Analysts Expect Allegheny Technologies Incorporated (NYSE:ATI) to Announce $0.34 EPS

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Equities research analysts expect that Allegheny Technologies Incorporated (NYSE:ATI) will post earnings of $0.34 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 $0.39 and the lowest estimate coming in at $0.29. Allegheny Technologies reported earnings per share of $0.52 in the same quarter last year, which would suggest a negative year over year growth rate of 34.6%. The business is scheduled to issue its next quarterly earnings results before the market opens on Tuesday, July 23rd.

According to Zacks, analysts expect that Allegheny Technologies will report full-year earnings of $1.48 per share for the current fiscal year, with EPS estimates ranging from $1.30 to $1.80. For the next year, analysts anticipate that the business will post earnings of $2.34 per share, with EPS estimates ranging from $2.01 to $2.70. Zacks’ EPS calculations are a mean average based on a survey of research firms that cover Allegheny Technologies.

Allegheny Technologies (NYSE:ATI) last posted its quarterly earnings data on Tuesday, April 23rd. The basic materials company reported $0.12 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.12. The business had revenue of $1 billion for the quarter, compared to the consensus estimate of $991.18 million. Allegheny Technologies had a net margin of 4.41% and a return on equity of 8.79%. The company’s revenue was up 2.6% compared to the same quarter last year. During the same period last year, the firm posted $0.32 earnings per share.

A number of equities research analysts have recently commented on the stock. Zacks Investment Research cut shares of Glu Mobile from a “buy” rating to a “hold” rating in a research report on Tuesday, April 9th. KeyCorp restated a “hold” rating on shares of Silgan in a research report on Wednesday, April 24th. Macquarie cut shares of TAL Education Group from an “outperform” rating to a “neutral” rating in a research report on Friday, April 12th. Buckingham Research cut their price objective on shares of American Axle & Manufact. from $16.00 to $15.00 and set a “neutral” rating for the company in a research report on Monday, May 6th. Finally, ValuEngine upgraded shares of YPF from a “sell” rating to a “hold” rating in a research report on Monday, June 24th. Five research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $32.20.

In other Allegheny Technologies news, Director James C. Diggs sold 4,000 shares of Allegheny Technologies stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $23.65, for a total transaction of $94,600.00. Following the completion of the sale, the director now directly owns 36,458 shares in the company, valued at $862,231.70. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.06% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of ATI. Shine Investment Advisory Services Inc. raised its holdings in Allegheny Technologies by 123.5% during the first quarter. Shine Investment Advisory Services Inc. now owns 1,133 shares of the basic materials company’s stock worth $29,000 after purchasing an additional 626 shares in the last quarter. Quadrant Capital Group LLC raised its holdings in Allegheny Technologies by 283.3% during the first quarter. Quadrant Capital Group LLC now owns 1,265 shares of the basic materials company’s stock worth $31,000 after purchasing an additional 935 shares in the last quarter. FinTrust Capital Advisors LLC acquired a new stake in Allegheny Technologies during the first quarter worth approximately $64,000. First Manhattan Co. acquired a new stake in Allegheny Technologies during the first quarter worth approximately $85,000. Finally, Private Capital Group LLC raised its holdings in Allegheny Technologies by 162.5% during the first quarter. Private Capital Group LLC now owns 3,538 shares of the basic materials company’s stock worth $90,000 after purchasing an additional 2,190 shares in the last quarter.

Shares of NYSE ATI traded down $0.19 during mid-day trading on Friday, reaching $24.69. The company’s stock had a trading volume of 22,788 shares, compared to its average volume of 1,008,679. The business has a 50-day simple moving average of $24.13. The firm has a market cap of $3.11 billion, a PE ratio of 16.31, a P/E/G ratio of 1.11 and a beta of 2.34. The company has a quick ratio of 1.22, a current ratio of 2.87 and a debt-to-equity ratio of 0.75. Allegheny Technologies has a 1-year low of $20.84 and a 1-year high of $30.18.

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 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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