Allegheny Technologies Incorporated to Post Q3 2017 Earnings of $0.05 Per Share, KeyCorp Forecasts (ATI)
Allegheny Technologies Incorporated (NYSE:ATI) – Equities researchers at KeyCorp issued their Q3 2017 earnings estimates for Allegheny Technologies in a research note issued to investors on Monday. KeyCorp analyst P. Gibbs expects that the basic materials company will post earnings of $0.05 per share for the quarter. KeyCorp also issued estimates for Allegheny Technologies’ FY2017 earnings at $0.47 EPS.
Allegheny Technologies (NYSE:ATI) last issued its quarterly earnings results on Tuesday, July 25th. The basic materials company reported $0.09 EPS for the quarter, topping the Zacks’ consensus estimate of $0.07 by $0.02. Allegheny Technologies had a positive return on equity of 0.08% and a negative net margin of 14.89%. The company 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 firm posted ($0.21) EPS. The firm’s revenue was up 8.6% compared to the same quarter last year. TRADEMARK VIOLATION NOTICE: This news story was first published by The Cerbat Gem and is the property of of The Cerbat Gem. If you are viewing this news story on another publication, it was illegally stolen and republished in violation of U.S. & international copyright law. The legal version of this news story can be read at https://www.thecerbatgem.com/2017/09/01/allegheny-technologies-incorporated-to-post-q3-2017-earnings-of-0-05-per-share-keycorp-forecasts-ati.html.
ATI has been the topic of several other research reports. BidaskClub lowered Allegheny Technologies from a “hold” rating to a “sell” rating in a report on Tuesday, June 20th. Zacks Investment Research lowered Allegheny Technologies from a “hold” rating to a “sell” rating in a report on Monday, July 17th. Longbow Research reaffirmed a “buy” rating and set a $24.00 price objective on shares of Allegheny Technologies in a report on Wednesday, August 23rd. Finally, J P Morgan Chase & Co raised Allegheny Technologies from an “underweight” rating to a “neutral” rating and raised their price objective for the stock 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 assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $19.65.
Shares of Allegheny Technologies (NYSE ATI) opened at 20.83 on Wednesday. Allegheny Technologies has a 12 month low of $13.15 and a 12 month high of $23.69. The firm’s market cap is $2.27 billion. The firm’s 50-day moving average price is $18.77 and its 200-day moving average price is $17.79.
Several institutional investors have recently added to or reduced their stakes in ATI. Vanguard Group Inc. raised its position in 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 in the last quarter. Iridian Asset Management LLC CT raised its position in Allegheny Technologies by 30.7% in the second quarter. Iridian Asset Management LLC CT now owns 8,725,099 shares of the basic materials company’s stock worth $148,414,000 after buying an additional 2,047,830 shares in the last quarter. State Street Corp raised its position in Allegheny Technologies by 5.5% in the first quarter. State Street Corp now owns 5,869,035 shares of the basic materials company’s stock worth $105,408,000 after buying an additional 307,747 shares in the last quarter. Sasco Capital Inc. CT raised its position in Allegheny Technologies by 10.8% in the second quarter. Sasco Capital Inc. CT now owns 5,464,354 shares of the basic materials company’s stock worth $92,949,000 after buying an additional 531,155 shares in the last quarter. Finally, Frontier Capital Management Co. LLC raised its position in Allegheny Technologies by 17.5% in the second quarter. Frontier Capital Management Co. LLC now owns 5,405,055 shares of the basic materials company’s stock worth $91,940,000 after buying an additional 805,856 shares in the last quarter. 96.61% of the stock is currently owned by hedge funds and other institutional investors.
About Allegheny Technologies
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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