Analysts Expect Allegheny Technologies Incorporated (NYSE:ATI) to Post $0.32 Earnings Per Share

Brokerages forecast that Allegheny Technologies Incorporated (NYSE:ATI) will post $0.32 earnings per share for the current quarter, Zacks reports. Two analysts have issued estimates for Allegheny Technologies’ earnings. The highest EPS estimate is $0.39 and the lowest is $0.27. Allegheny Technologies posted earnings of $0.30 per share during the same quarter last year, which indicates a positive year-over-year growth rate of 6.7%. The company is scheduled to issue its next quarterly earnings report before the market opens on Tuesday, February 4th.

On average, analysts expect that Allegheny Technologies will report full-year earnings of $1.19 per share for the current fiscal year, with EPS estimates ranging from $1.15 to $1.24. For the next year, analysts forecast that the company will post earnings of $1.61 per share, with EPS estimates ranging from $1.15 to $2.05. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side analysts that cover Allegheny Technologies.

Allegheny Technologies (NYSE:ATI) last released its earnings results on Thursday, October 31st. The basic materials company reported $0.78 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.33 by $0.45. The business had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.01 billion. Allegheny Technologies had a return on equity of 7.38% and a net margin of 5.85%. The company’s revenue for the quarter was down .1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.37 earnings per share.

ATI has been the topic of a number of recent research reports. Cowen reissued a “buy” rating and issued a $26.00 target price on shares of Allegheny Technologies in a report on Thursday, December 12th. Barclays lowered Allegheny Technologies from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $31.00 to $22.00 in a report on Wednesday, January 8th. Zacks Investment Research raised Allegheny Technologies from a “strong sell” rating to a “hold” rating and set a $20.00 target price on the stock in a report on Friday, December 13th. Cfra raised Allegheny Technologies from a “hold” rating to a “buy” rating in a report on Thursday, October 31st. Finally, Buckingham Research dropped their target price on Allegheny Technologies from $27.00 to $21.00 and set a “neutral” rating on the stock in a report on Wednesday, September 25th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company. Allegheny Technologies currently has an average rating of “Hold” and an average target price of $23.00.

Shares of NYSE:ATI traded down $0.11 during trading on Friday, reaching $18.67. The company had a trading volume of 1,471,400 shares, compared to its average volume of 1,829,183. The firm has a market capitalization of $2.38 billion, a price-to-earnings ratio of 12.36, a price-to-earnings-growth ratio of 0.79 and a beta of 2.27. The company has a debt-to-equity ratio of 0.68, a current ratio of 3.17 and a quick ratio of 1.64. The stock’s fifty day moving average price is $21.25 and its 200 day moving average price is $21.35. Allegheny Technologies has a fifty-two week low of $17.03 and a fifty-two week high of $29.50.

Hedge funds have recently made changes to their positions in the stock. Tower Research Capital LLC TRC acquired a new stake in Allegheny Technologies in the second quarter valued at $64,000. Trustcore Financial Services LLC grew its holdings in Allegheny Technologies by 1,470.0% in the third quarter. Trustcore Financial Services LLC now owns 3,140 shares of the basic materials company’s stock valued at $64,000 after purchasing an additional 2,940 shares during the last quarter. Penserra Capital Management LLC acquired a new stake in Allegheny Technologies in the third quarter valued at $125,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Allegheny Technologies by 10.7% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,939 shares of the basic materials company’s stock valued at $161,000 after purchasing an additional 768 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. grew its holdings in Allegheny Technologies by 15.0% in the third quarter. Oppenheimer Asset Management Inc. now owns 8,204 shares of the basic materials company’s stock valued at $166,000 after purchasing an additional 1,072 shares during 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 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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