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Allegheny Technologies (ATI) Stock Moves -0.73%: What You Should Know
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Allegheny Technologies (ATI - Free Report) closed at $29.86 in the latest trading session, marking a -0.73% move from the prior day. This change was narrower than the S&P 500's daily loss of 0.74%. Meanwhile, the Dow gained 0.01%, and the Nasdaq, a tech-heavy index, added 0.05%.
Heading into today, shares of the maker of steel and specialty metals had gained 6.55% over the past month, lagging the Basic Materials sector's gain of 7.44% and outpacing the S&P 500's gain of 4.58% in that time.
Allegheny Technologies will be looking to display strength as it nears its next earnings release, which is expected to be November 2, 2022. The company is expected to report EPS of $0.52, up 940% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $898.08 million, up 23.75% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $2.04 per share and revenue of $3.62 billion, which would represent changes of +1469.23% and +29.19%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Allegheny Technologies. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.89% higher within the past month. Allegheny Technologies currently has a Zacks Rank of #3 (Hold).
Investors should also note Allegheny Technologies's current valuation metrics, including its Forward P/E ratio of 14.76. This represents a premium compared to its industry's average Forward P/E of 12.77.
The Steel - Speciality industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 219, which puts it in the bottom 14% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow ATI in the coming trading sessions, be sure to utilize Zacks.com.
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Allegheny Technologies (ATI) Stock Moves -0.73%: What You Should Know
Allegheny Technologies (ATI - Free Report) closed at $29.86 in the latest trading session, marking a -0.73% move from the prior day. This change was narrower than the S&P 500's daily loss of 0.74%. Meanwhile, the Dow gained 0.01%, and the Nasdaq, a tech-heavy index, added 0.05%.
Heading into today, shares of the maker of steel and specialty metals had gained 6.55% over the past month, lagging the Basic Materials sector's gain of 7.44% and outpacing the S&P 500's gain of 4.58% in that time.
Allegheny Technologies will be looking to display strength as it nears its next earnings release, which is expected to be November 2, 2022. The company is expected to report EPS of $0.52, up 940% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $898.08 million, up 23.75% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $2.04 per share and revenue of $3.62 billion, which would represent changes of +1469.23% and +29.19%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Allegheny Technologies. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.89% higher within the past month. Allegheny Technologies currently has a Zacks Rank of #3 (Hold).
Investors should also note Allegheny Technologies's current valuation metrics, including its Forward P/E ratio of 14.76. This represents a premium compared to its industry's average Forward P/E of 12.77.
The Steel - Speciality industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 219, which puts it in the bottom 14% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow ATI in the coming trading sessions, be sure to utilize Zacks.com.