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Allegheny Technologies (ATI) Increases Despite Market Slip: Here's What You Need to Know
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Allegheny Technologies (ATI - Free Report) closed the most recent trading day at $83.89, moving +1.49% from the previous trading session. The stock outpaced the S&P 500's daily loss of 0.27%.
Prior to today's trading, shares of the maker of steel and specialty metals had gained 11.81% outpaced the Basic Materials sector's gain of 4.76% and the S&P 500's gain of 6.9%.
The investment community will be closely monitoring the performance of Allegheny Technologies in its forthcoming earnings report. It is anticipated that the company will report an EPS of $0.7, marking a 16.67% rise compared to the same quarter of the previous year. Meanwhile, the latest consensus estimate predicts the revenue to be $1.14 billion, indicating a 3.76% increase compared to the same quarter of the previous year.
For the full year, the Zacks Consensus Estimates project earnings of $3.01 per share and a revenue of $4.63 billion, demonstrating changes of +22.36% and +6.15%, respectively, from the preceding year.
Investors should also pay attention to any latest changes in analyst estimates for Allegheny Technologies. These recent revisions tend to reflect the evolving nature of short-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.54% higher. Allegheny Technologies is currently sporting a Zacks Rank of #2 (Buy).
Valuation is also important, so investors should note that Allegheny Technologies has a Forward P/E ratio of 27.5 right now. Its industry sports an average Forward P/E of 18, so one might conclude that Allegheny Technologies is trading at a premium comparatively.
We can also see that ATI currently has a PEG ratio of 1.16. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Steel - Speciality was holding an average PEG ratio of 1.16 at yesterday's closing price.
The Steel - Speciality industry is part of the Basic Materials sector. At present, this industry carries a Zacks Industry Rank of 94, placing it within the top 39% of over 250 industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Allegheny Technologies (ATI) Increases Despite Market Slip: Here's What You Need to Know
Allegheny Technologies (ATI - Free Report) closed the most recent trading day at $83.89, moving +1.49% from the previous trading session. The stock outpaced the S&P 500's daily loss of 0.27%.
Prior to today's trading, shares of the maker of steel and specialty metals had gained 11.81% outpaced the Basic Materials sector's gain of 4.76% and the S&P 500's gain of 6.9%.
The investment community will be closely monitoring the performance of Allegheny Technologies in its forthcoming earnings report. It is anticipated that the company will report an EPS of $0.7, marking a 16.67% rise compared to the same quarter of the previous year. Meanwhile, the latest consensus estimate predicts the revenue to be $1.14 billion, indicating a 3.76% increase compared to the same quarter of the previous year.
For the full year, the Zacks Consensus Estimates project earnings of $3.01 per share and a revenue of $4.63 billion, demonstrating changes of +22.36% and +6.15%, respectively, from the preceding year.
Investors should also pay attention to any latest changes in analyst estimates for Allegheny Technologies. These recent revisions tend to reflect the evolving nature of short-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.54% higher. Allegheny Technologies is currently sporting a Zacks Rank of #2 (Buy).
Valuation is also important, so investors should note that Allegheny Technologies has a Forward P/E ratio of 27.5 right now. Its industry sports an average Forward P/E of 18, so one might conclude that Allegheny Technologies is trading at a premium comparatively.
We can also see that ATI currently has a PEG ratio of 1.16. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Steel - Speciality was holding an average PEG ratio of 1.16 at yesterday's closing price.
The Steel - Speciality industry is part of the Basic Materials sector. At present, this industry carries a Zacks Industry Rank of 94, placing it within the top 39% of over 250 industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.