Wall Street analysts expect Allegheny Technologies Incorporated (NYSE:ATI) to report earnings of $0.08 per share for the current quarter, according to Zacks Investment Research. Four analysts have made estimates for Allegheny Technologies’ earnings, with the highest EPS estimate coming in at $0.19 and the lowest estimate coming in at ($0.19). Allegheny Technologies reported earnings of ($0.04) per share in the same quarter last year, which indicates a positive year over year growth rate of 300%. The business is expected to report its next quarterly earnings results on Tuesday, January 23rd.
On average, analysts expect that Allegheny Technologies will report full year earnings of $0.32 per share for the current fiscal year, with EPS estimates ranging from $0.28 to $0.36. For the next fiscal year, analysts forecast that the company will report earnings of $1.07 per share, with EPS estimates ranging from $0.95 to $1.34. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research analysts that follow 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 the Thomson Reuters’ consensus estimate of ($0.07). Allegheny Technologies had a negative net margin of 2.45% and a positive return on equity of 1.09%. The business had revenue of $869.10 million during the quarter, compared to analyst estimates of $866.94 million. During the same period last year, the business posted ($0.21) earnings per share. Allegheny Technologies’s quarterly revenue was up 12.8% compared to the same quarter last year.
A number of equities analysts recently weighed in on the stock. Cowen restated a “hold” rating and issued a $18.00 price objective on shares of Allegheny Technologies in a report on Thursday, October 12th. Berenberg Bank set a $17.00 price objective on shares of Allegheny Technologies and gave the stock a “hold” rating in a report on Thursday, October 19th. KeyCorp reaffirmed a “hold” rating on shares of Allegheny Technologies in a research report on Wednesday, October 11th. Longbow Research reaffirmed a “buy” rating and issued a $24.00 target price on shares of Allegheny Technologies in a research report on Wednesday, August 23rd. Finally, Bank of America raised shares of Allegheny Technologies from an “underperform” rating to a “buy” rating and lifted their target price for the stock 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’s stock. The company has an average rating of “Hold” and a consensus target price of $20.57.
Several hedge funds and other institutional investors have recently made changes to their positions in ATI. LMR Partners LLP bought a new position in Allegheny Technologies in the 2nd quarter worth about $493,000. Neuberger Berman Group LLC boosted its stake in shares of Allegheny Technologies by 50.3% during the second quarter. Neuberger Berman Group LLC now owns 1,472,402 shares of the basic materials company’s stock valued at $25,046,000 after purchasing an additional 492,540 shares in the last quarter. Verition Fund Management LLC bought a new position in shares of Allegheny Technologies during the second quarter valued at approximately $281,000. Oppenheimer & Co. Inc. boosted its stake in shares of Allegheny Technologies by 38.7% during the second quarter. Oppenheimer & Co. Inc. now owns 32,889 shares of the basic materials company’s stock valued at $560,000 after purchasing an additional 9,184 shares in the last quarter. Finally, BNP Paribas Arbitrage SA boosted its stake in shares of Allegheny Technologies by 110.5% during the second quarter. BNP Paribas Arbitrage SA now owns 153,331 shares of the basic materials company’s stock valued at $2,608,000 after purchasing an additional 80,478 shares in the last quarter.
Allegheny Technologies (NYSE ATI) traded up $0.43 during mid-day trading on Monday, hitting $22.22. 1,876,755 shares of the stock traded hands, compared to its average volume of 2,374,775. Allegheny Technologies has a 1 year low of $14.54 and a 1 year high of $26.59. The stock has a market capitalization of $2,408.05, a price-to-earnings ratio of 158.00 and a beta of 2.38. The company has a quick ratio of 1.04, a current ratio of 2.68 and a debt-to-equity ratio of 1.30.
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Allegheny Technologies Company Profile
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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