Equities research analysts expect Allegheny Technologies Incorporated (NYSE:ATI) to post $0.37 earnings per share for the current quarter, according to Zacks Investment Research. Four analysts have made estimates for Allegheny Technologies’ earnings. The highest EPS estimate is $0.43 and the lowest is $0.30. Allegheny Technologies reported earnings of ($0.07) per share in the same quarter last year, which would suggest a positive year over year growth rate of 628.6%. The business is expected to announce its next quarterly earnings report before the market opens on Tuesday, October 23rd.
On average, analysts expect that Allegheny Technologies will report full-year earnings of $1.63 per share for the current financial year, with EPS estimates ranging from $1.55 to $1.79. For the next financial year, analysts expect that the business will report earnings of $2.20 per share, with EPS estimates ranging from $2.05 to $2.42. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of analysts that cover Allegheny Technologies.
Allegheny Technologies (NYSE:ATI) last posted its quarterly earnings data on Tuesday, July 24th. The basic materials company reported $0.52 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.36 by $0.16. The firm had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $1 billion. Allegheny Technologies had a return on equity of 7.84% and a net margin of 0.30%. The business’s quarterly revenue was up 14.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.09 EPS.
ATI has been the subject of a number of research analyst reports. JPMorgan Chase & Co. lowered Allegheny Technologies from a “neutral” rating to an “underweight” rating and set a $25.00 target price for the company. in a research note on Friday, June 15th. Longbow Research lowered Allegheny Technologies from a “buy” rating to a “neutral” rating and set a $24.00 target price for the company. in a research note on Monday, June 25th. Cowen restated a “buy” rating and issued a $35.00 target price on shares of Allegheny Technologies in a research note on Tuesday, June 26th. Zacks Investment Research upgraded Allegheny Technologies from a “hold” rating to a “buy” rating and set a $28.00 target price for the company in a research note on Tuesday, June 26th. Finally, Stephens initiated coverage on Allegheny Technologies in a research note on Tuesday, June 26th. They issued an “overweight” rating for the company. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $30.60.
ATI stock traded up $0.10 during midday trading on Monday, reaching $27.09. The stock had a trading volume of 1,388,735 shares, compared to its average volume of 1,736,728. The firm has a market capitalization of $3.71 billion, a price-to-earnings ratio of 56.44 and a beta of 2.46. The company has a debt-to-equity ratio of 0.75, a current ratio of 2.87 and a quick ratio of 1.18. Allegheny Technologies has a 52-week low of $21.01 and a 52-week high of $30.25.
In other Allegheny Technologies news, Director James C. Diggs sold 3,844 shares of Allegheny Technologies stock in a transaction dated Thursday, July 26th. The stock was sold at an average price of $29.15, for a total transaction of $112,052.60. Following the completion of the transaction, the director now owns 36,146 shares in the company, valued at approximately $1,053,655.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Karl D. Schwartz sold 1,000 shares of Allegheny Technologies stock in a transaction dated Wednesday, August 15th. The shares were sold at an average price of $25.90, for a total value of $25,900.00. The disclosure for this sale can be found here. Insiders sold a total of 6,844 shares of company stock valued at $191,393 in the last 90 days. 1.00% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Bain Capital Public Equity Management LLC boosted its holdings in shares of Allegheny Technologies by 29.0% during the 2nd quarter. Bain Capital Public Equity Management LLC now owns 419,836 shares of the basic materials company’s stock worth $10,546,000 after purchasing an additional 94,376 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new position in shares of Allegheny Technologies during the 2nd quarter worth approximately $238,000. Global X Management Co LLC boosted its holdings in shares of Allegheny Technologies by 18.1% during the 2nd quarter. Global X Management Co LLC now owns 30,645 shares of the basic materials company’s stock worth $770,000 after purchasing an additional 4,689 shares during the last quarter. MAI Capital Management acquired a new position in shares of Allegheny Technologies during the 2nd quarter worth approximately $207,000. Finally, Advisors Asset Management Inc. boosted its holdings in shares of Allegheny Technologies by 254.8% during the 2nd quarter. Advisors Asset Management Inc. now owns 55,252 shares of the basic materials company’s stock worth $327,000 after purchasing an additional 39,680 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, 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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