Equities research analysts expect Allegheny Technologies Incorporated (NYSE:ATI) to report $0.08 earnings per share (EPS) for the current quarter, Zacks reports. Four analysts have made estimates for Allegheny Technologies’ earnings. The lowest EPS estimate is ($0.19) and the highest is $0.18. Allegheny Technologies posted earnings per share of ($0.04) during the same quarter last year, which would suggest a positive year over year growth rate of 300%. The company is expected to issue its next earnings results on Tuesday, January 23rd.
According to Zacks, analysts expect that Allegheny Technologies will report full-year earnings of $0.32 per share for the current year, with EPS estimates ranging from $0.28 to $0.35. For the next year, analysts forecast that the company will report earnings of $1.09 per share, with EPS estimates ranging from $0.95 to $1.34. Zacks’ EPS calculations are a mean average based on a survey of sell-side research analysts that cover Allegheny Technologies.
Allegheny Technologies (NYSE:ATI) last issued its quarterly earnings data on Tuesday, October 24th. The basic materials company reported ($0.07) EPS for the quarter, hitting analysts’ consensus estimates of ($0.07). The business had revenue of $869.10 million for the quarter, compared to analysts’ expectations of $866.94 million. Allegheny Technologies had a negative net margin of 2.45% and a positive return on equity of 1.09%. The business’s revenue was up 12.8% on a year-over-year basis. During the same quarter last year, the company earned ($0.21) EPS.
ATI has been the topic of a number of recent analyst reports. KeyCorp reiterated a “hold” rating on shares of Allegheny Technologies in a research report on Wednesday, October 11th. Cowen reiterated a “hold” rating and set a $23.00 target price on shares of Allegheny Technologies in a research report on Tuesday, December 12th. Berenberg Bank set a $17.00 target price on Allegheny Technologies and gave the company a “hold” rating in a research report on Thursday, October 19th. Finally, Bank of America upgraded Allegheny Technologies from an “underperform” rating to a “buy” rating and increased their target price for the company from $16.00 to $24.00 in a research report on Monday, September 11th. Seven investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $21.29.
Shares of Allegheny Technologies (NYSE ATI) opened at $24.56 on Friday. The company has a market cap of $2,670.00, a P/E ratio of 176.71 and a beta of 2.38. Allegheny Technologies has a one year low of $14.54 and a one year high of $26.59. The company has a debt-to-equity ratio of 1.30, a quick ratio of 1.04 and a current ratio of 2.68.
Large investors have recently made changes to their positions in the company. Strs Ohio purchased a new position in shares of Allegheny Technologies during the 3rd quarter valued at approximately $145,000. Cubist Systematic Strategies LLC purchased a new position in shares of Allegheny Technologies during the 3rd quarter valued at approximately $181,000. Riverhead Capital Management LLC lifted its position in shares of Allegheny Technologies by 72.9% during the 2nd quarter. Riverhead Capital Management LLC now owns 8,297 shares of the basic materials company’s stock valued at $141,000 after buying an additional 3,497 shares in the last quarter. Fernwood Investment Management LLC purchased a new position in shares of Allegheny Technologies during the 3rd quarter valued at approximately $213,000. Finally, Crossmark Global Holdings Inc. purchased a new position in Allegheny Technologies in the 3rd quarter valued at $213,000.
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About Allegheny Technologies
Allegheny Technologies Incorporated is a manufacturer of specialty materials and complex components. The Company operates through two business segments: High Performance Materials & Components (HPMC), and Flat Rolled Products (FRP). The HPMC segment produces, converts and distributes a range of materials, including titanium and titanium-based alloys, nickel- and cobalt-based alloys and superalloys, zirconium and related alloys, including hafnium and niobium, advanced powder alloys and other specialty materials, in long product forms, such as ingot, billet, bar, rod, wire, shapes and rectangles, and seamless tubes, plus precision forgings, castings, components and machined parts.
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