Equities analysts expect Allegheny Technologies Incorporated (NYSE:ATI) to post sales of $978.35 million for the current fiscal quarter, according to Zacks Investment Research. Three analysts have issued estimates for Allegheny Technologies’ earnings, with estimates ranging from $968.75 million to $990.00 million. Allegheny Technologies posted sales of $979.00 million in the same quarter last year, which suggests a negative year-over-year growth rate of 0.1%. The company is scheduled to report its next quarterly earnings report before the market opens on Tuesday, April 23rd.
On average, analysts expect that Allegheny Technologies will report full-year sales of $4.23 billion for the current financial year, with estimates ranging from $4.13 billion to $4.45 billion. For the next financial year, analysts expect that the business will post sales of $4.59 billion, with estimates ranging from $4.33 billion to $5.04 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that that provide coverage for Allegheny Technologies.
Allegheny Technologies (NYSE:ATI) last released its quarterly earnings results on Tuesday, January 22nd. The basic materials company reported $0.30 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.33 by ($0.03). The business had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $991.88 million. Allegheny Technologies had a net margin of 5.50% and a return on equity of 10.28%. The business’s quarterly revenue was up 14.1% on a year-over-year basis. During the same period last year, the firm posted $0.27 EPS.
NYSE:ATI traded down $0.33 during midday trading on Friday, hitting $25.72. 1,699,404 shares of the stock were exchanged, compared to its average volume of 1,645,529. Allegheny Technologies has a one year low of $20.84 and a one year high of $30.18. The stock has a market cap of $3.24 billion, a price-to-earnings ratio of 17.03, a PEG ratio of 0.99 and a beta of 2.39. The company has a debt-to-equity ratio of 0.77, a current ratio of 2.68 and a quick ratio of 1.24.
In other Allegheny Technologies news, Director Barabara S. Jeremiah sold 7,500 shares of Allegheny Technologies stock in a transaction that occurred on Thursday, January 24th. The shares were sold at an average price of $25.61, for a total value of $192,075.00. Following the transaction, the director now owns 33,833 shares in the company, valued at $866,463.13. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Richard J. Harshman sold 7,140 shares of Allegheny Technologies stock in a transaction that occurred on Thursday, February 21st. The stock was sold at an average price of $28.99, for a total transaction of $206,988.60. The disclosure for this sale can be found here. In the last three months, insiders have sold 45,628 shares of company stock worth $1,301,542. 1.06% of the stock is owned by corporate insiders.
A number of institutional investors have recently bought and sold shares of the business. Shine Investment Advisory Services Inc. grew its position in Allegheny Technologies by 123.5% in the first quarter. Shine Investment Advisory Services Inc. now owns 1,133 shares of the basic materials company’s stock worth $29,000 after buying an additional 626 shares during the last quarter. ICM Asset Management Inc. WA grew its position in Allegheny Technologies by 1.3% in the first quarter. ICM Asset Management Inc. WA now owns 170,865 shares of the basic materials company’s stock worth $4,369,000 after buying an additional 2,130 shares during the last quarter. Sciencast Management LP acquired a new position in Allegheny Technologies in the first quarter worth approximately $454,000. Retirement Systems of Alabama grew its position in Allegheny Technologies by 0.4% in the first quarter. Retirement Systems of Alabama now owns 163,609 shares of the basic materials company’s stock worth $4,183,000 after buying an additional 653 shares during the last quarter. Finally, First Manhattan Co. acquired a new position in Allegheny Technologies in the first quarter worth approximately $85,000.
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 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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