ArcelorMittal (NYSE:MT) Posts Earnings Results, Beats Expectations By $0.23 EPS

ArcelorMittal (NYSE:MT) announced 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 business had revenue of $16.28 billion for the quarter, compared to the consensus estimate of $16.67 billion. ArcelorMittal had a return on equity of 8.24% and a net margin of 1.15%. The business’s revenue was down 12.0% on a year-over-year basis. During the same quarter last year, the business posted $1.27 EPS.

ArcelorMittal Price Performance

Shares of NYSE:MT traded up $0.15 during trading on Friday, reaching $26.22. The company had a trading volume of 1,449,631 shares, compared to its average volume of 1,730,422. The firm’s fifty day moving average is $26.42 and its 200 day moving average is $25.98. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.67 and a current ratio of 1.53. The firm has a market capitalization of $21.12 billion, a PE ratio of 29.46, a price-to-earnings-growth ratio of 0.42 and a beta of 1.93. ArcelorMittal has a twelve month low of $21.30 and a twelve month high of $29.15.

ArcelorMittal Dividend Announcement

The business also recently announced 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 is Thursday, May 16th. ArcelorMittal’s payout ratio is 41.57%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on MT. StockNews.com downgraded shares of ArcelorMittal from a “buy” rating to a “hold” rating in a report on Monday, March 4th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $31.00 price objective (down from $34.00) on shares of ArcelorMittal in a research report on Tuesday, April 16th.

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.