Bear of the Day: ArcelorMittal (MT) - Bear of the Day
07 Dicembre 2012 - 1:00AM
Zacks
We are retaining our Underperform recommendation on
ArcelorMittal (MT) following its dismal third-quarter 2012
results. It turned to a loss in the quarter, hurt by weak economic
conditions and lower steel pricing. Both revenues and adjusted loss
per share missed the Zacks Consensus Estimates. The company
announced its plans to cut its annual dividend.
ArcelorMittal remains affected by the challenging economic
conditions in Europe. It is also exposed to volatility in steel
pricing and tough competition and has significant debt which is
almost equal to its market capitalization.
Steel industry oversupply due to imports and Chinese production
has pressured prices and might lead to further price declines.
Moreover, weakness in end markets due to macroeconomic uncertainty
is another area of concern.
ARCELOR MITTAL (MT): Free Stock Analysis Report
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