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ArcelorMittal (MT) Outpaces Stock Market Gains: What You Should Know
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In the latest trading session, ArcelorMittal (MT - Free Report) closed at $33.91, marking a +1.74% move from the previous day. This move outpaced the S&P 500's daily gain of 0.98%.
Heading into today, shares of the company had gained 12.03% over the past month, outpacing the Basic Materials sector's gain of 2.23% and the S&P 500's gain of 2.57% in that time.
MT will be looking to display strength as it nears its next earnings release, which is expected to be November 11, 2021. On that day, MT is projected to report earnings of $4.55 per share, which would represent year-over-year growth of 3133.33%. Meanwhile, our latest consensus estimate is calling for revenue of $22.44 billion, up 69.15% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $13.32 per share and revenue of $77.85 billion, which would represent changes of +1829.87% and +46.14%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for MT. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 1.25% higher within the past month. MT is currently a Zacks Rank #3 (Hold).
In terms of valuation, MT is currently trading at a Forward P/E ratio of 2.5. This represents a discount compared to its industry's average Forward P/E of 4.45.
We can also see that MT currently has a PEG ratio of 1.64. 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 0.19 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 35, which puts it in the top 14% 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.
View the Zacks #1 Rank List
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ArcelorMittal (MT) Outpaces Stock Market Gains: What You Should Know
In the latest trading session, ArcelorMittal (MT - Free Report) closed at $33.91, marking a +1.74% move from the previous day. This move outpaced the S&P 500's daily gain of 0.98%.
Heading into today, shares of the company had gained 12.03% over the past month, outpacing the Basic Materials sector's gain of 2.23% and the S&P 500's gain of 2.57% in that time.
MT will be looking to display strength as it nears its next earnings release, which is expected to be November 11, 2021. On that day, MT is projected to report earnings of $4.55 per share, which would represent year-over-year growth of 3133.33%. Meanwhile, our latest consensus estimate is calling for revenue of $22.44 billion, up 69.15% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $13.32 per share and revenue of $77.85 billion, which would represent changes of +1829.87% and +46.14%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for MT. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 1.25% higher within the past month. MT is currently a Zacks Rank #3 (Hold).
In terms of valuation, MT is currently trading at a Forward P/E ratio of 2.5. This represents a discount compared to its industry's average Forward P/E of 4.45.
We can also see that MT currently has a PEG ratio of 1.64. 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 0.19 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 35, which puts it in the top 14% 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.