Allegheny Technologies Incorporated (ATI) Expected to Announce Quarterly Sales of $896.00 Million
Equities research analysts forecast that Allegheny Technologies Incorporated (NYSE:ATI) will announce sales of $896.00 million for the current quarter, according to Zacks. Four analysts have provided estimates for Allegheny Technologies’ earnings, with the highest sales estimate coming in at $928.48 million and the lowest estimate coming in at $871.20 million. Allegheny Technologies posted sales of $796.10 million during the same quarter last year, which suggests a positive year-over-year growth rate of 12.5%. The company is expected to issue its next earnings report on Tuesday, January 23rd.
On average, analysts expect that Allegheny Technologies will report full-year sales of $896.00 million for the current fiscal year, with estimates ranging from $3.49 billion to $3.54 billion. For the next fiscal year, analysts forecast that the company will post sales of $3.80 billion per share, with estimates ranging from $3.61 billion to $4.05 billion. Zacks’ sales averages are an average based on a survey of sell-side research analysts that cover Allegheny Technologies.
Allegheny Technologies (NYSE:ATI) last released its quarterly earnings results on Tuesday, October 24th. The basic materials company reported ($0.07) earnings per share for the quarter, hitting the consensus estimate of ($0.07). Allegheny Technologies had a negative net margin of 2.45% and a positive return on equity of 1.09%. The firm had revenue of $869.10 million for the quarter, compared to analysts’ expectations of $866.94 million. During the same quarter in the prior year, the firm posted ($0.21) earnings per share. The business’s quarterly revenue was up 12.8% on a year-over-year basis.
Hedge funds and other institutional investors have recently bought and sold shares of the business. LMR Partners LLP purchased a new stake in Allegheny Technologies during the second quarter valued at about $493,000. Neuberger Berman Group LLC boosted its position in Allegheny Technologies by 50.3% during the second quarter. Neuberger Berman Group LLC now owns 1,472,402 shares of the basic materials company’s stock valued at $25,046,000 after buying an additional 492,540 shares during the period. Verition Fund Management LLC purchased a new stake in Allegheny Technologies during the second quarter valued at about $281,000. Oppenheimer & Co. Inc. boosted its position in Allegheny Technologies by 38.7% during the second quarter. Oppenheimer & Co. Inc. now owns 32,889 shares of the basic materials company’s stock valued at $560,000 after buying an additional 9,184 shares during the period. Finally, BNP Paribas Arbitrage SA boosted its position in Allegheny Technologies by 110.5% during the second quarter. BNP Paribas Arbitrage SA now owns 153,331 shares of the basic materials company’s stock valued at $2,608,000 after buying an additional 80,478 shares during the period.
Shares of Allegheny Technologies (ATI) traded down $0.73 during trading hours on Wednesday, reaching $22.12. 2,358,200 shares of the company traded hands, compared to its average volume of 2,377,324. Allegheny Technologies has a one year low of $14.54 and a one year high of $26.59. The stock has a market capitalization of $2,487.52, a price-to-earnings ratio of 163.21 and a beta of 2.38. The company has a debt-to-equity ratio of 1.30, a current ratio of 2.68 and a quick ratio of 1.04.
About Allegheny Technologies
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Allegheny Technologies Incorporated Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Allegheny Technologies Incorporated and related companies with MarketBeat.com's FREE daily email newsletter.