ArcelorMittal (NYSE:MT) announced that its Board of Directors has initiated a share buyback program, which permits the company to repurchase $280.00 million in shares on Tuesday, March 13th, EventVestor reports. This repurchase authorization permits the basic materials company to purchase shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its stock is undervalued.
Shares of ArcelorMittal (MT) opened at $32.50 on Friday. The company has a market cap of $33,490.00, a P/E ratio of 7.29, a P/E/G ratio of 0.66 and a beta of 2.28. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.41 and a current ratio of 1.25. ArcelorMittal has a 52 week low of $19.59 and a 52 week high of $37.50.
ArcelorMittal (NYSE:MT) last announced its quarterly earnings results on Wednesday, January 31st. The basic materials company reported $1.01 EPS for the quarter, beating the Zacks’ consensus estimate of $0.80 by $0.21. The company had revenue of $17.71 billion for the quarter, compared to analysts’ expectations of $18.34 billion. ArcelorMittal had a net margin of 6.65% and a return on equity of 12.03%. During the same period in the prior year, the company posted $0.39 EPS. research analysts predict that ArcelorMittal will post 3.69 earnings per share for the current fiscal year.
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ArcelorMittal Company Profile
ArcelorMittal SA (ArcelorMittal) is a holding company. The Company, together with its subsidiaries, owns and operates steel manufacturing and mining facilities in Europe, North and South America, Asia and Africa. ArcelorMittal operates through five segments, which include NAFTA; Europe; Brazil; Africa and Commonwealth of Independent States (ACIS), and Mining.
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