ArcelorMittal (NYSE:MT) Issues Earnings Results

ArcelorMittal (NYSE:MT) released its quarterly earnings data on Thursday. The basic materials company reported ($0.30) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.50) by $0.20, MarketWatch Earnings reports. ArcelorMittal had a negative return on equity of 4.30% and a negative net margin of 7.07%. The company had revenue of $10.98 billion for the quarter, compared to analyst estimates of $10.40 billion.

Shares of MT stock traded down $0.07 on Friday, hitting $10.97. The stock had a trading volume of 4,672,267 shares, compared to its average volume of 3,851,789. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.25 and a quick ratio of 0.50. ArcelorMittal has a 1 year low of $6.64 and a 1 year high of $18.89. The company’s 50 day moving average price is $11.03 and its 200-day moving average price is $11.78.

Several brokerages have recently commented on MT. Independent Research raised ArcelorMittal to a “buy” rating and set a $11.00 price target on the stock in a research note on Tuesday, May 26th. KeyCorp reaffirmed a “buy” rating and issued a $14.00 price target on shares of ArcelorMittal in a research note on Monday, July 6th. Societe Generale raised ArcelorMittal from a “sell” rating to a “hold” rating in a research note on Monday, June 22nd. JPMorgan Chase & Co. reaffirmed a “neutral” rating on shares of ArcelorMittal in a research note on Tuesday, July 14th. Finally, Deutsche Bank reaffirmed a “buy” rating on shares of ArcelorMittal in a research note on Wednesday, May 13th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $16.80.

About ArcelorMittal

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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Earnings History for ArcelorMittal (NYSE:MT)

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