$932.61 Million in Sales Expected for Allegheny Technologies Incorporated (ATI) This Quarter

Equities analysts forecast that Allegheny Technologies Incorporated (NYSE:ATI) will post $932.61 million in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for Allegheny Technologies’ earnings, with estimates ranging from $884.00 million to $981.98 million. Allegheny Technologies reported sales of $865.90 million in the same quarter last year, which indicates a positive year-over-year growth rate of 7.7%. The firm is expected to issue its next quarterly earnings report on Tuesday, April 24th.

According to Zacks, analysts expect that Allegheny Technologies will report full year sales of $932.61 million for the current year, with estimates ranging from $3.73 billion to $3.91 billion. For the next fiscal year, analysts expect that the company will post sales of $4.08 billion per share, with estimates ranging from $3.86 billion to $4.19 billion. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that follow Allegheny Technologies.

Allegheny Technologies (NYSE:ATI) last posted its earnings results on Tuesday, January 23rd. The basic materials company reported $0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.15 by $0.12. Allegheny Technologies had a positive return on equity of 3.47% and a negative net margin of 2.61%. The business had revenue of $909.90 million during the quarter, compared to analyst estimates of $898.22 million. During the same quarter last year, the firm earned ($0.04) earnings per share. The company’s revenue for the quarter was up 14.3% compared to the same quarter last year.

A number of equities research analysts have recently issued reports on ATI shares. Berenberg Bank set a $17.00 target price on Allegheny Technologies and gave the company a “hold” rating in a research note on Thursday, October 19th. Cowen reissued a “hold” rating and issued a $23.00 price target on shares of Allegheny Technologies in a report on Tuesday, December 12th. Zacks Investment Research downgraded Allegheny Technologies from a “hold” rating to a “sell” rating in a report on Monday, January 15th. KeyCorp reissued a “hold” rating on shares of Allegheny Technologies in a report on Thursday, November 16th. Finally, Buckingham Research increased their price target on Allegheny Technologies from $30.00 to $40.00 and gave the company a “buy” rating in a report on Friday, January 26th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the stock. Allegheny Technologies currently has a consensus rating of “Hold” and a consensus target price of $26.50.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Thrivent Financial For Lutherans boosted its holdings in Allegheny Technologies by 6.0% in the second quarter. Thrivent Financial For Lutherans now owns 21,930 shares of the basic materials company’s stock valued at $373,000 after purchasing an additional 1,250 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Allegheny Technologies by 42.4% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,625 shares of the basic materials company’s stock worth $184,000 after buying an additional 2,269 shares during the last quarter. Bbva Compass Bancshares Inc. lifted its holdings in Allegheny Technologies by 5.9% during the 3rd quarter. Bbva Compass Bancshares Inc. now owns 45,239 shares of the basic materials company’s stock worth $1,082,000 after buying an additional 2,530 shares during the last quarter. Louisiana State Employees Retirement System lifted its holdings in Allegheny Technologies by 9.3% during the 4th quarter. Louisiana State Employees Retirement System now owns 31,800 shares of the basic materials company’s stock worth $768,000 after buying an additional 2,700 shares during the last quarter. Finally, First Mercantile Trust Co. lifted its holdings in Allegheny Technologies by 10.6% during the 4th quarter. First Mercantile Trust Co. now owns 30,745 shares of the basic materials company’s stock worth $742,000 after buying an additional 2,941 shares during the last quarter. 96.18% of the stock is owned by hedge funds and other institutional investors.

Shares of Allegheny Technologies (NYSE ATI) opened at $26.25 on Monday. The company has a quick ratio of 1.04, a current ratio of 2.69 and a debt-to-equity ratio of 0.83. Allegheny Technologies has a 12 month low of $14.54 and a 12 month high of $30.25. The stock has a market capitalization of $2,860.00, a PE ratio of -29.17 and a beta of 2.44.

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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.

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

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