Equities research analysts forecast that Allegheny Technologies Incorporated (NYSE:ATI) will announce $0.38 earnings per share for the current fiscal quarter, Zacks reports. Four analysts have provided estimates for Allegheny Technologies’ earnings, with the highest EPS estimate coming in at $0.45 and the lowest estimate coming in at $0.30. Allegheny Technologies posted earnings of ($0.07) per share in the same quarter last year, which would indicate a positive year over year growth rate of 642.9%. The firm is scheduled to issue its next earnings results on Tuesday, October 23rd.
According to Zacks, analysts expect that Allegheny Technologies will report full-year earnings of $1.63 per share for the current financial year, with EPS estimates ranging from $1.55 to $1.78. For the next year, analysts anticipate that the company will post earnings of $2.21 per share, with EPS estimates ranging from $2.05 to $2.44. Zacks Investment Research’s EPS averages are an average based on a survey of research analysts that that provide coverage for Allegheny Technologies.
Allegheny Technologies (NYSE:ATI) last issued its quarterly earnings results on Tuesday, July 24th. The basic materials company reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.16. The company had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $1 billion. Allegheny Technologies had a net margin of 0.30% and a return on equity of 7.84%. The business’s quarterly revenue was up 14.7% on a year-over-year basis. During the same period last year, the business earned $0.09 EPS.
In other Allegheny Technologies news, Director James C. Diggs sold 3,844 shares of the firm’s stock in a transaction on Thursday, July 26th. The stock was sold at an average price of $29.15, for a total transaction of $112,052.60. Following the completion of the sale, the director now owns 36,146 shares of the company’s stock, valued at approximately $1,053,655.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Karl D. Schwartz sold 1,000 shares of the firm’s stock in a transaction on Monday, July 16th. The shares were sold at an average price of $26.65, for a total value of $26,650.00. The disclosure for this sale can be found here. Insiders sold 6,844 shares of company stock valued at $191,943 over the last three months. 1.00% of the stock is owned by company insiders.
Institutional investors have recently made changes to their positions in the business. Cubist Systematic Strategies LLC acquired a new stake in Allegheny Technologies during the 1st quarter valued at $126,000. Zeke Capital Advisors LLC acquired a new stake in Allegheny Technologies during the 1st quarter valued at $200,000. MAI Capital Management acquired a new stake in Allegheny Technologies during the 2nd quarter valued at $207,000. Commonwealth Equity Services LLC acquired a new stake in Allegheny Technologies during the 2nd quarter valued at $219,000. Finally, IndexIQ Advisors LLC lifted its holdings in Allegheny Technologies by 57.4% during the 2nd quarter. IndexIQ Advisors LLC now owns 9,311 shares of the basic materials company’s stock valued at $234,000 after purchasing an additional 3,397 shares during the last quarter.
Shares of ATI traded down $0.41 during mid-day trading on Tuesday, hitting $25.45. 846,956 shares of the company’s stock were exchanged, compared to its average volume of 1,178,777. The stock has a market capitalization of $3.20 billion, a P/E ratio of 53.02 and a beta of 2.51. Allegheny Technologies has a 52 week low of $20.27 and a 52 week high of $30.25. The company has a quick ratio of 1.18, a current ratio of 2.87 and a debt-to-equity ratio of 0.75.
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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