Allegheny Technologies Incorporated (ATI) Expected to Post Quarterly Sales of $982.46 Million

Equities analysts expect that Allegheny Technologies Incorporated (NYSE:ATI) will announce sales of $982.46 million for the current fiscal quarter, Zacks reports. Four analysts have issued estimates for Allegheny Technologies’ earnings. The lowest sales estimate is $969.96 million and the highest is $998.10 million. Allegheny Technologies reported sales of $909.90 million in the same quarter last year, which indicates a positive year over year growth rate of 8%. The business is scheduled to issue its next earnings report on Tuesday, January 22nd.

According to Zacks, analysts expect that Allegheny Technologies will report full year sales of $3.99 billion for the current fiscal year, with estimates ranging from $3.98 billion to $4.01 billion. For the next financial year, analysts expect that the firm will post sales of $4.20 billion, with estimates ranging from $4.14 billion to $4.24 billion. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for Allegheny Technologies.

Allegheny Technologies (NYSE:ATI) last issued its earnings results on Tuesday, October 23rd. The basic materials company reported $0.37 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.39 by ($0.02). The business had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1 billion. Allegheny Technologies had a return on equity of 10.15% and a net margin of 4.67%. The firm’s revenue was up 17.4% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.07) EPS.

Several research analysts have commented on ATI shares. Zacks Investment Research downgraded Allegheny Technologies from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 25th. Longbow Research raised Allegheny Technologies from a “neutral” rating to a “buy” rating and set a $34.00 target price for the company in a research note on Tuesday, November 6th. Cowen reissued a “buy” rating and set a $35.00 target price on shares of Allegheny Technologies in a research note on Monday, September 17th. ValuEngine raised Allegheny Technologies from a “sell” rating to a “hold” rating in a research note on Monday, September 17th. Finally, JPMorgan Chase & Co. raised Allegheny Technologies from an “underweight” rating to a “neutral” rating and set a $28.00 target price for the company in a research note on Wednesday, October 24th. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $33.56.

NYSE ATI traded up $0.05 during trading on Tuesday, hitting $26.26. 824,985 shares of the company’s stock were exchanged, compared to its average volume of 1,697,502. The company has a current ratio of 2.90, a quick ratio of 1.21 and a debt-to-equity ratio of 0.74. The company has a market cap of $3.33 billion, a price-to-earnings ratio of 54.71, a PEG ratio of 1.12 and a beta of 2.37. Allegheny Technologies has a fifty-two week low of $21.53 and a fifty-two week high of $30.25.

In other news, VP Karl D. Schwartz sold 1,000 shares of the business’s stock in a transaction dated Monday, October 15th. The stock was sold at an average price of $27.10, for a total transaction of $27,100.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 1.00% of the company’s stock.

Hedge funds have recently made changes to their positions in the stock. MAI Capital Management bought a new stake in Allegheny Technologies in the second quarter valued at approximately $207,000. Fernwood Investment Management LLC bought a new position in shares of Allegheny Technologies during the 3rd quarter worth approximately $207,000. Commonwealth Equity Services LLC bought a new position in shares of Allegheny Technologies during the 2nd quarter worth approximately $219,000. First Hawaiian Bank bought a new position in shares of Allegheny Technologies during the 3rd quarter worth approximately $225,000. Finally, IndexIQ Advisors LLC boosted its holdings in shares of Allegheny Technologies by 57.4% during the 2nd quarter. IndexIQ Advisors LLC now owns 9,311 shares of the basic materials company’s stock worth $234,000 after buying an additional 3,397 shares in the last quarter.

About Allegheny Technologies

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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