ArcelorMittal (NYSE:MT) Declares $0.15 Quarterly Dividend

ArcelorMittal (NYSE:MT) announced a quarterly dividend on Friday, February 13th. Shareholders of record on Wednesday, May 13th will be given a dividend of 0.15 per share by the basic materials company on Wednesday, June 10th. This represents a c) dividend on an annualized basis and a yield of 1.0%. The ex-dividend date is Wednesday, May 13th.

ArcelorMittal has a payout ratio of 10.3% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect ArcelorMittal to earn $7.09 per share next year, which means the company should continue to be able to cover its $0.51 annual dividend with an expected future payout ratio of 7.2%.

ArcelorMittal Trading Down 0.0%

NYSE:MT opened at $62.03 on Monday. The company has a current ratio of 1.39, a quick ratio of 0.54 and a debt-to-equity ratio of 0.19. The stock has a market capitalization of $48.07 billion, a price-to-earnings ratio of 16.28, a PEG ratio of 0.50 and a beta of 1.48. The firm has a fifty day simple moving average of $57.03 and a two-hundred day simple moving average of $50.88. ArcelorMittal has a 12 month low of $29.62 and a 12 month high of $67.60.

ArcelorMittal (NYSE:MT) last posted its quarterly earnings results on Thursday, April 30th. The basic materials company reported $0.75 EPS for the quarter, topping analysts’ consensus estimates of $0.72 by $0.03. The business had revenue of $15.46 billion during the quarter, compared to analysts’ expectations of $17.04 billion. ArcelorMittal had a net margin of 4.71% and a return on equity of 4.77%. The business’s quarterly revenue was up 4.5% on a year-over-year basis. During the same period last year, the company posted $1.05 earnings per share. Analysts expect that ArcelorMittal will post 4.67 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on MT shares. Santander lowered shares of ArcelorMittal from an “outperform” rating to a “neutral” rating in a research note on Tuesday, April 21st. KeyCorp assumed coverage on shares of ArcelorMittal in a research report on Wednesday, March 25th. They set a “sector weight” rating on the stock. Citigroup reissued a “buy” rating on shares of ArcelorMittal in a research report on Friday, February 13th. Wells Fargo & Company raised their price target on shares of ArcelorMittal from $60.00 to $61.00 and gave the company an “equal weight” rating in a research report on Friday, May 1st. Finally, Weiss Ratings raised shares of ArcelorMittal from a “hold (c)” rating to a “buy (b-)” rating in a research report on Monday, May 4th. Six research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, ArcelorMittal currently has a consensus rating of “Hold” and a consensus price target of $61.07.

ArcelorMittal Company Profile

ArcelorMittal is a multinational steel manufacturing company formed in 2006 through the merger of Arcelor and Mittal Steel. Headquartered in Luxembourg, the company is one of the world’s largest producers of steel and operates an integrated value chain that spans raw material extraction, steelmaking, processing and distribution. Its product portfolio includes flat and long carbon steel products, coated and specialty steels, tubular products and value-added solutions tailored for sectors such as automotive, construction, household appliances, energy and packaging.

ArcelorMittal’s operations are global in scope, with production facilities, distribution networks and commercial activities across Europe, the Americas, Asia, Africa and the Commonwealth of Independent States.