Why ArcelorMittal (MT) Stock Might be a Great Pick
June 09, 2016, 08:51:00 AM EDT By Zacks Equity Research, Zacks.com Comment
One stock that might be an intriguing choice for investors right now is ArcelorMittal MT
This is because this security in the Steel Producers space is seeing solid earnings estimate revision activity, and is in great company from a Zacks Industry Rank perspective.
This is important because, often times, a rising tide will lift all boats in an industry, as there can be broad trends taking place in a segment that are boosting securities across the board. This is arguably taking place in the Steel Producers space as it currently has a Zacks Industry Rank of 69 out of more than 250 industries, suggesting it is well-positioned from this perspective, especially when compared to other segments out there.
Meanwhile, ArcelorMittal is actually looking pretty good on its own too. The firm has seen solid earnings estimate revision activity over the past month, suggesting analysts are becoming a bit more bullish on the firm's prospects in both the short and long term.
In fact, over the past month, current quarter estimates have risen from 5 cents per share to 8 cents per share, while current year estimates have risen from breakeven per share to 5 cents per share. This has helped MT to earn a Zacks Rank #2 (Buy), further underscoring the company's solid position.
So, if you are looking for a decent pick in a strong industry, consider ArcelorMittal. Not only is its industry currently in the top third, but it is seeing solid estimate revisions as of late, suggesting it could be a very interesting choice for investors seeking a name in this great industry segment.
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ARCELOR MITTAL (MT): Free Stock Analysis Report