ArcelorMittal (NYSE:MT) Issues Quarterly Earnings Results

Posted by Lisa Pomrenke on May 5th, 2024

ArcelorMittal (NYSE:MT – Get Free Report) announced its quarterly earnings data on Thursday. The basic materials company reported $1.16 earnings per share for the quarter, topping the consensus estimate of $0.93 by $0.23, Briefing.com reports. The business had revenue of $16.28 billion during 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%. ArcelorMittal’s revenue for the quarter was down 12.0% on a year-over-year basis. During the same period in the prior year, the company earned $1.27 EPS.

ArcelorMittal Stock Performance

MT stock opened at $26.22 on Friday. The firm has a market cap 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. 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 stock has a 50-day moving average price of $26.41 and a 200-day moving average price of $26.00. ArcelorMittal has a 1-year low of $21.30 and a 1-year high of $29.15.

ArcelorMittal Announces Dividend

The company also recently declared a Semi-Annual dividend, which will be paid on Wednesday, June 12th. Shareholders 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 (DPR) is currently 41.57%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. StockNews.com lowered ArcelorMittal from a “buy” rating to a “hold” rating in a research note on Monday, March 4th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $31.00 price objective (down from $34.00) on shares of ArcelorMittal in a report on Tuesday, April 16th.

View Our Latest Stock Report on MT

About ArcelorMittal

(Get Free Report)

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.