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ArcelorMittal (MT) Dips More Than Broader Markets: What You Should Know
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In the latest trading session, ArcelorMittal (MT - Free Report) closed at $29.14, marking a -0.85% move from the previous day. This change lagged the S&P 500's 0.08% loss on the day.
Heading into today, shares of the company had lost 11.77% over the past month, lagging the Basic Materials sector's loss of 4.18% and the S&P 500's loss of 1.81% in that time.
Investors will be hoping for strength from MT as it approaches its next earnings release. The company is expected to report EPS of $4.63, up 3186.67% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $22.3 billion, up 68.08% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $12.90 per share and revenue of $76.57 billion, which would represent changes of +1775.32% and +43.74%, respectively, from the prior year.
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 2.69% higher. MT is holding a Zacks Rank of #1 (Strong Buy) right now.
Digging into valuation, MT currently has a Forward P/E ratio of 2.28. Its industry sports an average Forward P/E of 4.08, so we one might conclude that MT is trading at a discount comparatively.
Also, we should mention that MT has a PEG ratio of 1.49. 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 0.17 as of yesterday's close.
The Steel - Producers industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 16, which puts it in the top 7% 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.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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ArcelorMittal (MT) Dips More Than Broader Markets: What You Should Know
In the latest trading session, ArcelorMittal (MT - Free Report) closed at $29.14, marking a -0.85% move from the previous day. This change lagged the S&P 500's 0.08% loss on the day.
Heading into today, shares of the company had lost 11.77% over the past month, lagging the Basic Materials sector's loss of 4.18% and the S&P 500's loss of 1.81% in that time.
Investors will be hoping for strength from MT as it approaches its next earnings release. The company is expected to report EPS of $4.63, up 3186.67% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $22.3 billion, up 68.08% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $12.90 per share and revenue of $76.57 billion, which would represent changes of +1775.32% and +43.74%, respectively, from the prior year.
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 2.69% higher. MT is holding a Zacks Rank of #1 (Strong Buy) right now.
Digging into valuation, MT currently has a Forward P/E ratio of 2.28. Its industry sports an average Forward P/E of 4.08, so we one might conclude that MT is trading at a discount comparatively.
Also, we should mention that MT has a PEG ratio of 1.49. 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 0.17 as of yesterday's close.
The Steel - Producers industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 16, which puts it in the top 7% 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.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.