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Allegheny Technologies (ATI) Gains As Market Dips: What You Should Know
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Allegheny Technologies (ATI - Free Report) closed at $21.91 in the latest trading session, marking a +1.53% move from the prior day. This move outpaced the S&P 500's daily loss of 0.08%. At the same time, the Dow lost 0.15%, and the tech-heavy Nasdaq lost 0.04%.
Prior to today's trading, shares of the maker of steel and specialty metals had lost 15.87% over the past month. This has was narrower than the Basic Materials sector's loss of 25.14% and lagged the S&P 500's loss of 6.03% in that time.
Wall Street will be looking for positivity from Allegheny Technologies as it approaches its next earnings report date. On that day, Allegheny Technologies is projected to report earnings of $0.37 per share, which would represent year-over-year growth of 408.33%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $810.54 million, up 31.54% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $1.49 per share and revenue of $3.36 billion. These totals would mark changes of +1046.15% and +20.05%, respectively, from last year.
Any recent changes to analyst estimates for Allegheny Technologies should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 2.62% higher. Allegheny Technologies is currently a Zacks Rank #1 (Strong Buy).
Valuation is also important, so investors should note that Allegheny Technologies has a Forward P/E ratio of 14.5 right now. Its industry sports an average Forward P/E of 12.88, so we one might conclude that Allegheny Technologies is trading at a premium comparatively.
The Steel - Speciality industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 20, which puts it in the top 8% 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) Gains As Market Dips: What You Should Know
Allegheny Technologies (ATI - Free Report) closed at $21.91 in the latest trading session, marking a +1.53% move from the prior day. This move outpaced the S&P 500's daily loss of 0.08%. At the same time, the Dow lost 0.15%, and the tech-heavy Nasdaq lost 0.04%.
Prior to today's trading, shares of the maker of steel and specialty metals had lost 15.87% over the past month. This has was narrower than the Basic Materials sector's loss of 25.14% and lagged the S&P 500's loss of 6.03% in that time.
Wall Street will be looking for positivity from Allegheny Technologies as it approaches its next earnings report date. On that day, Allegheny Technologies is projected to report earnings of $0.37 per share, which would represent year-over-year growth of 408.33%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $810.54 million, up 31.54% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $1.49 per share and revenue of $3.36 billion. These totals would mark changes of +1046.15% and +20.05%, respectively, from last year.
Any recent changes to analyst estimates for Allegheny Technologies should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 2.62% higher. Allegheny Technologies is currently a Zacks Rank #1 (Strong Buy).
Valuation is also important, so investors should note that Allegheny Technologies has a Forward P/E ratio of 14.5 right now. Its industry sports an average Forward P/E of 12.88, so we one might conclude that Allegheny Technologies is trading at a premium comparatively.
The Steel - Speciality industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 20, which puts it in the top 8% 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.