Allegheny Technologies Incorporated (NYSE:ATI) is expected to report earnings of $0.11 per share
Wall Street brokers expect Allegheny Technologies Incorporated (NYSE:ATI) to report earnings per share (EPS) of $0.11 for the current fiscal quarter, according to Zacks Investment Research. Three analysts have released earnings estimates for Allegheny Technologies, with estimates ranging from $0.06 to $0.15. Allegheny Technologies reported earnings of ($0.33) per share in the same quarter last year, which would indicate a positive growth rate of 133.3% year over year. The company is expected to release its next results before the market opens on Wednesday, February 2.
According to Zacks, analysts expect Allegheny Technologies to report full year earnings of ($0.03) per share for the current fiscal year, with EPS estimates ranging from ($0.07) to 0. $.02. For the next fiscal year, analysts expect the company to post earnings of $0.68 per share, with EPS estimates ranging from $0.51 to $0.86. Zacks Investment Research’s earnings per share calculations are an average average based on a survey of research companies that cover Allegheny Technologies.
Allegheny Technologies (NYSE:ATI) last released its quarterly results on Wednesday, October 27. The basic materials company reported EPS of $0.05 for the quarter, beating the consensus estimate of ($0.02) by $0.07. The company posted revenue of $725.70 million in the quarter, compared to $675.60 million expected by analysts. Allegheny Technologies posted a negative return on equity of 9.26% and a negative net margin of 41.94%. The company’s revenue for the quarter increased 4.0% year over year. In the same quarter of the previous year, the company posted EPS of ($0.38).
Several equity research analysts have recently weighed in on ATI shares. JPMorgan Chase & Co. upgraded Allegheny Technologies from a “neutral” rating to an “overweight” rating and lowered its price target for the company from $25.00 to $23.00 in a Friday 15th research note October. Berenberg Bank upgraded Allegheny Technologies from a “hold” rating to a “buy” rating and set a price target of $25.00 on the stock in a Friday, January 7 research note. Wolfe Research began covering Allegheny Technologies in a research note on Tuesday, November 16. They issued a “market performance” rating and a price target of $18.00 on the stock. Cowen upgraded Allegheny Technologies from a “market performer” rating to an “outperformer” rating and raised its price target for the company from $22.00 to $23.00 in a research note from the Tuesday January 11. Finally, KeyCorp cut its price target on Allegheny Technologies from $23.00 to $21.00 and set an “overweight” rating on the stock in a Tuesday, Dec. 21 research report. Two investment analysts gave the stock a hold rating and five gave the stock a buy rating. According to MarketBeat.com, Allegheny Technologies currently has an average rating of “Buy” and an average target price of $22.57.
A number of hedge funds and other institutional investors have recently increased or reduced their stake in ATI. FMR LLC increased its position in Allegheny Technologies by 541,504.0% during the second quarter. FMR LLC now owns 3,504,178 shares of the basic materials company worth $73,062,000 after acquiring 3,503,531 additional shares in the last quarter. Capital International Investors increased its stake in Allegheny Technologies by 7.9% in the second quarter. Capital International Investors now owns 10,776,721 shares of the basic materials company worth $224,695,000 after buying an additional 788,343 shares last quarter. State Street Corp increased its stake in Allegheny Technologies by 9.0% in the second quarter. State Street Corp now owns 8,660,621 shares of the basic materials company worth $180,574,000 after buying an additional 718,340 shares last quarter. Point72 Asset Management LP acquired a new position in Allegheny Technologies during Q3 worth $10,773,000. Finally, Neuberger Berman Group LLC increased its stake in Allegheny Technologies by 43.0% in the 3rd quarter. Neuberger Berman Group LLC now owns 2,024,619 shares of the basic materials company worth $33,667,000 after purchasing an additional 609,259 shares last quarter.
Allegheny Technologies stock opened Monday at $18.41. The company has a 50-day moving average price of $16.79 and a two-hundred-day moving average price of $17.44. The company has a quick ratio of 1.35, a current ratio of 2.23 and a debt ratio of 2.48. The stock has a market capitalization of $2.34 billion, a price-earnings ratio of -2.06 and a beta of 1.66. Allegheny Technologies has a 12-month low of $13.85 and a 12-month high of $25.03.
Allegheny Technologies Company Profile
Allegheny Technologies, Inc. engages in the manufacture of specialty materials and components. It operates through High Performance Materials & Components (HPMC) and Advanced Alloys & Solutions (AA&S) segments. The HPMC segment includes the production of materials, parts and components for the aerospace and defense, medical and energy markets.
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