Allegheny Technologies Incorporated (NYSE:ATI) Expected to Announce Quarterly Sales of $1.07 Billion

Equities analysts expect Allegheny Technologies Incorporated (NYSE:ATI) to report sales of $1.07 billion for the current quarter, according to Zacks Investment Research. Four analysts have made estimates for Allegheny Technologies’ earnings. The highest sales estimate is $1.10 billion and the lowest is $1.05 billion. Allegheny Technologies posted sales of $1.01 billion in the same quarter last year, which indicates a positive year over year growth rate of 5.9%. The business is scheduled to announce its next quarterly earnings report on Tuesday, July 23rd.

On average, analysts expect that Allegheny Technologies will report full-year sales of $4.26 billion for the current year, with estimates ranging from $4.14 billion to $4.47 billion. For the next fiscal year, analysts forecast that the firm will post sales of $4.54 billion, with estimates ranging from $4.32 billion to $5.06 billion. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for Allegheny Technologies.

Allegheny Technologies (NYSE:ATI) last released its quarterly earnings data on Tuesday, April 23rd. The basic materials company reported $0.12 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.12. The company had revenue of $1 billion for the quarter, compared to analyst estimates of $991.18 million. Allegheny Technologies had a return on equity of 8.79% and a net margin of 4.41%. The firm’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.32 earnings per share.

Several equities analysts have recently commented on ATI shares. KeyCorp upped their price target on Allegheny Technologies from $33.00 to $34.00 and gave the company an “overweight” rating in a research note on Wednesday, April 24th. Macquarie lowered Allegheny Technologies from an “outperform” rating to a “neutral” rating and decreased their price target for the company from $34.00 to $28.00 in a research note on Friday, April 12th. ValuEngine lowered Allegheny Technologies from a “hold” rating to a “sell” rating in a research note on Monday, March 11th. Buckingham Research decreased their price target on Allegheny Technologies from $45.00 to $40.00 and set a “buy” rating on the stock in a research note on Thursday, April 18th. Finally, Zacks Investment Research raised Allegheny Technologies from a “sell” rating to a “hold” rating in a research note on Tuesday, April 9th. One analyst has rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $32.20.

In related news, Director James C. Diggs sold 4,000 shares of the business’s stock in a transaction on Monday, June 17th. The stock was sold at an average price of $23.65, for a total value of $94,600.00. Following the sale, the director now owns 36,458 shares in the company, valued at approximately $862,231.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.06% of the stock is currently owned by insiders.

Hedge funds have recently bought and sold shares of the stock. Dupont Capital Management Corp purchased a new stake in Allegheny Technologies during the fourth quarter worth about $239,000. Comerica Bank increased its holdings in Allegheny Technologies by 2.2% during the fourth quarter. Comerica Bank now owns 83,257 shares of the basic materials company’s stock worth $2,168,000 after buying an additional 1,767 shares during the last quarter. Oregon Public Employees Retirement Fund increased its holdings in Allegheny Technologies by 1.4% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 50,237 shares of the basic materials company’s stock worth $1,094,000 after buying an additional 697 shares during the last quarter. Whittier Trust Co. purchased a new stake in Allegheny Technologies during the fourth quarter worth about $59,000. Finally, Virginia Retirement Systems ET AL increased its holdings in Allegheny Technologies by 57.8% during the fourth quarter. Virginia Retirement Systems ET AL now owns 34,400 shares of the basic materials company’s stock worth $749,000 after buying an additional 12,600 shares during the last quarter.

Shares of Allegheny Technologies stock opened at $24.79 on Friday. Allegheny Technologies has a 52 week low of $20.84 and a 52 week high of $30.18. The firm has a market capitalization of $3.13 billion, a PE ratio of 16.42, a price-to-earnings-growth ratio of 1.10 and a beta of 2.32. The company has a current ratio of 2.87, a quick ratio of 1.22 and a debt-to-equity ratio of 0.75.

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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