ArcelorMittal (NYSE:MT) announced its earnings results on Thursday. The basic materials company reported ($0.53) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.29) by ($0.24), Briefing.com reports. The business had revenue of $16.63 billion during the quarter, compared to the consensus estimate of $16.70 billion. ArcelorMittal had a return on equity of 8.39% and a net margin of 2.73%. ArcelorMittal’s revenue was down 10.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.89 earnings per share.
Shares of ArcelorMittal stock traded down $0.17 during trading on Friday, hitting $17.00. 3,280,762 shares of the stock traded hands, compared to its average volume of 3,093,834. The company has a quick ratio of 0.52, a current ratio of 1.41 and a debt-to-equity ratio of 0.24. The stock has a market cap of $17.41 billion, a price-to-earnings ratio of 2.95 and a beta of 2.42. The firm’s fifty day moving average is $14.71 and its 200-day moving average is $16.07. ArcelorMittal has a 52 week low of $12.53 and a 52 week high of $25.46.
Several equities analysts have recently commented on the company. Zacks Investment Research lowered ArcelorMittal from a “hold” rating to a “sell” rating and set a $15.00 price objective on the stock. in a research report on Friday, October 11th. Societe Generale lowered ArcelorMittal from a “buy” rating to a “sell” rating in a research report on Tuesday, November 5th. UBS Group reiterated a “neutral” rating on shares of ArcelorMittal in a research report on Wednesday, October 9th. Deutsche Bank reduced their price objective on ArcelorMittal from $25.00 to $18.00 and set a “buy” rating on the stock in a research report on Monday, October 7th. Finally, ValuEngine lowered ArcelorMittal from a “hold” rating to a “sell” rating in a research report on Friday, November 1st. Three research analysts have rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the stock. ArcelorMittal presently has an average rating of “Hold” and a consensus price target of $21.14.
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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