ArcelorMittal (NYSE:MT) Announces Quarterly Earnings Results

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

ArcelorMittal Price Performance

NYSE:MT opened at $26.22 on Friday. The company has a current ratio of 1.53, a quick ratio of 0.67 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $21.12 billion, a P/E ratio of 29.46, a P/E/G ratio of 0.42 and a beta of 1.93. ArcelorMittal has a 12 month low of $21.30 and a 12 month high of $29.15. The business’s 50-day moving average is $26.41 and its 200 day moving average is $26.00.

ArcelorMittal Announces Dividend

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

Wall Street Analyst Weigh In

MT has been the subject of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $31.00 price objective (down previously from $34.00) on shares of ArcelorMittal in a research note on Tuesday, April 16th. StockNews.com lowered ArcelorMittal from a “buy” rating to a “hold” rating in a research note on Monday, March 4th.

About ArcelorMittal

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.