Analysts Expect Allegheny Technologies Incorporated (NYSE:ATI) to Post $0.31 Earnings Per Share – MarketBeat

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Brokerages expect Allegheny Technologies Incorporated (NYSE:ATI – Get Rating) to post earnings per share of $0.31 for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for Allegheny Technologies’ earnings. The highest EPS estimate is $0.38 and the lowest is $0.20. Allegheny Technologies posted earnings per share of ($0.12) during the same quarter last year, which indicates a positive year-over-year growth rate of 358.3%. The company is scheduled to report its next earnings report on Monday, January 1st.
On average, analysts expect that Allegheny Technologies will report full-year earnings of $1.26 per share for the current financial year, with EPS estimates ranging from $0.95 to $1.53. For the next fiscal year, analysts anticipate that the business will report earnings of $1.67 per share, with EPS estimates ranging from $1.46 to $1.95. Zacks Investment Research’s earnings per share calculations are an average based on a survey of research firms that that provide coverage for Allegheny Technologies.
Allegheny Technologies (NYSE:ATI – Get Rating) last released its quarterly earnings results on Wednesday, May 4th. The basic materials company reported $0.40 EPS for the quarter, beating the consensus estimate of $0.22 by $0.18. Allegheny Technologies had a net margin of 0.02% and a return on equity of 11.17%. The business had revenue of $834.10 million for the quarter, compared to analyst estimates of $748.04 million. During the same period in the prior year, the business earned ($0.06) earnings per share. The company’s quarterly revenue was up 20.4% on a year-over-year basis.
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A number of analysts recently issued reports on the stock. Benchmark raised their target price on shares of Allegheny Technologies from $26.00 to $30.00 and gave the stock a “buy” rating in a research report on Friday, February 18th. KeyCorp raised their target price on shares of Allegheny Technologies from $28.00 to $31.00 and gave the stock an “overweight” rating in a research report on Monday, April 4th. Zacks Investment Research upgraded shares of Allegheny Technologies from a “hold” rating to a “strong-buy” rating and set a $26.00 target price on the stock in a research report on Tuesday, February 8th. Barclays increased their price target on shares of Allegheny Technologies from $23.00 to $29.00 and gave the stock an “overweight” rating in a research note on Monday, February 7th. Finally, StockNews.com started coverage on shares of Allegheny Technologies in a research note on Thursday, March 31st. They set a “hold” rating on the stock. Three investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Allegheny Technologies currently has an average rating of “Buy” and an average price target of $26.11.
Shares of NYSE ATI opened at $27.34 on Friday. Allegheny Technologies has a 1 year low of $13.85 and a 1 year high of $30.74. The firm’s 50 day moving average price is $27.33 and its 200 day moving average price is $22.73. The firm has a market cap of $3.39 billion, a P/E ratio of -683.50 and a beta of 1.28. The company has a debt-to-equity ratio of 2.15, a quick ratio of 1.25 and a current ratio of 2.61.
In other news, CMO Kevin B. Kramer sold 10,000 shares of the firm’s stock in a transaction on Monday, March 7th. The shares were sold at an average price of $27.00, for a total value of $270,000.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.82% of the company’s stock.
Hedge funds have recently modified their holdings of the company. First Trust Advisors LP acquired a new stake in Allegheny Technologies during the 1st quarter valued at $3,043,000. Advisor Group Holdings Inc. grew its holdings in Allegheny Technologies by 269.6% during the 3rd quarter. Advisor Group Holdings Inc. now owns 13,176 shares of the basic materials company’s stock valued at $219,000 after purchasing an additional 9,611 shares in the last quarter. Geode Capital Management LLC grew its holdings in Allegheny Technologies by 1.1% during the 3rd quarter. Geode Capital Management LLC now owns 2,129,087 shares of the basic materials company’s stock valued at $35,406,000 after purchasing an additional 23,250 shares in the last quarter. Hsbc Holdings PLC grew its holdings in Allegheny Technologies by 23.5% during the 3rd quarter. Hsbc Holdings PLC now owns 530,303 shares of the basic materials company’s stock valued at $8,978,000 after purchasing an additional 101,048 shares in the last quarter. Finally, Schroder Investment Management Group acquired a new stake in Allegheny Technologies during the 3rd quarter valued at $436,000.
About Allegheny Technologies (Get Rating)
Allegheny Technologies Incorporated manufactures and sells specialty materials and components worldwide. The company operates in two segments: High Performance Materials & Components (HPMC) and Advanced Alloys & Solutions (AA&S). The HPMC segment produces various materials, including titanium and titanium-based alloys, nickel- and cobalt-based alloys and superalloys, advanced powder alloys and other specialty materials, in long product forms, such as ingot, billet, bar, rod, wire, shapes and rectangles, and seamless tubes, as well as precision forgings, components, and machined parts.
Further Reading

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Earnings History and Estimates for Allegheny Technologies (NYSE:ATI)
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