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ArcelorMittal (MT) Outpaces Stock Market Gains: What You Should Know
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ArcelorMittal (MT - Free Report) closed the most recent trading day at $31.23, moving +0.55% from the previous trading session. This move outpaced the S&P 500's daily gain of 0.52%.
Coming into today, shares of the company had lost 7.23% in the past month. In that same time, the Basic Materials sector lost 4.56%, while the S&P 500 gained 2.25%.
Wall Street will be looking for positivity from MT as it approaches its next earnings report date. This is expected to be July 29, 2021. On that day, MT is projected to report earnings of $1.57 per share, which would represent year-over-year growth of 623.33%. Meanwhile, our latest consensus estimate is calling for revenue of $18.26 billion, up 66.39% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $8.70 per share and revenue of $64.97 billion. These totals would mark changes of +1229.87% and +21.96%, respectively, from last year.
Any recent changes to analyst estimates for MT should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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 6.28% higher. MT currently has a Zacks Rank of #1 (Strong Buy).
Digging into valuation, MT currently has a Forward P/E ratio of 3.57. This valuation marks a discount compared to its industry's average Forward P/E of 6.46.
Also, we should mention that MT has a PEG ratio of 2.33. 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. The Steel - Producers was holding an average PEG ratio of 0.31 at yesterday's closing price.
The Steel - Producers industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 9, which puts it in the top 4% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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ArcelorMittal (MT) Outpaces Stock Market Gains: What You Should Know
ArcelorMittal (MT - Free Report) closed the most recent trading day at $31.23, moving +0.55% from the previous trading session. This move outpaced the S&P 500's daily gain of 0.52%.
Coming into today, shares of the company had lost 7.23% in the past month. In that same time, the Basic Materials sector lost 4.56%, while the S&P 500 gained 2.25%.
Wall Street will be looking for positivity from MT as it approaches its next earnings report date. This is expected to be July 29, 2021. On that day, MT is projected to report earnings of $1.57 per share, which would represent year-over-year growth of 623.33%. Meanwhile, our latest consensus estimate is calling for revenue of $18.26 billion, up 66.39% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $8.70 per share and revenue of $64.97 billion. These totals would mark changes of +1229.87% and +21.96%, respectively, from last year.
Any recent changes to analyst estimates for MT should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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 6.28% higher. MT currently has a Zacks Rank of #1 (Strong Buy).
Digging into valuation, MT currently has a Forward P/E ratio of 3.57. This valuation marks a discount compared to its industry's average Forward P/E of 6.46.
Also, we should mention that MT has a PEG ratio of 2.33. 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. The Steel - Producers was holding an average PEG ratio of 0.31 at yesterday's closing price.
The Steel - Producers industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 9, which puts it in the top 4% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.