Zacks: Analysts Expect Allegheny Technologies (ATI) Will Announce Earnings of $0.23 Per Share

Analysts expect Allegheny Technologies (NYSE:ATI) to post $0.23 earnings per share for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for Allegheny Technologies’ earnings, with the highest EPS estimate coming in at $0.27 and the lowest estimate coming in at $0.18. Allegheny Technologies posted earnings per share of $0.16 during the same quarter last year, which indicates a positive year-over-year growth rate of 43.8%. The business is scheduled to announce its next earnings results before the market opens on Tuesday, April 24th.

On average, 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 financial year, analysts forecast that the company will post earnings of $1.89 per share, with EPS estimates ranging from $1.69 to $2.05. Zacks Investment Research’s EPS calculations are a mean average based on a survey of research analysts that that provide coverage for Allegheny Technologies.

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Allegheny Technologies (NYSE:ATI) last issued its earnings results on Tuesday, January 23rd. The basic materials company reported $0.27 earnings per share for the quarter, beating the consensus estimate of $0.15 by $0.12. The company 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%. Allegheny Technologies’s quarterly revenue was up 14.3% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.04) EPS.

A number of research analysts have commented on the company. Goldman Sachs assumed coverage on Allegheny Technologies in a research report on Tuesday, March 20th. They set a “sell” rating and a $26.00 price target for the company. Zacks Investment Research lowered Allegheny Technologies from a “hold” rating to a “sell” rating in a research report on Monday, January 15th. Cowen raised Allegheny Technologies from a “market perform” rating to an “outperform” rating in a research report on Monday, January 8th. Bank of America raised Allegheny Technologies from a “neutral” rating to a “buy” rating and upped their price target for the company from $25.61 to $32.00 in a research report on Friday, March 2nd. They noted that the move was a valuation call. Finally, ValuEngine lowered Allegheny Technologies from a “hold” rating to a “sell” rating in a research report on Friday, March 23rd. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $29.22.

Several large investors have recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Allegheny Technologies by 42.4% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,625 shares of the basic materials company’s stock worth $184,000 after acquiring an additional 2,269 shares in the last quarter. Flinton Capital Management LLC raised its position in shares of Allegheny Technologies by 24.1% in the 4th quarter. Flinton Capital Management LLC now owns 13,104 shares of the basic materials company’s stock worth $316,000 after acquiring an additional 2,548 shares in the last quarter. Louisiana State Employees Retirement System raised its position in shares of Allegheny Technologies by 9.3% in the 4th quarter. Louisiana State Employees Retirement System now owns 31,800 shares of the basic materials company’s stock worth $768,000 after acquiring an additional 2,700 shares in the last quarter. First Mercantile Trust Co. raised its position in shares of Allegheny Technologies by 10.6% in the 4th quarter. First Mercantile Trust Co. now owns 30,745 shares of the basic materials company’s stock worth $742,000 after acquiring an additional 2,941 shares in the last quarter. Finally, Global X Management Co. LLC raised its position in shares of Allegheny Technologies by 75.3% in the 4th quarter. Global X Management Co. LLC now owns 7,579 shares of the basic materials company’s stock worth $183,000 after acquiring an additional 3,255 shares in the last quarter.

Shares of ATI stock opened at $26.29 on Thursday. The stock has a market cap of $3,248.34, a P/E ratio of 54.77 and a beta of 2.39. Allegheny Technologies has a 1-year low of $14.54 and a 1-year high of $30.25. The company has a debt-to-equity ratio of 0.83, a current ratio of 2.69 and a quick ratio of 1.04.

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Allegheny Technologies Company Profile

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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