Analysts Expect Allegheny Technologies (ATI) to Post $0.23 Earnings Per Share

Equities research analysts predict that Allegheny Technologies (NYSE:ATI) will post earnings of $0.23 per share for the current quarter, Zacks reports. Three analysts have issued estimates for Allegheny Technologies’ earnings. The lowest EPS estimate is $0.18 and the highest is $0.27. Allegheny Technologies reported earnings of $0.16 per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 43.8%. The business is scheduled to issue its next earnings report on Tuesday, April 24th.

According to Zacks, analysts expect that Allegheny Technologies will report full-year earnings of $1.26 per share for the current financial year, with EPS estimates ranging from $1.05 to $1.36. For the next year, analysts forecast that the firm will post earnings of $1.89 per share, with EPS estimates ranging from $1.69 to $2.05. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side analysts that follow Allegheny Technologies.

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Allegheny Technologies (NYSE:ATI) last announced its quarterly earnings data on Tuesday, January 23rd. The basic materials company reported $0.27 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.15 by $0.12. The firm had revenue of $909.90 million during the quarter, compared to analysts’ expectations of $898.22 million. Allegheny Technologies had a positive return on equity of 3.47% and a negative net margin of 2.61%. The company’s quarterly revenue was up 14.3% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.04) EPS.

A number of research firms have recently commented on ATI. Cowen reissued a “hold” rating and set a $23.00 price target on shares of Allegheny Technologies in a report on Tuesday, December 12th. Bank of America raised Allegheny Technologies from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $25.61 to $32.00 in a report on Friday, March 2nd. They noted that the move was a valuation call. Zacks Investment Research cut Allegheny Technologies from a “hold” rating to a “sell” rating in a report on Monday, January 15th. JPMorgan Chase boosted their price target on Allegheny Technologies from $18.00 to $25.00 and gave the stock a “neutral” rating in a report on Wednesday, January 24th. Finally, Barclays began coverage on Allegheny Technologies in a report on Thursday. They set an “overweight” rating and a $33.00 price target for the company. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the stock. Allegheny Technologies presently has a consensus rating of “Hold” and an average price target of $28.89.

Shares of NYSE ATI opened at $23.68 on Monday. The company has a quick ratio of 1.04, a current ratio of 2.69 and a debt-to-equity ratio of 0.83. Allegheny Technologies has a fifty-two week low of $14.54 and a fifty-two week high of $30.25. The firm has a market capitalization of $2,975.65, a price-to-earnings ratio of 49.33 and a beta of 2.39.

A number of hedge funds have recently modified their holdings of ATI. Frontier Capital Management Co. LLC grew its position in Allegheny Technologies by 35.7% during the 4th quarter. Frontier Capital Management Co. LLC now owns 7,848,107 shares of the basic materials company’s stock worth $189,453,000 after acquiring an additional 2,065,137 shares during the last quarter. Ameriprise Financial Inc. grew its position in Allegheny Technologies by 90.8% during the 3rd quarter. Ameriprise Financial Inc. now owns 1,308,042 shares of the basic materials company’s stock worth $31,264,000 after acquiring an additional 622,591 shares during the last quarter. Emerald Advisers Inc. PA grew its position in Allegheny Technologies by 190.9% during the 4th quarter. Emerald Advisers Inc. PA now owns 941,793 shares of the basic materials company’s stock worth $22,735,000 after acquiring an additional 618,060 shares during the last quarter. Anchor Bolt Capital LP bought a new stake in Allegheny Technologies during the 3rd quarter worth $14,174,000. Finally, Millennium Management LLC grew its position in Allegheny Technologies by 15.9% during the 4th quarter. Millennium Management LLC now owns 3,177,259 shares of the basic materials company’s stock worth $76,699,000 after acquiring an additional 436,832 shares during the last quarter.

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About Allegheny Technologies

Allegheny Technologies Incorporated manufactures and sells specialty materials and components worldwide. The company operates through two segments, High Performance Materials & Components, and Flat-Rolled Products. The High Performance Materials & Components segment produces, converts, and distributes a range of high performance materials, including titanium and titanium-based alloys; nickel-and cobalt-based alloys and superalloys; zirconium and related alloys, such as hafnium and niobium; powder alloys; and other specialty materials in long product forms of ingots, billets, bars, rods, wires, and shapes and rectangles, as well as seamless tubes, plus precision forgings, castings, components, and machined parts.

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Earnings History and Estimates for Allegheny Technologies (NYSE:ATI)

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