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

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

ArcelorMittal Stock Up 0.6 %

Shares of NYSE:MT traded up $0.15 during mid-day trading on Friday, reaching $26.22. 1,449,631 shares of the stock were exchanged, compared to its average volume of 1,730,422. The stock’s 50 day simple moving average is $26.42 and its 200-day simple moving average is $25.98. ArcelorMittal has a one year low of $21.30 and a one year high of $29.15. The company has a market cap 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. The company has a quick ratio of 0.67, a current ratio of 1.53 and a debt-to-equity ratio of 0.15.

ArcelorMittal Announces Dividend

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

Analyst Upgrades and Downgrades

Several research firms recently weighed in on MT. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set 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 shares of ArcelorMittal from a “buy” rating to a “hold” rating in a report 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.