ArcelorMittal (NYSE:MT) released its earnings results on Thursday. The basic materials company reported $0.49 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.49, Morningstar.com reports. The firm had revenue of $19.28 billion for the quarter, compared to analyst estimates of $18.90 billion. ArcelorMittal had a return on equity of 8.41% and a net margin of 2.73%. ArcelorMittal’s revenue was down 3.6% compared to the same quarter last year. During the same period in the previous year, the company earned $1.83 earnings per share.
MT traded down $0.61 during trading on Friday, reaching $14.83. The company had a trading volume of 4,200,650 shares, compared to its average volume of 2,610,586. The company has a 50-day moving average of $16.96. The firm has a market capitalization of $15.75 billion, a P/E ratio of 2.57, a price-to-earnings-growth ratio of 5.27 and a beta of 2.36. ArcelorMittal has a 12-month low of $14.59 and a 12-month high of $32.73. The company has a current ratio of 1.40, a quick ratio of 0.52 and a debt-to-equity ratio of 0.24.
MT has been the topic of a number of research analyst reports. Zacks Investment Research lowered ArcelorMittal from a “hold” rating to a “sell” rating in a report on Wednesday, April 10th. KeyCorp initiated coverage on ArcelorMittal in a report on Monday, April 15th. They set a “sector weight” rating and a $22.57 target price on the stock. ValuEngine lowered ArcelorMittal from a “sell” rating to a “strong sell” rating in a report on Friday, May 24th. TheStreet lowered ArcelorMittal from a “b-” rating to a “c+” rating in a report on Tuesday, May 21st. Finally, Goldman Sachs Group raised ArcelorMittal from a “neutral” rating to a “buy” rating in a report on Wednesday, June 12th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $26.79.
Institutional investors and hedge funds have recently modified their holdings of the stock. NEXT Financial Group Inc increased its stake in ArcelorMittal by 1,541.5% in the 2nd quarter. NEXT Financial Group Inc now owns 5,499 shares of the basic materials company’s stock worth $99,000 after purchasing an additional 5,164 shares in the last quarter. BNP Paribas Arbitrage SA increased its stake in ArcelorMittal by 4,549.6% in the 1st quarter. BNP Paribas Arbitrage SA now owns 5,533 shares of the basic materials company’s stock worth $113,000 after purchasing an additional 5,414 shares in the last quarter. Investors Research Corp purchased a new position in ArcelorMittal in the 1st quarter worth about $166,000. Quadrant Capital Group LLC increased its stake in ArcelorMittal by 102.8% in the 1st quarter. Quadrant Capital Group LLC now owns 8,947 shares of the basic materials company’s stock worth $176,000 after purchasing an additional 4,536 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV purchased a new position in ArcelorMittal in the 1st quarter worth about $214,000. 3.19% of the stock is currently owned by hedge funds and other institutional investors.
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 five segments: NAFTA, Brazil, Europe, ACIS, and Mining. The company produces finished and semi-finished steel products with various specifications.
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