In the latest trading session, ArcelorMittal (MT) closed at $28.90, marking a -0.17% move from the previous day. This move lagged the S&P 500's daily gain of 0.33%.
Coming into today, shares of the company had gained 7.54% in the past month. In that same time, the Basic Materials sector gained 1.83%, while the S&P 500 gained 4.77%.
MT will be looking to display strength as it nears its next earnings release, which is expected to be May 6, 2021. The company is expected to report EPS of $1.57, up 361.67% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $15.96 billion, up 7.54% from the prior-year quarter.
MT's full-year Zacks Consensus Estimates are calling for earnings of $5.67 per share and revenue of $59.64 billion. These results would represent year-over-year changes of +836.36% and +11.96%, respectively.
Investors should also note any recent changes to analyst estimates for MT. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
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 19.83% higher. MT currently has a Zacks Rank of #1 (Strong Buy).
Valuation is also important, so investors should note that MT has a Forward P/E ratio of 5.13 right now. For comparison, its industry has an average Forward P/E of 9.57, which means MT is trading at a discount to the group.
We can also see that MT currently has a PEG ratio of 0.34. 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. The Steel - Producers was holding an average PEG ratio of 0.63 at yesterday's closing price.
The Steel - Producers industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 13, putting it in the top 6% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.