Allegheny Technologies (ATI) Posts Quarterly Earnings Results

Allegheny Technologies (NYSE:ATI) announced its earnings results on Tuesday, October 23rd. The basic materials company reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.02), MarketWatch Earnings reports. The firm had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1 billion. Allegheny Technologies had a net margin of 4.67% and a return on equity of 10.15%. Allegheny Technologies’s revenue was up 17.4% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.07) EPS.

Shares of ATI opened at $28.28 on Wednesday. Allegheny Technologies has a twelve month low of $21.01 and a twelve month high of $30.25. The company has a market capitalization of $3.46 billion, a price-to-earnings ratio of 58.92 and a beta of 2.37. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.21 and a current ratio of 2.90.

In other Allegheny Technologies news, VP Karl D. Schwartz sold 1,000 shares of Allegheny Technologies stock in a transaction that occurred on Monday, September 17th. The stock was sold at an average price of $26.79, for a total value of $26,790.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders sold a total of 3,000 shares of company stock worth $79,790 in the last ninety days. 1.00% of the stock is owned by corporate insiders.

A number of research analysts recently issued reports on ATI shares. Longbow Research upgraded Allegheny Technologies from a “neutral” rating to a “buy” rating and set a $34.00 target price for the company in a report on Tuesday. Buckingham Research lifted their target price on Allegheny Technologies from $40.00 to $43.00 and gave the company a “buy” rating in a report on Wednesday, August 8th. Bank of America set a $34.00 target price on Allegheny Technologies and gave the company a “buy” rating in a report on Wednesday, July 25th. Zacks Investment Research cut Allegheny Technologies from a “buy” rating to a “hold” rating in a research note on Wednesday, September 12th. Finally, KeyCorp raised their price target on Allegheny Technologies from $31.00 to $32.00 and gave the company a “buy” rating in a research note on Thursday, July 26th. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $33.56.

COPYRIGHT VIOLATION WARNING: This article was originally posted by Enterprise Leader and is owned by of Enterprise Leader. If you are viewing this article on another publication, it was copied illegally and republished in violation of United States and international copyright legislation. The original version of this article can be read at https://theenterpriseleader.com/2018/11/07/allegheny-technologies-ati-posts-quarterly-earnings-results-misses-expectations-by-0-02-eps.html.

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, converts, and distributes a range of 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.

Featured Article: Moving Average – How it Helps Investors in Stock Selection

Earnings History for Allegheny Technologies (NYSE:ATI)

Receive News & Ratings for Allegheny Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Allegheny Technologies and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply