ArcelorMittal (MT) closed at $29.41 in the latest trading session, marking a +0.86% move from the prior day. This change outpaced the S&P 500’s 0.15% gain on the day.
Heading into today, shares of the company had gained 22.83% over the past month, outpacing the Basic Materials sector’s gain of 6.95% and the S&P 500’s gain of 6.19% in that time.
MT will be looking to display strength as it nears its next earnings release. In that report, analysts expect MT to post earnings of $1.57 per share. This would mark year-over-year growth of 361.67%. Our most recent consensus estimate is calling for quarterly revenue of $15.96 billion, up 7.54% from the year-ago period.
MT’s full-year Zacks Consensus Estimates are calling for earnings of $5.64 per share and revenue of $59.64 billion. These results would represent year-over-year changes of +832.47% and +11.96%, respectively.
Any recent changes to analyst estimates for MT should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company’s business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 19.28% higher. MT is currently sporting a Zacks Rank of #1 (Strong Buy).
Looking at its valuation, MT is holding a Forward P/E ratio of 5.37. This valuation marks a discount compared to its industry’s average Forward P/E of 9.39.
We can also see that MT currently has a PEG ratio of 0.35. 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. MT’s industry had an average PEG ratio of 0.67 as of yesterday’s close.
The Steel – Producers industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 19, putting it in the top 8% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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