$0.06 Earnings Per Share Expected for Allegheny Technologies Incorporated (ATI) This Quarter
Brokerages expect Allegheny Technologies Incorporated (NYSE:ATI) to announce $0.06 earnings per share for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Allegheny Technologies’ earnings, with the highest EPS estimate coming in at $0.09 and the lowest estimate coming in at $0.01. Allegheny Technologies posted earnings of ($0.21) per share in the same quarter last year, which suggests a positive year-over-year growth rate of 128.6%. The business is scheduled to issue its next earnings results on Tuesday, October 24th.
According to Zacks, analysts expect that Allegheny Technologies will report full-year earnings of $0.50 per share for the current fiscal year, with EPS estimates ranging from $0.47 to $0.52. For the next fiscal year, analysts forecast that the company will report earnings of $1.08 per share, with EPS estimates ranging from $0.91 to $1.32. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research firms that follow Allegheny Technologies.
Allegheny Technologies (NYSE:ATI) last posted its quarterly earnings data on Tuesday, July 25th. The basic materials company reported $0.09 EPS for the quarter, topping the consensus estimate of $0.07 by $0.02. The firm had revenue of $880.20 million during the quarter, compared to analyst estimates of $874.95 million. Allegheny Technologies had a negative net margin of 14.89% and a positive return on equity of 0.08%. Allegheny Technologies’s revenue was up 8.6% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.21) EPS.
ATI has been the topic of several research reports. Longbow Research reissued a “buy” rating and set a $24.00 price target on shares of Allegheny Technologies in a research report on Wednesday, August 23rd. Zacks Investment Research raised Allegheny Technologies from a “sell” rating to a “hold” rating in a research report on Monday, August 7th. BidaskClub raised Allegheny Technologies from a “sell” rating to a “hold” rating in a research report on Wednesday, August 2nd. Finally, J P Morgan Chase & Co raised Allegheny Technologies from an “underweight” rating to a “neutral” rating and increased their target price for the stock from $14.50 to $19.00 in a research report on Wednesday, July 26th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company. Allegheny Technologies presently has a consensus rating of “Hold” and a consensus price target of $19.65.
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A number of large investors have recently modified their holdings of ATI. Bank of Montreal Can raised its stake in shares of Allegheny Technologies by 14.4% in the first quarter. Bank of Montreal Can now owns 10,142 shares of the basic materials company’s stock valued at $182,000 after buying an additional 1,276 shares in the last quarter. Louisiana State Employees Retirement System raised its stake in shares of Allegheny Technologies by 2.2% in the first quarter. Louisiana State Employees Retirement System now owns 27,500 shares of the basic materials company’s stock valued at $494,000 after buying an additional 600 shares in the last quarter. Nisa Investment Advisors LLC raised its stake in shares of Allegheny Technologies by 63.6% in the first quarter. Nisa Investment Advisors LLC now owns 6,380 shares of the basic materials company’s stock valued at $115,000 after buying an additional 2,480 shares in the last quarter. Nationwide Fund Advisors raised its position in shares of Allegheny Technologies by 2.2% in the first quarter. Nationwide Fund Advisors now owns 264,486 shares of the basic materials company’s stock worth $4,750,000 after buying an additional 5,718 shares during the period. Finally, Oregon Public Employees Retirement Fund raised its position in shares of Allegheny Technologies by 1.3% in the first quarter. Oregon Public Employees Retirement Fund now owns 38,146 shares of the basic materials company’s stock worth $685,000 after buying an additional 500 shares during the period. 96.61% of the stock is currently owned by hedge funds and other institutional investors.
Allegheny Technologies (ATI) opened at 20.82 on Thursday. Allegheny Technologies has a 1-year low of $13.15 and a 1-year high of $23.69. The company’s 50 day moving average is $18.42 and its 200 day moving average is $17.80. The company’s market cap is $2.27 billion.
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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