Equities analysts forecast that Allegheny Technologies Incorporated (NYSE:ATI) will announce earnings of $0.08 per share for the current quarter, Zacks reports. Three analysts have provided estimates for Allegheny Technologies’ earnings. The highest EPS estimate is $0.19 and the lowest is $0.01. Allegheny Technologies posted earnings of ($0.21) per share in the same quarter last year, which suggests a positive year-over-year growth rate of 138.1%. The company is scheduled to report its next earnings report on Tuesday, October 24th.

According to Zacks, analysts expect that Allegheny Technologies will report full-year earnings of $0.51 per share for the current fiscal year, with EPS estimates ranging from $0.47 to $0.53. For the next financial year, analysts forecast that the company will post earnings of $1.08 per share, with EPS estimates ranging from $0.91 to $1.32. Zacks’ EPS averages are an average based on a survey of research firms that that provide coverage for Allegheny Technologies.

Allegheny Technologies (NYSE:ATI) last issued its quarterly earnings data on Tuesday, July 25th. The basic materials company reported $0.09 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.02. Allegheny Technologies had a negative net margin of 14.89% and a positive return on equity of 0.08%. The business had revenue of $880.20 million during the quarter, compared to analysts’ expectations of $874.95 million. During the same quarter in the previous year, the company earned ($0.21) EPS. The business’s revenue was up 8.6% on a year-over-year basis.

Several equities research analysts have commented on ATI shares. BidaskClub downgraded shares of Allegheny Technologies from a “hold” rating to a “sell” rating in a report on Tuesday, June 20th. Zacks Investment Research downgraded shares of Allegheny Technologies from a “hold” rating to a “sell” rating in a report on Monday, July 17th. Berenberg Bank raised shares of Allegheny Technologies from a “sell” rating to a “hold” rating and upped their price objective for the company from $16.10 to $17.20 in a report on Monday, April 24th. Cowen and Company upped their price objective on shares of Allegheny Technologies from $15.00 to $18.00 and gave the company a “market perform” rating in a report on Monday, April 17th. Finally, J P Morgan Chase & Co raised shares of Allegheny Technologies from an “underweight” rating to a “neutral” rating and upped their price objective for the company from $14.50 to $19.00 in a report on Wednesday, July 26th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $19.65.

Shares of Allegheny Technologies (NYSE:ATI) traded down 0.78% during mid-day trading on Friday, reaching $17.89. 1,218,573 shares of the company’s stock traded hands. The firm has a 50-day moving average of $17.83 and a 200 day moving average of $17.97. Allegheny Technologies has a 12-month low of $13.15 and a 12-month high of $23.69. The company’s market cap is $1.95 billion.

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Several large investors have recently made changes to their positions in ATI. Virtu KCG Holdings LLC increased its stake in shares of Allegheny Technologies by 173.9% in the second quarter. Virtu KCG Holdings LLC now owns 30,231 shares of the basic materials company’s stock worth $514,000 after buying an additional 19,194 shares during the last quarter. Quantbot Technologies LP purchased a new stake in shares of Allegheny Technologies during the second quarter worth about $1,153,000. Vanguard Group Inc. increased its stake in shares of Allegheny Technologies by 0.6% in the second quarter. Vanguard Group Inc. now owns 9,137,494 shares of the basic materials company’s stock worth $155,430,000 after buying an additional 55,412 shares during the last quarter. Northern Trust Corp increased its stake in shares of Allegheny Technologies by 1.3% in the second quarter. Northern Trust Corp now owns 2,039,311 shares of the basic materials company’s stock worth $34,690,000 after buying an additional 25,526 shares during the last quarter. Finally, D.A. Davidson & CO. increased its stake in shares of Allegheny Technologies by 2.9% in the second quarter. D.A. Davidson & CO. now owns 42,830 shares of the basic materials company’s stock worth $728,000 after buying an additional 1,195 shares during the last quarter. 96.61% of the stock is currently owned by hedge funds and other institutional investors.

Allegheny Technologies Company Profile

Allegheny Technologies Incorporated is a manufacturer of specialty materials and complex components. The Company operates through two business segments: High Performance Materials & Components (HPMC), and Flat Rolled Products (FRP). The HPMC segment produces, converts and distributes a range of materials, including titanium and titanium-based alloys, nickel- and cobalt-based alloys and superalloys, zirconium and related alloys, including hafnium and niobium, advanced powder alloys and other specialty materials, in long product forms, such as ingot, billet, bar, rod, wire, shapes and rectangles, and 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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