Allegheny Technologies Incorporated (NYSE:ATI) Expected to Announce Quarterly Sales of $1.06 Billion

Analysts expect that Allegheny Technologies Incorporated (NYSE:ATI) will post $1.06 billion in sales for the current quarter, according to Zacks Investment Research. Three analysts have provided estimates for Allegheny Technologies’ earnings. The lowest sales estimate is $1.04 billion and the highest is $1.08 billion. Allegheny Technologies reported sales of $1.01 billion during the same quarter last year, which would suggest a positive year over year growth rate of 5%. The business is expected to announce its next earnings report before the market opens on Tuesday, July 23rd.

According to Zacks, analysts expect that Allegheny Technologies will report full-year sales of $4.17 billion for the current financial year, with estimates ranging from $4.08 billion to $4.24 billion. For the next financial year, analysts expect that the company will post sales of $4.32 billion, with estimates ranging from $4.18 billion to $4.41 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that that provide coverage for Allegheny Technologies.

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

A number of equities research analysts have issued reports on the stock. ValuEngine raised shares of YPF from a “sell” rating to a “hold” rating in a report on Monday, June 24th. KeyCorp reiterated a “hold” rating on shares of Silgan in a research report on Wednesday, April 24th. Zacks Investment Research cut shares of Glu Mobile from a “buy” rating to a “hold” rating in a research report on Tuesday, April 9th. Buckingham Research lowered their price objective on shares of American Axle & Manufact. from $16.00 to $15.00 and set a “neutral” rating for the company in a research note on Monday, May 6th. Finally, Longbow Research lowered shares of Allegheny Technologies from a “buy” rating to a “neutral” rating and set a $24.45 price objective for the company. in a research note on Thursday. Six research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $31.25.

In other news, Director James C. Diggs sold 4,000 shares of the business’s stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $23.65, for a total value of $94,600.00. Following the sale, the director now directly owns 36,458 shares in the company, valued at approximately $862,231.70. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 1.06% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the stock. Bessemer Group Inc. increased its stake in shares of Allegheny Technologies by 5.9% in the second quarter. Bessemer Group Inc. now owns 14,175 shares of the basic materials company’s stock worth $357,000 after acquiring an additional 791 shares during the period. Schneider Downs Wealth Management Advisors LP acquired a new stake in Allegheny Technologies during the second quarter worth about $1,086,000. Oregon Public Employees Retirement Fund increased its position in shares of Allegheny Technologies by 1.4% during the second quarter. Oregon Public Employees Retirement Fund now owns 50,955 shares of the basic materials company’s stock valued at $1,284,000 after acquiring an additional 718 shares during the last quarter. OLD National Bancorp IN increased its position in shares of Allegheny Technologies by 5.8% during the second quarter. OLD National Bancorp IN now owns 22,427 shares of the basic materials company’s stock valued at $565,000 after acquiring an additional 1,232 shares during the last quarter. Finally, Nisa Investment Advisors LLC boosted its stake in shares of Allegheny Technologies by 35.3% in the second quarter. Nisa Investment Advisors LLC now owns 3,830 shares of the basic materials company’s stock valued at $97,000 after purchasing an additional 1,000 shares during the period.

Shares of ATI stock traded up $0.81 during trading hours on Friday, reaching $25.26. The company’s stock had a trading volume of 1,800,507 shares, compared to its average volume of 984,622. The company has a quick ratio of 1.22, a current ratio of 2.87 and a debt-to-equity ratio of 0.75. Allegheny Technologies has a fifty-two week low of $20.84 and a fifty-two week high of $30.18. The firm has a market capitalization of $3.18 billion, a P/E ratio of 16.73, a price-to-earnings-growth ratio of 1.13 and a beta of 2.34. The company’s 50 day moving average is $24.30.

Allegheny Technologies Company Profile

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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