firm’s quarterly revenue was up 5.0% compared to the same quarter last year.
ArcelorMittal stock traded up $0.25 during trading hours on Friday, hitting $25.50. 3,432,439 shares of the stock traded hands, compared to its average volume of 3,498,424. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.60 and a current ratio of 1.38. The company has a market cap of $25.39 billion, a PE ratio of 4.78, a PEG ratio of 1.25 and a beta of 2.27. ArcelorMittal has a 1 year low of $23.80 and a 1 year high of $37.50.
Several research analysts recently weighed in on MT shares. Macquarie started coverage on ArcelorMittal in a research note on Friday, July 6th. They set an “outperform” rating on the stock. Citigroup restated a “buy” rating on shares of ArcelorMittal in a research note on Thursday, July 12th. ValuEngine upgraded ArcelorMittal from a “sell” rating to a “hold” rating in a research note on Thursday, August 2nd. Credit Suisse Group reiterated a “buy” rating on shares of ArcelorMittal in a research note on Thursday, August 2nd. Finally, Zacks Investment Research upgraded ArcelorMittal from a “hold” rating to a “strong-buy” rating and set a $35.00 price target on the stock in a research note on Wednesday, September 5th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and nine have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $37.00.
A number of institutional investors have recently bought and sold shares of the business. Canandaigua National Bank & Trust Co. purchased a new stake in ArcelorMittal during the 3rd quarter valued at about $212,000. Comerica Bank boosted its stake in shares of ArcelorMittal by 10.3% in the third quarter. Comerica Bank now owns 70,047 shares of the basic materials company’s stock worth $1,862,000 after buying an additional 6,546 shares during the last quarter. Regentatlantic Capital LLC purchased a new stake in shares of ArcelorMittal in the third quarter worth about $279,000. FNY Investment Advisers LLC boosted its stake in shares of ArcelorMittal by 300.0% in the third quarter. FNY Investment Advisers LLC now owns 80,000 shares of the basic materials company’s stock worth $2,467,000 after buying an additional 60,000 shares during the last quarter. Finally, Exane Derivatives boosted its stake in shares of ArcelorMittal by 47.8% in the third quarter. Exane Derivatives now owns 285,739 shares of the basic materials company’s stock worth $8,815,000 after buying an additional 92,457 shares during the last quarter. Institutional investors and hedge funds own 3.34% of the company’s stock.
ArcelorMittal, together with its subsidiaries, owns and operates steel manufacturing and mining facilities in Europe, North and South America, Asia, and Africa. It operates through NAFTA, Brazil, Europe, ACIS, and Mining segments. The company produces finished and semi-finished steel products with various specifications.
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