ArcelorMittal (MT) to Issue Quarterly Dividend of $0.15 on March 18th

ArcelorMittal (NYSE:MT) declared a quarterly dividend on Tuesday, February 10th. Shareholders of record on Friday, February 20th will be given a dividend of 0.15 per share by the basic materials company on Wednesday, March 18th. This represents a c) annualized dividend and a yield of 0.9%. The ex-dividend date is Friday, February 20th.

ArcelorMittal has a dividend payout ratio of 9.3% indicating that its dividend is sufficiently covered by earnings. Research analysts expect ArcelorMittal to earn $5.14 per share next year, which means the company should continue to be able to cover its $0.46 annual dividend with an expected future payout ratio of 8.9%.

ArcelorMittal Price Performance

MT stock opened at $66.69 on Thursday. The company has a current ratio of 1.36, a quick ratio of 0.53 and a debt-to-equity ratio of 0.19. The company has a market capitalization of $51.69 billion, a P/E ratio of 16.27, a PEG ratio of 0.55 and a beta of 1.52. The business has a 50 day simple moving average of $49.61 and a 200-day simple moving average of $41.20. ArcelorMittal has a twelve month low of $23.19 and a twelve month high of $66.97.

ArcelorMittal (NYSE:MT) last released its quarterly earnings results on Thursday, February 5th. The basic materials company reported $0.86 EPS for the quarter, beating the consensus estimate of $0.56 by $0.30. The firm had revenue of $14.97 billion during the quarter, compared to the consensus estimate of $15.56 billion. ArcelorMittal had a net margin of 5.14% and a return on equity of 5.27%. ArcelorMittal’s revenue for the quarter was up 1.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.52 EPS. As a group, equities analysts anticipate that ArcelorMittal will post 3.72 EPS for the current year.

Analyst Ratings Changes

Several brokerages have recently weighed in on MT. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of ArcelorMittal in a research note on Friday, February 6th. JPMorgan Chase & Co. raised ArcelorMittal from a “neutral” rating to an “overweight” rating in a research report on Friday, November 7th. Morgan Stanley upgraded ArcelorMittal from an “equal weight” rating to an “overweight” rating in a research note on Tuesday, January 6th. Wells Fargo & Company boosted their target price on ArcelorMittal from $47.00 to $54.00 and gave the company an “equal weight” rating in a report on Friday, February 6th. Finally, Jefferies Financial Group raised ArcelorMittal from a “hold” rating to a “buy” rating and increased their price target for the stock from $51.10 to $73.20 in a report on Wednesday. Seven investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, ArcelorMittal currently has a consensus rating of “Moderate Buy” and a consensus target price of $51.98.

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.