Allegheny Technologies Forecasted to Post Q2 2018 Earnings of $0.35 Per Share (ATI)

Allegheny Technologies (NYSE:ATI) – Analysts at KeyCorp lowered their Q2 2018 EPS estimates for Allegheny Technologies in a note issued to investors on Tuesday, April 24th. KeyCorp analyst P. Gibbs now anticipates that the basic materials company will post earnings per share of $0.35 for the quarter, down from their prior estimate of $0.37. KeyCorp currently has a “Buy” rating and a $31.00 target price on the stock. KeyCorp also issued estimates for Allegheny Technologies’ Q3 2018 earnings at $0.31 EPS and Q4 2018 earnings at $0.38 EPS.

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Several other analysts also recently commented on the stock. Cowen reiterated a “buy” rating and issued a $35.00 price target on shares of Allegheny Technologies in a research report on Friday, April 13th. Barclays began coverage on shares of Allegheny Technologies in a research report on Thursday, March 29th. They issued an “overweight” rating and a $33.00 price target for the company. ValuEngine downgraded shares of Allegheny Technologies from a “hold” rating to a “sell” rating in a research report on Friday, March 23rd. Goldman Sachs began coverage on shares of Allegheny Technologies in a research report on Tuesday, March 20th. They issued a “sell” rating and a $26.00 price target for the company. Finally, Bank of America upgraded shares of 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. Three research analysts have rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $29.22.

ATI stock opened at $27.07 on Thursday. Allegheny Technologies has a 12 month low of $14.54 and a 12 month high of $30.25. The firm has a market capitalization of $3,470.76, a P/E ratio of 56.40 and a beta of 2.39. The company has a quick ratio of 1.04, a current ratio of 2.70 and a debt-to-equity ratio of 0.78.

Allegheny Technologies (NYSE:ATI) last released its quarterly earnings results on Tuesday, April 24th. The basic materials company reported $0.32 EPS for the quarter, beating the consensus estimate of $0.24 by $0.08. Allegheny Technologies had a negative net margin of 1.41% and a positive return on equity of 4.75%. The firm had revenue of $979.00 million during the quarter, compared to the consensus estimate of $932.86 million. During the same quarter in the prior year, the firm earned $0.16 EPS. Allegheny Technologies’s revenue for the quarter was up 13.1% on a year-over-year basis.

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

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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.

Earnings History and Estimates for Allegheny Technologies (NYSE:ATI)

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