ArcelorMittal (MT) closed at $30.19 in the latest trading session, marking a +1.14% move from the prior day. The stock outpaced the S&P 500's daily loss of 0.24%.Coming into today, shares of the company had lost 9.55% in the past month. In that same time, the Basic Materials sector lost 3.15%, while the S&P 500 lost 2.12%.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 $4.63 per share, which would represent year-over-year growth of 3186.67%. 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 $13.25 per share and revenue of $76.49 billion, which would represent changes of +1820.78% and +43.58%, respectively, from the prior year.Investors might also notice recent changes to analyst estimates for MT. These revisions typically reflect the latest short-term business trends, which can change frequently. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 5.46% higher. MT is holding a Zacks Rank of #2 (Buy) right now.In terms of valuation, MT is currently trading at a Forward P/E ratio of 2.25. This represents a discount compared to its industry's average Forward P/E of 4.27.It is also worth noting that MT currently has a PEG ratio of 1.47. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. MT's industry had an average PEG ratio of 0.18 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 37, which puts it in the top 15% of all 250+ industries.The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.To follow MT in the coming trading sessions, be sure to utilize Zacks.com. Time to Invest in Legal Marijuana If you’re looking for big gains, there couldn’t be a better time to get in on a young industry primed to skyrocket from $17.7 billion back in 2019 to an expected $73.6 billion by 2027. After a clean sweep of 6 election referendums in 5 states, pot is now legal in 36 states plus D.C. Federal legalization is expected soon and that could be a still greater bonanza for investors. Even before the latest wave of legalization, Zacks Investment Research has recommended pot stocks that have shot up as high as +285.9%. You’re invited to check out Zacks’ Marijuana Moneymakers: An Investor’s Guide. It features a timely Watch List of pot stocks and ETFs with exceptional growth potential.Today, Download Marijuana Moneymakers FREE >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report ArcelorMittal (MT): Free Stock Analysis Report To read this article on Zacks.com click here.