Zacks: Brokerages Anticipate Allegheny Technologies Incorporated (ATI) to Announce $0.17 EPS

Wall Street analysts forecast that Allegheny Technologies Incorporated (NYSE:ATI) will post earnings of $0.17 per share for the current quarter, according to Zacks Investment Research. Three analysts have provided estimates for Allegheny Technologies’ earnings. The lowest EPS estimate is $0.11 and the highest is $0.24. Allegheny Technologies posted earnings of $0.32 per share during the same quarter last year, which would suggest a negative year-over-year growth rate of 46.9%. The business is expected to issue its next quarterly earnings report before the market opens on Tuesday, April 23rd.

According to Zacks, analysts expect that Allegheny Technologies will report full-year earnings of $1.71 per share for the current year, with EPS estimates ranging from $1.50 to $1.85. For the next financial year, analysts expect that the business will report earnings of $2.52 per share, with EPS estimates ranging from $2.35 to $2.65. Zacks Investment Research’s earnings per share averages are an average based on a survey of research firms that cover Allegheny Technologies.

Allegheny Technologies (NYSE:ATI) last announced its earnings results on Tuesday, January 22nd. The basic materials company reported $0.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.33 by ($0.03). Allegheny Technologies had a net margin of 5.50% and a return on equity of 10.28%. The business had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $991.88 million. During the same period in the prior year, the business earned $0.27 earnings per share. The company’s revenue for the quarter was up 14.1% compared to the same quarter last year.

Several brokerages recently weighed in on ATI. Macquarie lowered Allegheny Technologies from an “outperform” rating to a “neutral” rating and decreased their price objective for the stock from $34.00 to $28.00 in a report on Friday, April 12th. Zacks Investment Research raised Allegheny Technologies from a “sell” rating to a “hold” rating in a report on Tuesday, April 9th. Buckingham Research set a $45.00 price objective on Allegheny Technologies and gave the stock a “buy” rating in a report on Monday, April 8th. Finally, ValuEngine raised Allegheny Technologies from a “sell” rating to a “hold” rating in a report on Wednesday, March 20th. Five investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $33.36.

Shares of Allegheny Technologies stock traded down $0.01 during trading hours on Friday, hitting $26.00. 40,908 shares of the company’s stock traded hands, compared to its average volume of 1,612,152. Allegheny Technologies has a 12-month low of $20.84 and a 12-month high of $30.18. The firm has a market cap of $3.28 billion, a PE ratio of 17.22, a P/E/G ratio of 0.99 and a beta of 2.39. The company has a debt-to-equity ratio of 0.77, a current ratio of 2.68 and a quick ratio of 1.24.

In other Allegheny Technologies news, Director Barabara S. Jeremiah sold 7,500 shares of the firm’s stock in a transaction dated Thursday, January 24th. The stock was sold at an average price of $25.61, for a total value of $192,075.00. Following the completion of the transaction, the director now owns 33,833 shares in the company, valued at approximately $866,463.13. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Richard J. Harshman sold 7,140 shares of the firm’s stock in a transaction dated Thursday, February 21st. The stock was sold at an average price of $28.99, for a total value of $206,988.60. The disclosure for this sale can be found here. In the last three months, insiders sold 45,628 shares of company stock valued at $1,301,542. 1.06% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Retirement Systems of Alabama increased its stake in Allegheny Technologies by 0.3% during the 4th quarter. Retirement Systems of Alabama now owns 162,956 shares of the basic materials company’s stock worth $3,548,000 after buying an additional 533 shares in the last quarter. Shine Investment Advisory Services Inc. boosted its stake in shares of Allegheny Technologies by 123.5% during the first quarter. Shine Investment Advisory Services Inc. now owns 1,133 shares of the basic materials company’s stock worth $29,000 after buying an additional 626 shares during the period. Oregon Public Employees Retirement Fund boosted its stake in shares of Allegheny Technologies by 1.4% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 50,237 shares of the basic materials company’s stock worth $1,094,000 after buying an additional 697 shares during the period. Arizona State Retirement System boosted its stake in shares of Allegheny Technologies by 1.1% during the fourth quarter. Arizona State Retirement System now owns 90,208 shares of the basic materials company’s stock worth $1,964,000 after buying an additional 966 shares during the period. Finally, Private Capital Group LLC boosted its stake in shares of Allegheny Technologies by 336.2% during the fourth quarter. Private Capital Group LLC now owns 1,348 shares of the basic materials company’s stock worth $29,000 after buying an additional 1,039 shares during the period.

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

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