ArcelorMittal (MT) Announces Quarterly Earnings Results, Beats Estimates By $0.32 EPS

Verition Fund Management LLC trimmed its position in shares of ArcelorMittal (NYSE:MT) by 86.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The basic materials company reported $1.18 EPS for the quarter, topping the consensus estimate of $0.86 by $0.32.

Sales of the Luxembourg-based company rose 21.4 per cent to United States dollars 17.63 billion in July-September, from USD 14.52 billion in the same period a year ago. ArcelorMittal had a return on equity of 10.52% and a net margin of 5.50%.

The group said it shipped more steel in the quarter in all regions, except for Europe but even there the fall was less than the usual seasonal decline towards the end of the year.

ArcelorMittal (NYSE:MT) traded up $0.99 during mid-day trading on Friday, hitting $29.14. ArcelorMittal SA has a 12-month low of $2.93 and a 12-month high of $8.84. The company has a quick ratio of 0.42, a current ratio of 1.23 and a debt-to-equity ratio of 0.28. The company's P/E (price to earnings) ratio is 8.45 and Forward P/E ratio of 9.45.

Several other equities analysts have also recently issued reports on MT.

Some buy side analysts are also providing their Analysis on ArcelorMittal, where 2 analysts have rated the stock as Strong buy, 2 analysts have given a Buy signal, 1 said it's a HOLD, 1 reported it as Underperform and 0 analysts rated the stock as Sell. Finally, Jefferies Group LLC reiterated a "buy" rating on shares of ArcelorMittal in a research report on Monday, September 18th. The stock has a consensus rating of Buy and a consensus price target of $32.72. The company has a consensus rating of "Hold" and a consensus target price of $5.73.

The Luxembourg-based steelmaker increased its EBITDA, or Earnings Before Interest, Taxes, Depreciation and Amortization, by 1.5 percent to $1.92 billion in the third quarter that ran from July to September because of strong demand and favorable market conditions. If you are accessing this story on another publication, it was copied illegally and reposted in violation of United States and global copyright and trademark legislation. Allianz Asset Management AG now owns 18,054,973 shares of the company's stock valued at $84,136,000 after buying an additional 7,316,803 shares during the last quarter. The legal version of this piece of content can be viewed at Finally, Bank of America Corp DE lifted its holdings in ArcelorMittal by 35.8% in the 1st quarter.

ArcelorMittal (MT) is the world's leading steel and mining company.

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