ArcelorMittal (MT) Dips More Than Broader Markets: What You Should Know
In the latest trading session, ArcelorMittal (MT) closed at $32.50, marking a -0.49% move from the previous day. This change lagged the S&P 500's daily loss of 0.1%. Meanwhile, the Dow gained 0.26%, and the Nasdaq, a tech-heavy index, lost 0.1%.
Prior to today's trading, shares of the company had gained 18.68% over the past month. This has outpaced the Basic Materials sector's gain of 4.32% and the S&P 500's gain of 4.4% in that time.
Wall Street will be looking for positivity from ArcelorMittal as it approaches its next earnings report date. In that report, analysts expect ArcelorMittal to post earnings of $3.38 per share. This would mark year-over-year growth of 1777.78%. Our most recent consensus estimate is calling for quarterly revenue of $19.96 billion, up 40.74% from the year-ago period.
MT's full-year Zacks Consensus Estimates are calling for earnings of $13.09 per share and revenue of $75.25 billion. These results would represent year-over-year changes of +1800% and +41.25%, respectively.
It is also important to note the recent changes to analyst estimates for ArcelorMittal. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 1.16% lower within the past month. ArcelorMittal is currently a Zacks Rank #3 (Hold).
Investors should also note ArcelorMittal's current valuation metrics, including its Forward P/E ratio of 2.49. This represents a discount compared to its industry's average Forward P/E of 3.87.
We can also see that MT currently has a PEG ratio of 1.63. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. Steel - Producers stocks are, on average, holding a PEG ratio of 0.14 based on yesterday's closing prices.
The Steel - Producers industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 44, putting it in the top 18% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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