$0.23 EPS Expected for Allegheny Technologies (ATI) This Quarter

Equities research analysts expect that Allegheny Technologies (NYSE:ATI) will announce $0.23 earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. Three analysts have made estimates for Allegheny Technologies’ earnings, with estimates ranging from $0.18 to $0.27. Allegheny Technologies reported earnings per share of $0.16 during the same quarter last year, which suggests a positive year over year growth rate of 43.8%. The company is scheduled to report its next earnings results before the market opens on Tuesday, April 24th.

According to Zacks, analysts expect that Allegheny Technologies will report full year earnings of $1.26 per share for the current year, with EPS estimates ranging from $1.05 to $1.36. For the next year, analysts expect that the firm will post earnings of $1.89 per share, with EPS estimates ranging from $1.69 to $2.05. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research analysts that that provide coverage for Allegheny Technologies.

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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, topping the Thomson Reuters’ consensus estimate of $0.15 by $0.12. Allegheny Technologies had a negative net margin of 2.61% and a positive return on equity of 3.47%. The firm had revenue of $909.90 million during the quarter, compared to analyst estimates of $898.22 million. During the same quarter in the prior year, the business posted ($0.04) EPS. The business’s revenue was up 14.3% compared to the same quarter last year.

Several analysts have recently issued reports on ATI shares. KeyCorp set a $31.00 target price on shares of Allegheny Technologies and gave the stock a “buy” rating in a research note on Tuesday, April 3rd. Goldman Sachs initiated coverage on shares of Allegheny Technologies in a research note on Tuesday, March 20th. They issued a “sell” rating and a $26.00 target price for the company. Cowen restated a “buy” rating and set a $32.00 price target on shares of Allegheny Technologies in a research report on Tuesday, January 23rd. Bank of America restated a “neutral” rating and set a $32.00 price target on shares of Allegheny Technologies in a research report on Wednesday, January 24th. They noted that the move was a valuation call. Finally, Buckingham Research increased their price target on shares of Allegheny Technologies from $30.00 to $40.00 and gave the company a “buy” rating in a research report on Friday, January 26th. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $28.89.

Shares of NYSE ATI traded up $0.50 during trading on Monday, hitting $24.35. The stock had a trading volume of 1,548,519 shares, compared to its average volume of 1,985,620. Allegheny Technologies has a 12 month low of $14.54 and a 12 month high of $30.25. The company has a debt-to-equity ratio of 0.83, a current ratio of 2.69 and a quick ratio of 1.04. The firm has a market cap of $2,997.01, a price-to-earnings ratio of 50.73 and a beta of 2.39.

A number of institutional investors and hedge funds have recently bought and sold shares of ATI. Frontier Capital Management Co. LLC grew its position in Allegheny Technologies by 35.7% during the fourth quarter. Frontier Capital Management Co. LLC now owns 7,848,107 shares of the basic materials company’s stock valued at $189,453,000 after buying an additional 2,065,137 shares during the period. Ameriprise Financial Inc. grew its position in Allegheny Technologies by 90.8% during the third quarter. Ameriprise Financial Inc. now owns 1,308,042 shares of the basic materials company’s stock valued at $31,264,000 after buying an additional 622,591 shares during the period. Emerald Advisers Inc. PA grew its position in Allegheny Technologies by 190.9% during the fourth quarter. Emerald Advisers Inc. PA now owns 941,793 shares of the basic materials company’s stock valued at $22,735,000 after buying an additional 618,060 shares during the period. Anchor Bolt Capital LP bought a new position in Allegheny Technologies during the third quarter valued at about $14,174,000. Finally, Millennium Management LLC lifted its holdings in Allegheny Technologies by 15.9% during the fourth quarter. Millennium Management LLC now owns 3,177,259 shares of the basic materials company’s stock valued at $76,699,000 after purchasing an additional 436,832 shares during the last quarter.

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Allegheny Technologies Company Profile

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, converts, and distributes a range of 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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