ArcelorMittal (NYSE:MT) Releases Earnings Results, Beats Estimates By $0.23 EPS

ArcelorMittal (NYSE:MT) posted its quarterly earnings results on Thursday. The basic materials company reported $1.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.93 by $0.23, Briefing.com reports. The company had revenue of $16.28 billion for the quarter, compared to analyst estimates of $16.67 billion. ArcelorMittal had a net margin of 1.15% and a return on equity of 8.24%. The business’s quarterly revenue was down 12.0% on a year-over-year basis. During the same period last year, the business posted $1.27 EPS.

ArcelorMittal Stock Up 0.6 %

Shares of MT opened at $26.22 on Friday. The business’s 50 day simple moving average is $26.41 and its 200-day simple moving average is $26.00. ArcelorMittal has a one year low of $21.30 and a one year high of $29.15. The company has a market capitalization of $21.12 billion, a P/E ratio of 29.46, a PEG ratio of 0.42 and a beta of 1.93. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.53 and a quick ratio of 0.67.

ArcelorMittal Announces Dividend

The company also recently disclosed a Semi-Annual dividend, which will be paid on Wednesday, June 12th. Shareholders of record on Friday, May 17th will be paid a dividend of $0.213 per share. The ex-dividend date of this dividend is Thursday, May 16th. ArcelorMittal’s dividend payout ratio is 41.57%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $31.00 price objective (down previously from $34.00) on shares of ArcelorMittal in a research report on Tuesday, April 16th. StockNews.com cut shares of ArcelorMittal from a “buy” rating to a “hold” rating in a research note on Monday, March 4th.

ArcelorMittal Company Profile

ArcelorMittal SA, together with its subsidiaries, operates as integrated steel and mining companies in the United States, Europe, and internationally. It offers semi-finished flat products, including slabs; finished flat products comprising plates, hot- and cold-rolled coils and sheets, hot-dipped and electro-galvanized coils and sheets, tinplate, and color coated coils and sheets; semi-finished long products, such as blooms and billets; finished long products consisting of bars, wire-rods, structural sections, rails, sheet piles, and wire-products; and seamless and welded pipes and tubes.