MT - ArcelorMittal

NYSE - NYSE Delayed Price. Currency in USD
17.23
+0.23 (+1.35%)
At close: 4:02PM EST

17.27 +0.04 (0.23%)
After hours: 7:51PM EST

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Trade prices are not sourced from all markets
Previous Close17.00
Open16.97
Bid17.11 x 1400
Ask17.23 x 4000
Day's Range16.90 - 17.30
52 Week Range12.53 - 25.04
Volume3,175,939
Avg. Volume3,449,201
Market Cap17.599B
Beta (3Y Monthly)2.32
PE Ratio (TTM)28.11
EPS (TTM)N/A
Earnings DateN/A
Forward Dividend & Yield0.20 (1.18%)
Ex-Dividend Date2019-05-16
1y Target EstN/A
  • ArcelorMittal's (MT) Q3 Earnings and Sales Miss Estimates
    Zacks

    ArcelorMittal's (MT) Q3 Earnings and Sales Miss Estimates

    Lower steel prices and higher raw material costs hurt ArcelorMittal's (MT) Q3 results.

  • Moody's

    ArcelorMittal -- Moody's changes outlook on ArcelorMittal's ratings to negative; affirms Baa3 rating

    Moody's Investors Service ("Moody's") has today affirmed the Baa3 long-term issuer rating of ArcelorMittal ("the group"), the world's largest steel producing company. Concurrently, Moody's affirmed the short-term issuer rating of P-3, the group's senior unsecured instrument rating of Baa3, the P-3 short-term rating on the group's Commercial Paper, the (P)Baa3 senior unsecured rating on its medium-term notes (MTN) programme and senior unsecured shelf, and (P)P-3 other short-term ratings. "We are changing the outlook on ArcelorMittal's ratings to negative, reflecting the group's sharp earnings decline this year in the context of sluggish end-market demand, and deteriorating steel spreads", says Goetz Grossmann, Moody's lead analyst for ArcelorMittal.

  • Reuters

    UPDATE 2-Italy ready for 'legal battle of century' with ArcelorMittal -Conte

    The Italian government will fight ArcelorMittal in the courts if it goes back on a pledge to buy steelmaker Ilva, but Rome still hopes to avoid a bruising legal showdown, Prime Minister Giuseppe Conte said on Thursday. "We would all lose if there were a legal battle, but should it happen, it will be the legal battle of the century," Conte, himself a lawyer, told state television RAI in an interview. ArcelorMittal said this week it was withdrawing from a deal to buy Ilva, blaming its decision on a government move to scrap previous guarantees of legal immunity during a massive clean-up operation at Ilva's huge Taranto plant.

  • Italy ready for 'legal battle of century' with ArcelorMittal - Conte
    Reuters

    Italy ready for 'legal battle of century' with ArcelorMittal - Conte

    The Italian government will fight ArcelorMittal in the courts if it goes back on a pledge to buy steelmaker Ilva, but Rome still hopes to avoid a bruising legal showdown, Prime Minister Giuseppe Conte said on Thursday. "We would all lose if there were a legal battle, but should it happen, it will be the legal battle of the century," Conte, himself a lawyer, told state television RAI in an interview. ArcelorMittal said this week it was withdrawing from a deal to buy Ilva, blaming its decision on a government move to scrap previous guarantees of legal immunity during a massive clean-up operation at Ilva's huge Taranto plant.

  • Trade optimism fuels new four-year high in European stocks
    MarketWatch

    Trade optimism fuels new four-year high in European stocks

    European stocks rose on Thursday for a fifth straight session, getting a boost from a report about the U.S. and China agreeing on how they would remove tariffs.

  • ArcelorMittal Jumps as Earnings Beat Estimates
    Bloomberg

    ArcelorMittal Jumps as Earnings Beat Estimates

    (Bloomberg) -- Want the lowdown on European markets? In your inbox before the open, every day. Sign up here.ArcelorMittal surged the most in more than two years after reporting profit that beat the highest analyst estimate, even as the company lowered its outlook for global steel demand.Citigroup Inc. said steel deliveries in Europe were better than expected, and the higher earnings helped ArcelorMittal reduce its debt levels. Jefferies Group pointed to stronger cost controls as the reason for the profit surprise.The results suggest ArcelorMittal, the world’s biggest steel producer, was able to surpass a lowered bar that analysts had set in a challenging environment for steel. Trade disputes have taken a toll on manufacturing demand, especially in the auto sector, and competition against cheaper imports has left the European steel industry in crisis.ArcelorMittal surged as much as 8.7%, the most since February 2017. The company reported third-quarter earnings before interest, taxes, depreciation and amortization of $1.06 billion, a 61% drop from a year earlier. Analysts had expected $943.2 million.“Expectations were very low going into the third quarter,” said Stijn Demeester, an analyst at ING. “The sky in the steel space isn’t falling down.”Other steelmakers climbed as well. Voestalpine AG added 3.3%. Aperam S.A., a Luxembourg-based producer, gained 2.9%, extending a rally from yesterday when it also beat profit estimates.Despite the cheer from investors today, the outlook for steel still looks grim. ArcelorMittal now sees demand in the U.S. shrinking this year, as buyers reduce stockpiles. It also cut its forecast for Europe and trimmed the top end of the global demand outlook range. Excluding China, consumption is seen flat year-on-year.“Demand in our core markets of Europe and the U.S. has remained weak, reflecting depressed manufacturing activity and continued weakness in automotive, compounded by customer destocking,” the company said.ArcelorMittal now sees European steel consumption dropping by up to 3% this year, the most since 2012.One bright spot in ArcelorMittal’s outlook was China, where the company now expects an increase in consumption of as much as 2% this year. The nation’s real estate demand continues to remain robust, it said.(Updates with other mining stocks.)To contact the reporter on this story: Elena Mazneva in London at emazneva@bloomberg.netTo contact the editors responsible for this story: Lynn Thomasson at lthomasson@bloomberg.net, Liezel HillFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Reuters

    UPDATE 2-ArcelorMittal beats expectations despite weak U.S., Europe

    ArcelorMittal, the world's largest steelmaker, cut its forecasts for demand in its main U.S. and European markets but reported a higher-than-expected core profit. ArcelorMittal shares were up 8.2% at 15.70 euros at 0720 GMT, making them among the strongest performers in the FTSEurofirst 300 index of top European shares. ArcelorMittal said global steel consumption, including the impact of inventory changes, would grow in 2019 by 0.5-1.0%, towards the lower end of its previous guidance of 0.5-1.5%.

  • ArcelorMittal slips to third-quarter net loss, sees U.S. steel downturn, worse in Europe
    Reuters

    ArcelorMittal slips to third-quarter net loss, sees U.S. steel downturn, worse in Europe

    ArcelorMittal , the world's largest steelmaker, reported a second consecutive quarterly loss on Thursday and cut its forecasts for demand in its main U.S. and European markets. The Luxembourg-based company said global steel consumption, including the impact of inventory changes, would grow in 2019 by 0.5-1.0% this year, towards the lower end of its previous guidance of 0.5-1.5%. Reporting a net loss of $539 million for the third quarter - a second straight quarter in the red - it said it now expected a reduction of U.S. steel demand due to a weak auto sector and a slowdown in demand for machinery, although non-residential construction was healthy.

  • ArcelorMittal swings to net loss in third quarter
    MarketWatch

    ArcelorMittal swings to net loss in third quarter

    The company said that it now expects steel shipments to be stable in 2019 compared with 2018, which it revised from a previous guidance of an increase year-on-year.

  • Financial Times

    ArcelorMittal cuts outlook for global steel demand

    ArcelorMittal has cut its outlook for global steel demand as stalling car sales across the US and Europe hit the world’s largest steelmaker. The Luxembourg-based group forecast European demand would contract 3 per cent in 2019 compared with previous estimates of as little as 1 per cent amid a struggling car industry, slowing demand for machinery, and ongoing trade disputes. “We continued to face tough market conditions in the third quarter, characterised by low steel prices coupled with high raw material costs,” said Lakshmi Mittal, chief executive of ArcelorMittal.

  • Italian PM says ArcelorMittal wants mass layoffs, government rejects demand
    Reuters

    Italian PM says ArcelorMittal wants mass layoffs, government rejects demand

    Steel giant ArcelorMittal wants to cut 5,000 jobs in Italy because of low production levels at its Taranto plant, Italian Prime Minister Giuseppe Conte said on Wednesday, denouncing the plan as "unacceptable". The mooted layoffs at the Ilva steelworks in Taranto came just two days after ArcelorMittal announced that it planned to pull out of a year-old deal to buy the Italian company. ArcelorMittal blamed its decision at time on the government's failure to renew a legal shield it had previously provided which gave the firm immunity from prosecution while it cleaned up the heavily polluting plant.

  • Explainer: ArcelorMittal's Italian venture runs into legal and financial woes
    Reuters

    Explainer: ArcelorMittal's Italian venture runs into legal and financial woes

    ArcelorMittal said this week it was withdrawing from a deal to buy Italy's struggling steel firm Ilva after the government scrapped previous guarantees of legal immunity during an environmental clean-up at its plant. The decision puts at risk thousands of jobs in Italy's underdeveloped south, threatens supply for Europe's second-largest steel consumer, and has led to ructions within the ruling coalition. Here is an explanation of what has gone wrong and why the issue is so important for Italy.

  • Italian government, ArcelorMittal dig in over Ilva row
    Reuters

    Italian government, ArcelorMittal dig in over Ilva row

    Italian Prime Minister Giuseppe Conte said on Tuesday he would not allow ArcelorMittal to pull out of its acquisition of troubled steel plant Ilva, as the threat of huge job losses piled pressure on the government. ArcelorMittal, the world's biggest steelmaker, announced on Monday it was scrapping a deal to buy Ilva's site in the southern city of Taranto after Rome reneged on a pledge to grant immunity from prosecution over environmental damage in the area. The government says the Amsterdam-listed steel group has no basis to withdraw from a contract it finalised last year and has accused the company of using the immunity issue as a pretext to walk away from Ilva because it is running up heavy losses there.

  • ArcelorMittal to hand Ilva plant back to Italian state over legal row
    Reuters

    ArcelorMittal to hand Ilva plant back to Italian state over legal row

    ArcelorMittal said on Monday it was withdrawing from a deal to buy struggling Italian steelmaker Ilva after Rome reneged on a promise to give it immunity from prosecution over its heavily polluting plant. The decision represents a blow to Italy's ruling coalition, which had hoped to dissuade the steel giant from pulling out of the contract, and will raise questions about the country's reliability as a partner for foreign investors. ArcelorMittal reached a deal last year to buy Ilva, which is based in the southern city of Taranto and employs 8,000 workers in a region with one of the highest unemployment rates in Italy.

  • Citi Has Some Bad News for CLF Stock and US Steel
    Market Realist

    Citi Has Some Bad News for CLF Stock and US Steel

    Citi is bearish on iron ore and steel prices, expecting bad news for Cleveland-Cliffs (CLF) and US steel companies. This year, CLF stock is trading almost flat.

  • Financial Times

    ArcelorMittal’s Ilva steelworks at risk after immunity removed

    ArcelorMittal revealed it would hand back control of the lossmaking Ilva business to the Italian authorities, following the removal of a legal protection designed to shield the company and its managers from prosecution while they undertake a clean-up of the heavily polluting facilities. Ilva is based in the southern Italian town of Taranto and employs about 8,000 people in a region with high unemployment. Once controlled by the Riva family, the plant was accused of poisoning local residents with toxic emissions and then nationalised in 2014, before ArcelorMittal agreed to a €1.8bn takeover last year.

  • Moody's

    SunCoke Energy, Inc. -- Moody's says Murray Energy bankruptcy is credit negative for SunCoke

    The bankruptcy filing is credit negative for SunCoke Energy, Inc. because it could weaken the company's credit profile due to a potential reduction in revenues, decline in operating margins, EBITDA and free cash flow and the resulting increase in leverage.

  • ArcelorMittal Monessen plant manager updates community on consent decree improvements
    American City Business Journals

    ArcelorMittal Monessen plant manager updates community on consent decree improvements

    The plant was required to make several improvements following an agreement with the state Department of Environmental Protection in December 2017.

  • Bloomberg

    Grab What You Can in India’s Bad-Loan Melee

    (Bloomberg Opinion) -- Snatch-and-grab is the new hallmark of Indian finance. As a banker friend in Mumbai put it to me only half-jokingly, a unit of "grabbed" cash collateral in hand is worth more than two units of hypothetical receivables. Yet this is no laughing matter. Not only is opportunistic behavior going to worsen India’s $200 billion-plus bad loan crisis, but now that everyone from the government’s sleuths to the courts are joining the melee, the ensuing chaos will limit the recovery for lenders and threaten depositors. Rajnish Kumar, chairman of State Bank of India, sat down for a chat with me at the Bloomberg Equality Summit in Mumbai this week. He had highlighted the problem last month by blaming what he called the selfishness of one bank for a default by Altico Capital India Ltd., a nonbank lender to property builders. When asked why his HDFC Bank Ltd. had choked Altico by helping itself to the money the shadow financier had raised elsewhere and parked with him, Aditya Puri, the managing director of India’s most valuable lender, replied: “What is out-of- turn? It is my security and I will exercise it.”Now the regulator, the Reserve Bank of India, will decide whether Kumar’s unhappiness is a case of sour grapes or if Puri did indeed cross a line. For State Bank of India, Altico is just one of the several instances where the taxpayer-funded bank has been at the receiving end.SBI didn’t drag tycoon Anil Ambani’s Reliance Communications Ltd. to an in-court bankruptcy process, hoping instead that Ambani would be able to sell assets to his brother Mukesh, India’s richest man, out of court. Ericsson AB, an operational creditor, pursued the opposite strategy and got itself a very decent court-enforced settlement by invoking the younger Ambani’s personal guarantee. More recently, SBI’s Kumar received a fresh blow when India’s enforcement directorate, tasked to fight economic crime, attached the assets of insolvent Bhushan Power & Steel Ltd. on suspicion of money laundering by its previous management. Both the new owner, who won control of Bhushan during bankruptcy, and Kumar, who’s waiting for his check, are impatient. Yet, thanks to the enforcement directorate, the $2.8 billion sale has now been put on hold by an adjudicating authority.ArcelorMittal, too, has also been waiting endlessly to conclude a near-$6 billion purchase of Essar Steel India Ltd., the most keenly watched Indian bankruptcy. There, Kumar and other creditors are facing a legalized version of snatch-and-grab: An appellate authority has held that rights of financial creditors like SBI are no superior to those of unsecured operational creditors.Finance 101 is being turned upside down in India. Take securitization. It got a bad rep during the 2008 subprime crisis, but the reality is that for India’s cash-starved shadow banks to survive, they must package more of their small-ticket loans into securities and sell them on to people like Kumar, who have a more stable source of funding: deposits. How hard is this? A court order is blocking the troubled Dewan Housing Finance Corp., which is seeking a restructuring of its $12 billion liabilities to Kumar and other creditors, from putting cash collected from homeowners into accounts from which holders of its mortgage-backed securities are paid. Six of these bonds were downgraded this week by Moody’s Corp. affiliate ICRA — three of them defaulted. These notes were supposed to perform for investors even if Dewan went bankrupt. Securitization will not lead to a safer financial system in India if this basic tenet is flouted. Small savers may not understand the nuances of high finance, but they’re the ones who feel the pain when a cooperative bank goes up in flames and the regulator puts limits on cash withdrawals. That’s what happened recently after a $1 billion fraud at Punjab & Maharashtra Co-operative Bank. The Reserve Bank is playing with fire. Imagine the consequences if, say, housing societies decide to move money out of smaller institutions and into too-big-to-fail SBI or HDFC Bank. Bailing out even small parts of a large deposit-taking industry will become a headache for Indian taxpayers. A capital-constrained economy like India can’t afford a jungle raj in finance. Only a set of clear rules can end the cash grab by powerful intermediaries and state authorities. Once powerless depositors join in the free-for-all, it will be too late.To contact the author of this story: Andy Mukherjee at amukherjee@bloomberg.netTo contact the editor responsible for this story: Patrick McDowell at pmcdowell10@bloomberg.netThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Andy Mukherjee is a Bloomberg Opinion columnist covering industrial companies and financial services. He previously was a columnist for Reuters Breakingviews. He has also worked for the Straits Times, ET NOW and Bloomberg News.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.

  • Is ArcelorMittal (MT) Going To Burn These Hedge Funds?
    Insider Monkey

    Is ArcelorMittal (MT) Going To Burn These Hedge Funds?

    Is ArcelorMittal (NYSE:MT) a good equity to bet on right now? We like to check what the smart money thinks first before doing extensive research on a given stock. Although there have been several high profile failed hedge fund picks, the consensus picks among hedge fund investors have historically outperformed the market after adjusting for […]