Equities analysts expect that Allegheny Technologies Incorporated (NYSE:ATI) will announce earnings per share (EPS) of $0.38 for the current quarter, Zacks reports. Four analysts have issued estimates for Allegheny Technologies’ earnings, with the lowest EPS estimate coming in at $0.31 and the highest estimate coming in at $0.44. Allegheny Technologies reported earnings per share of $0.27 in the same quarter last year, which would suggest a positive year-over-year growth rate of 40.7%. The business is expected to issue its next earnings report on Tuesday, January 22nd.
On average, analysts expect that Allegheny Technologies will report full year earnings of $1.61 per share for the current fiscal year, with EPS estimates ranging from $1.52 to $1.71. For the next year, analysts forecast that the company will post earnings of $2.17 per share, with EPS estimates ranging from $2.05 to $2.32. Zacks’ EPS averages are an average based on a survey of analysts that cover Allegheny Technologies.
Allegheny Technologies (NYSE:ATI) last issued its earnings results on Tuesday, October 23rd. The basic materials company reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.02). Allegheny Technologies had a return on equity of 10.15% and a net margin of 4.67%. The company had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1 billion. During the same quarter in the previous year, the company earned ($0.07) EPS. The firm’s quarterly revenue was up 17.4% compared to the same quarter last year.
A number of analysts have recently commented on ATI shares. Cowen restated a “buy” rating and issued a $35.00 target price on shares of Allegheny Technologies in a research note on Tuesday, July 24th. Zacks Investment Research downgraded Allegheny Technologies from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 20th. JPMorgan Chase & Co. upgraded Allegheny Technologies from an “underweight” rating to a “neutral” rating and set a $28.00 target price on the stock in a research note on Wednesday, October 24th. ValuEngine upgraded Allegheny Technologies from a “sell” rating to a “hold” rating in a research note on Monday, September 17th. Finally, Buckingham Research upped their target price on Allegheny Technologies from $40.00 to $43.00 and gave the stock a “buy” rating in a research note on Wednesday, August 8th. Five equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $32.44.
Shares of ATI opened at $27.51 on Thursday. Allegheny Technologies has a 52 week low of $21.01 and a 52 week high of $30.25. The company has a current ratio of 2.90, a quick ratio of 1.21 and a debt-to-equity ratio of 0.74. The stock has a market capitalization of $3.46 billion, a PE ratio of 57.31 and a beta of 2.37.
In other Allegheny Technologies news, VP Karl D. Schwartz sold 1,000 shares of the stock in a transaction that occurred on Wednesday, August 15th. The stock was sold at an average price of $25.90, for a total transaction of $25,900.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders have sold 3,000 shares of company stock worth $79,790 in the last quarter. 1.00% of the stock is currently owned by company insiders.
A number of hedge funds have recently modified their holdings of ATI. Cubist Systematic Strategies LLC purchased a new position in Allegheny Technologies during the first quarter worth approximately $126,000. MAI Capital Management purchased a new position in Allegheny Technologies during the second quarter worth approximately $207,000. Commonwealth Equity Services LLC purchased a new position in Allegheny Technologies during the second quarter worth approximately $219,000. First Hawaiian Bank purchased a new position in Allegheny Technologies during the third quarter worth approximately $225,000. Finally, IndexIQ Advisors LLC boosted its position in Allegheny Technologies by 57.4% during the second quarter. IndexIQ Advisors LLC now owns 9,311 shares of the basic materials company’s stock worth $234,000 after purchasing an additional 3,397 shares in the last quarter.
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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