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ArcelorMittal (MT) Stock Moves -1.22%: What You Should Know
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ArcelorMittal (MT - Free Report) closed at $28.42 in the latest trading session, marking a -1.22% move from the prior day. This change was narrower than the S&P 500's daily loss of 1.31%.
Heading into today, shares of the company had lost 7.55% over the past month, outpacing the Basic Materials sector's loss of 9.06% and lagging the S&P 500's gain of 1.56% in that time.
MT will be looking to display strength as it nears its next earnings release. Our most recent consensus estimate is calling for quarterly revenue of $18.26 billion, up 66.39% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $8.19 per share and revenue of $64.97 billion, which would represent changes of +1163.64% and +21.96%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for MT. 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. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.61% 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 3.51. Its industry sports an average Forward P/E of 6.41, so we one might conclude that MT is trading at a discount comparatively.
Also, we should mention that MT has a PEG ratio of 2.3. 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 0.38 based on yesterday's closing prices.
The Steel - Producers industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 20, which puts it in the top 8% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. 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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ArcelorMittal (MT) Stock Moves -1.22%: What You Should Know
ArcelorMittal (MT - Free Report) closed at $28.42 in the latest trading session, marking a -1.22% move from the prior day. This change was narrower than the S&P 500's daily loss of 1.31%.
Heading into today, shares of the company had lost 7.55% over the past month, outpacing the Basic Materials sector's loss of 9.06% and lagging the S&P 500's gain of 1.56% in that time.
MT will be looking to display strength as it nears its next earnings release. Our most recent consensus estimate is calling for quarterly revenue of $18.26 billion, up 66.39% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $8.19 per share and revenue of $64.97 billion, which would represent changes of +1163.64% and +21.96%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for MT. 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. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.61% 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 3.51. Its industry sports an average Forward P/E of 6.41, so we one might conclude that MT is trading at a discount comparatively.
Also, we should mention that MT has a PEG ratio of 2.3. 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 0.38 based on yesterday's closing prices.
The Steel - Producers industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 20, which puts it in the top 8% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. 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.