Wall Street analysts expect Allegheny Technologies Incorporated (NYSE:ATI) to announce sales of $999.56 million for the current quarter, according to Zacks. Three analysts have provided estimates for Allegheny Technologies’ earnings, with the highest sales estimate coming in at $1.01 billion and the lowest estimate coming in at $994.60 million. Allegheny Technologies posted sales of $1.04 billion during the same quarter last year, which would indicate a negative year-over-year growth rate of 3.9%. The company is expected to issue its next earnings report on Tuesday, January 28th.

According to Zacks, analysts expect that Allegheny Technologies will report full-year sales of $4.10 billion for the current financial year, with estimates ranging from $4.10 billion to $4.11 billion. For the next financial year, analysts forecast that the company will post sales of $4.22 billion, with estimates ranging from $4.15 billion to $4.34 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that follow Allegheny Technologies.

Allegheny Technologies (NYSE:ATI) last issued its quarterly earnings data on Thursday, October 31st. The basic materials company reported $0.78 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.33 by $0.45. The firm had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1.01 billion. Allegheny Technologies had a net margin of 5.85% and a return on equity of 7.38%. Allegheny Technologies’s revenue for the quarter was down .1% on a year-over-year basis. During the same period in the prior year, the company posted $0.37 earnings per share.

ATI has been the subject of several recent analyst reports. TheStreet upgraded Allegheny Technologies from a “c+” rating to a “b” rating in a research note on Friday, November 15th. Longbow Research downgraded Allegheny Technologies from a “neutral” rating to an “underperform” rating and set a $18.00 price objective on the stock. in a research note on Tuesday, October 15th. Cowen restated a “buy” rating and issued a $32.00 target price on shares of Allegheny Technologies in a report on Monday, August 12th. Goldman Sachs Group raised Allegheny Technologies from a “neutral” rating to a “buy” rating and set a $25.00 target price for the company in a research report on Thursday, October 10th. Finally, Cfra raised Allegheny Technologies from a “hold” rating to a “buy” rating in a research report on Thursday, October 31st. One analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $27.25.

A number of hedge funds have recently added to or reduced their stakes in ATI. First Trust Advisors LP bought a new position in shares of Allegheny Technologies in the first quarter worth about $3,043,000. Nisa Investment Advisors LLC grew its holdings in Allegheny Technologies by 35.3% in the 2nd quarter. Nisa Investment Advisors LLC now owns 3,830 shares of the basic materials company’s stock valued at $97,000 after buying an additional 1,000 shares during the last quarter. OLD National Bancorp IN grew its holdings in Allegheny Technologies by 5.8% in the 2nd quarter. OLD National Bancorp IN now owns 22,427 shares of the basic materials company’s stock valued at $565,000 after buying an additional 1,232 shares during the last quarter. Oregon Public Employees Retirement Fund increased its position in Allegheny Technologies by 1.4% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 50,955 shares of the basic materials company’s stock worth $1,284,000 after buying an additional 718 shares during the period. Finally, First Business Financial Services Inc. bought a new position in Allegheny Technologies in the 2nd quarter worth approximately $361,000.

NYSE ATI traded down $0.49 during trading on Thursday, hitting $23.07. 650,711 shares of the company traded hands, compared to its average volume of 1,540,814. Allegheny Technologies has a 12 month low of $17.03 and a 12 month high of $29.50. The business has a fifty day simple moving average of $22.06 and a 200 day simple moving average of $21.88. The company has a market capitalization of $2.91 billion, a P/E ratio of 15.28, a PEG ratio of 1.29 and a beta of 2.31. The company has a current ratio of 3.17, a quick ratio of 1.64 and a debt-to-equity ratio of 0.68.

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

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