Arcelor Mittal Q3 Profit Climbs On Shipments; Notes Favorable Market Conditions

Arcelor Mittal Q3 Profit Climbs On Shipments; Notes Favorable Market Conditions

Arcelor Mittal Q3 Profit Climbs On Shipments; Notes Favorable Market Conditions

ArcelorMittal should gain from its efforts to reduce debt. The demand environment remains positive and steel spreads remain healthy.

"Favorable market conditions have supported another solid quarterly performance, with EBITDA for the first nine months considerably improved year-on-year", ArcelorMittal Chairman and Chief Executive Officer Lakshmi N. Mittal said.

MT has been the subject of several research analyst reports. Cowen & Co maintained the stock with "Hold" rating in Tuesday, October 24 report. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and thirteen have given a buy rating to the company. Vetr raised ArcelorMittal SA from a "buy" rating to a "strong-buy" rating and set a $6.78 price objective on the stock in a report on Tuesday, September 13th.

ArcelorMittal (MT) traded up $0.99 during mid-day trading on Friday, hitting $29.14. The quick ratio, on the other hand, is 0.4 indicating the company's current short-term liquidity. More interesting news about ArcelorMittal SA (ADR) (NYSE:MT) were released by: and their article: "ArcelorMittal SA (ADR) (MT) Rides Higher Steel Prices to Earnings Beat" published on May 12, 2017 as well as's news article titled: "Why General Electric Company (GE), Nordstrom, Inc". The stock has a market capitalization of $29,682.24, a price-to-earnings ratio of 7.32 and a beta of 2.19. ArcelorMittal's revenue was up 21.5% compared to the same quarter a year ago.

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Sales jumped by 21.5 percent from the same period previous year to $17.6 billion (15.1 billion euros), while its net profit shot up 71.4 percent to $1.2 billion, both beating the consensus of estimates of analysts surveyed by Bloomberg. ArcelorMittal had a net margin of 5.50% and a return on equity of 10.52%. Operating income was up 2.5 percent year-over-year. The company's revenue for the quarter was up 21.5% on a year-over-year basis. research analysts expect that ArcelorMittal will post 3.3 EPS for the current year. If you are accessing this piece of content on another site, it was copied illegally and republished in violation of United States & worldwide copyright laws. The correct version of this piece can be accessed at JPMorgan Chase & Co. lifted its position in shares of ArcelorMittal by 2.4% in the third quarter.

As the earnings date approaches, we can see that insider ownership is now 44.80% shares, and institutional ownership is at 3.40% for ArcelorMittal (NYSE:MT) stock.

In North America, steel shipment rose 4.3 percent year-over-year in the third quarter, the company reported. Cambiar Investors LLC now owns 5,283,658 shares of the basic materials company's stock worth $136,107,000 after purchasing an additional 237,033 shares in the last quarter. Alpine Woods Capital Investors LLC increased its position in shares of ArcelorMittal by 71.3% in the third quarter. SG Americas Securities LLC acquired a new stake in shares of ArcelorMittal during the 3rd quarter worth approximately $229,000. PNC Financial Services Group Inc. increased its stake in ArcelorMittal SA by 0.3% in the second quarter. The fund owned 353,493 shares of the company's stock after buying an additional 346,058 shares during the period.

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