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ArcelorMittal (MT) Stock Sinks As Market Gains: What You Should Know

ArcelorMittal (MT) closed the most recent trading day at $33.42, moving -0.33% from the previous trading session. This move lagged the S&P 500's daily gain of 0.65%.

Prior to today's trading, shares of the company had gained 15.54% over the past month. This has outpaced the Basic Materials sector's gain of 3.86% and the S&P 500's gain of 6.38% 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.

MT's full-year Zacks Consensus Estimates are calling for earnings of $13.32 per share and revenue of $77.85 billion. These results would represent year-over-year changes of +1829.87% and +46.14%, respectively.

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. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.

Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 1.25% higher. MT is currently sporting a Zacks Rank of #3 (Hold).

Digging into valuation, MT currently has a Forward P/E ratio of 2.52. For comparison, its industry has an average Forward P/E of 4.36, which means MT is trading at a discount to the group.

We can also see that MT currently has a PEG ratio of 1.65. 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 0.14 as of yesterday's close.

The Steel - Producers industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 43, putting it in the top 17% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our individual 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.


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