ArcelorMittal (MT) closed at $31.83 in the latest trading session, marking a +0.28% move from the prior day. The stock outpaced the S&P 500's daily loss of 0.26%. Elsewhere, the Dow lost 0.16%, while the tech-heavy Nasdaq lost 0.04%.Prior to today's trading, shares of the company had gained 12.75% over the past month. This has outpaced the Basic Materials sector's gain of 6.01% and the S&P 500's gain of 4.82% in that time.Wall Street will be looking for positivity from ArcelorMittal as it approaches its next earnings report date. On that day, ArcelorMittal is projected to report earnings of $3.38 per share, which would represent year-over-year growth of 1777.78%. Meanwhile, our latest consensus estimate is calling for revenue of $19.96 billion, up 40.74% from the prior-year quarter.For the full year, our Zacks Consensus Estimates are projecting earnings of $13.09 per share and revenue of $75.25 billion, which would represent changes of +1800% and +41.25%, respectively, from the prior year.Investors might also notice recent changes to analyst estimates for ArcelorMittal. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.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. Over the past month, the Zacks Consensus EPS estimate has moved 1.16% lower. ArcelorMittal is currently sporting a Zacks Rank of #3 (Hold).Looking at its valuation, ArcelorMittal is holding a Forward P/E ratio of 2.42. Its industry sports an average Forward P/E of 3.81, so we one might conclude that ArcelorMittal is trading at a discount comparatively.Investors should also note that MT has a PEG ratio of 1.58 right now. 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. The Steel - Producers was holding an average PEG ratio of 0.15 at yesterday's closing price.The Steel - Producers industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 45, which puts it in the top 18% 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. Zacks Top 10 Stocks for 2022 In addition to the investment ideas discussed above, would you like to know about our 10 top picks for the entirety of 2022? From inception in 2012 through November, the Zacks Top 10 Stocks gained an impressive +962.5% versus the S&P 500’s +329.4%. Now our Director of Research is combing through 4,000 companies covered by the Zacks Rank to handpick the best 10 tickers to buy and hold. Don’t miss your chance to get in on these stocks when they’re released on January 3.Be First To New Top 10 Stocks >>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.