Equities research analysts forecast that Allegheny Technologies Incorporated (NYSE:ATI) will post $0.15 earnings per share for the current quarter, Zacks reports. Four analysts have provided estimates for Allegheny Technologies’ earnings. The highest EPS estimate is $0.18 and the lowest is $0.10. Allegheny Technologies reported earnings per share of ($0.04) in the same quarter last year, which would suggest a positive year over year growth rate of 475%. The firm is scheduled to issue its next earnings report before the market opens on Tuesday, January 23rd.

On average, analysts expect that Allegheny Technologies will report full year earnings of $0.16 per share for the current fiscal year, with EPS estimates ranging from ($0.47) to $0.35. For the next year, analysts forecast that the firm will report earnings of $1.09 per share, with EPS estimates ranging from $0.95 to $1.34. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research analysts that follow Allegheny Technologies.

Allegheny Technologies (NYSE:ATI) last released its quarterly earnings data on Tuesday, October 24th. The basic materials company reported ($0.07) earnings per share for the quarter, hitting the Zacks’ consensus estimate of ($0.07). The firm had revenue of $869.10 million for the quarter, compared to analyst estimates of $866.94 million. Allegheny Technologies had a negative net margin of 2.45% and a positive return on equity of 1.09%. The business’s quarterly revenue was up 12.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.21) earnings per share.

A number of analysts have recently weighed in on the stock. KeyCorp reiterated a “hold” rating on shares of Allegheny Technologies in a research note on Wednesday, October 11th. Cowen reiterated a “hold” rating and issued a $23.00 price objective on shares of Allegheny Technologies in a research note on Tuesday, December 12th. Finally, Berenberg Bank set a $17.00 price target on shares of Allegheny Technologies and gave the company a “hold” rating in a research report on Thursday, October 19th. Six research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $21.29.

Allegheny Technologies (NYSE ATI) traded up $0.14 during trading hours on Friday, hitting $27.39. 1,540,000 shares of the stock were exchanged, compared to its average volume of 1,860,000. The firm has a market capitalization of $2,980.00, a price-to-earnings ratio of -33.40 and a beta of 2.39. Allegheny Technologies has a 1 year low of $14.54 and a 1 year high of $27.71. The company has a debt-to-equity ratio of 1.30, a current ratio of 2.68 and a quick ratio of 1.04.

Hedge funds have recently added to or reduced their stakes in the stock. Riverhead Capital Management LLC grew its position in Allegheny Technologies by 72.9% during the second quarter. Riverhead Capital Management LLC now owns 8,297 shares of the basic materials company’s stock valued at $141,000 after buying an additional 3,497 shares during the period. Strs Ohio acquired a new stake in Allegheny Technologies during the third quarter valued at $145,000. Flinton Capital Management LLC grew its position in Allegheny Technologies by 70.8% during the second quarter. Flinton Capital Management LLC now owns 9,184 shares of the basic materials company’s stock valued at $156,000 after buying an additional 3,808 shares during the period. Oppenheimer Asset Management Inc. grew its position in Allegheny Technologies by 2.1% during the second quarter. Oppenheimer Asset Management Inc. now owns 9,587 shares of the basic materials company’s stock valued at $163,000 after buying an additional 201 shares during the period. Finally, Sciencast Management LP acquired a new stake in Allegheny Technologies during the second quarter valued at $179,000.

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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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