Zacks: Brokerages Anticipate Allegheny Technologies Incorporated (ATI) Will Announce Earnings of $0.34 Per Share

Analysts expect Allegheny Technologies Incorporated (NYSE:ATI) to announce earnings per share (EPS) of $0.34 for the current fiscal quarter, Zacks reports. Four analysts have issued estimates for Allegheny Technologies’ earnings. The lowest EPS estimate is $0.29 and the highest is $0.40. Allegheny Technologies reported earnings of $0.27 per share in the same quarter last year, which would suggest a positive year-over-year growth rate of 25.9%. The business is scheduled to issue its next quarterly earnings report on Tuesday, January 22nd.

According to Zacks, analysts expect that Allegheny Technologies will report full-year earnings of $1.58 per share for the current year, with EPS estimates ranging from $1.50 to $1.68. For the next fiscal year, analysts forecast that the company will report earnings of $2.16 per share, with EPS estimates ranging from $2.00 to $2.31. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side analysts that cover Allegheny Technologies.

Allegheny Technologies (NYSE:ATI) last posted its quarterly earnings data on Tuesday, October 23rd. The basic materials company reported $0.37 EPS for the quarter, missing the Zacks’ consensus estimate of $0.39 by ($0.02). Allegheny Technologies had a net margin of 4.67% and a return on equity of 10.15%. The firm had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1 billion. During the same period in the prior year, the company posted ($0.07) earnings per share. The company’s revenue for the quarter was up 17.4% compared to the same quarter last year.

A number of equities research analysts have recently commented on the stock. Zacks Investment Research lowered shares of Allegheny Technologies from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 25th. Barclays upped their price objective on shares of Allegheny Technologies from $36.00 to $39.00 and gave the company an “overweight” rating in a research note on Monday, July 30th. Longbow Research raised shares of Allegheny Technologies from a “neutral” rating to a “buy” rating and set a $34.00 price objective on the stock in a research note on Tuesday, November 6th. Buckingham Research upped their price objective on shares of Allegheny Technologies from $40.00 to $43.00 and gave the company a “buy” rating in a research note on Wednesday, August 8th. Finally, ValuEngine raised shares of Allegheny Technologies from a “sell” rating to a “hold” rating in a research note on Monday, September 17th. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $33.56.

In related news, VP Karl D. Schwartz sold 1,000 shares of the business’s stock in a transaction on Monday, October 15th. The shares were sold at an average price of $27.10, for a total transaction of $27,100.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 1.00% of the stock is owned by insiders.

Institutional investors have recently added to or reduced their stakes in the stock. Fernwood Investment Management LLC acquired a new position in shares of Allegheny Technologies during the 3rd quarter valued at $207,000. First Hawaiian Bank acquired a new position in shares of Allegheny Technologies during the 3rd quarter valued at $225,000. MML Investors Services LLC acquired a new position in shares of Allegheny Technologies during the 3rd quarter valued at $241,000. MAI Capital Management acquired a new position in shares of Allegheny Technologies during the 2nd quarter valued at $207,000. Finally, LPL Financial LLC acquired a new position in shares of Allegheny Technologies during the 3rd quarter valued at $251,000.

NYSE:ATI opened at $25.58 on Friday. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.21 and a current ratio of 2.90. Allegheny Technologies has a 52 week low of $21.53 and a 52 week high of $30.25. The firm has a market capitalization of $3.28 billion, a PE ratio of 53.29, a PEG ratio of 1.10 and a beta of 2.37.

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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