Allegheny Technologies Incorporated (ATI) Expected to Post Earnings of $0.07 Per Share
Equities research analysts expect Allegheny Technologies Incorporated (NYSE:ATI) to post $0.07 earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for Allegheny Technologies’ earnings, with the lowest EPS estimate coming in at $0.05 and the highest estimate coming in at $0.09. Allegheny Technologies reported earnings per share of ($0.21) during the same quarter last year, which would suggest a positive year over year growth rate of 133.3%. The business is scheduled to announce its next earnings report before the market opens on Tuesday, July 25th.
According to Zacks, analysts expect that Allegheny Technologies will report full year earnings of $0.58 per share for the current year, with EPS estimates ranging from $0.52 to $0.63. For the next year, analysts anticipate that the company will report earnings of $1.07 per share, with EPS estimates ranging from $0.91 to $1.32. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side analysts that follow Allegheny Technologies.
Allegheny Technologies (NYSE:ATI) last announced its earnings results on Tuesday, July 25th. The basic materials company reported $0.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.07 by $0.02. The company had revenue of $880.20 million for the quarter, compared to analyst estimates of $874.95 million. Allegheny Technologies had a negative return on equity of 1.84% and a negative net margin of 16.10%. Allegheny Technologies’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.21) earnings per share.
ATI has been the topic of several research analyst reports. BidaskClub downgraded Allegheny Technologies from a “hold” rating to a “sell” rating in a research note on Tuesday, June 20th. Zacks Investment Research downgraded Allegheny Technologies from a “hold” rating to a “sell” rating in a research note on Monday, July 17th. Berenberg Bank raised Allegheny Technologies from a “sell” rating to a “hold” rating and raised their price objective for the stock from $16.10 to $17.20 in a research note on Monday, April 24th. Finally, Cowen and Company raised their price objective on Allegheny Technologies from $15.00 to $18.00 and gave the stock a “market perform” rating in a research note on Monday, April 17th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company. Allegheny Technologies presently has a consensus rating of “Hold” and a consensus target price of $19.74.
Allegheny Technologies (NYSE ATI) traded up 10.15% on Tuesday, reaching $18.88. The company had a trading volume of 3,920,721 shares. The firm has a 50 day moving average price of $17.03 and a 200-day moving average price of $17.79. Allegheny Technologies has a 12 month low of $13.15 and a 12 month high of $23.69. The stock’s market capitalization is $2.05 billion.
Institutional investors have recently made changes to their positions in the stock. Nisa Investment Advisors LLC boosted its position 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 during the last quarter. Neuburgh Advisers LLC boosted its position in Allegheny Technologies by 1.1% in the first quarter. Neuburgh Advisers LLC now owns 6,528 shares of the basic materials company’s stock worth $117,000 after buying an additional 68 shares during the last quarter. Financial Architects Inc boosted its position in Allegheny Technologies by 180.0% in the second quarter. Financial Architects Inc now owns 7,000 shares of the basic materials company’s stock worth $119,000 after buying an additional 4,500 shares during the last quarter. Creative Planning boosted its position in Allegheny Technologies by 2,619.9% in the second quarter. Creative Planning now owns 7,534 shares of the basic materials company’s stock worth $128,000 after buying an additional 7,257 shares during the last quarter. Finally, LS Investment Advisors LLC boosted its position in Allegheny Technologies by 24.1% in the second quarter. LS Investment Advisors LLC now owns 8,982 shares of the basic materials company’s stock worth $153,000 after buying an additional 1,745 shares during the last quarter. Institutional investors own 96.61% of the company’s stock.
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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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