ArcelorMittal (MT) To Go Ex-Dividend on February 20th

ArcelorMittal (NYSE:MT) announced a quarterly dividend on Tuesday, February 10th. Investors of record on Friday, February 20th will be paid a dividend of 0.15 per share by the basic materials company on Wednesday, March 18th. This represents a c) dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Friday, February 20th.

ArcelorMittal has a payout ratio of 10.3% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect ArcelorMittal to earn $5.14 per share next year, which means the company should continue to be able to cover its $0.51 annual dividend with an expected future payout ratio of 9.9%.

ArcelorMittal Stock Up 4.4%

MT stock opened at $64.21 on Wednesday. The stock has a market cap of $49.76 billion, a P/E ratio of 15.66, a P/E/G ratio of 0.54 and a beta of 1.52. The company has a current ratio of 1.36, a quick ratio of 0.53 and a debt-to-equity ratio of 0.19. The stock’s fifty day simple moving average is $51.15 and its two-hundred day simple moving average is $42.10. ArcelorMittal has a 1-year low of $23.19 and a 1-year high of $66.97.

ArcelorMittal (NYSE:MT) last released its earnings results on Thursday, February 5th. The basic materials company reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.30. The company had revenue of $14.97 billion for the quarter, compared to analysts’ expectations of $15.56 billion. ArcelorMittal had a return on equity of 5.27% and a net margin of 5.14%.The business’s revenue for the quarter was up 1.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.52 EPS. Analysts expect that ArcelorMittal will post 3.72 EPS for the current year.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Jefferies Financial Group upgraded shares of ArcelorMittal from a “hold” rating to a “buy” rating and boosted their target price for the company from $51.10 to $73.20 in a research note on Wednesday, February 11th. Citigroup reaffirmed a “buy” rating on shares of ArcelorMittal in a report on Friday. UBS Group downgraded ArcelorMittal from a “buy” rating to a “neutral” rating in a research note on Monday, November 17th. JPMorgan Chase & Co. raised ArcelorMittal from a “neutral” rating to an “overweight” rating in a research report on Friday, November 7th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of ArcelorMittal in a research note on Friday, February 6th. Seven research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $51.98.

ArcelorMittal Company Profile

ArcelorMittal is a multinational steel manufacturing company formed in 2006 through the merger of Arcelor and Mittal Steel. Headquartered in Luxembourg, the company is one of the world’s largest producers of steel and operates an integrated value chain that spans raw material extraction, steelmaking, processing and distribution. Its product portfolio includes flat and long carbon steel products, coated and specialty steels, tubular products and value-added solutions tailored for sectors such as automotive, construction, household appliances, energy and packaging.

ArcelorMittal’s operations are global in scope, with production facilities, distribution networks and commercial activities across Europe, the Americas, Asia, Africa and the Commonwealth of Independent States.