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Here's Why ATI (ATI) Fell More Than Broader Market
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ATI (ATI - Free Report) ended the recent trading session at $197.59, demonstrating a -1.01% change from the preceding day's closing price. The stock's change was less than the S&P 500's daily loss of 0.1%. At the same time, the Dow added 0.35%, and the tech-heavy Nasdaq lost 0.43%.
The stock of maker of steel and specialty metals has risen by 18.27% in the past month, leading the Aerospace sector's gain of 3.09% and the S&P 500's loss of 1.34%.
Market participants will be closely following the financial results of ATI in its upcoming release. The company's upcoming EPS is projected at $1.02, signifying a 37.84% increase compared to the same quarter of the previous year. Our most recent consensus estimate is calling for quarterly revenue of $1.22 billion, up 7.16% from the year-ago period.
ATI's full-year Zacks Consensus Estimates are calling for earnings of $4.35 per share and revenue of $4.98 billion. These results would represent year-over-year changes of +34.26% and +8.57%, respectively.
It's also important for investors to be aware of any recent modifications to analyst estimates for ATI. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
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 varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Currently, ATI is carrying a Zacks Rank of #2 (Buy).
Digging into valuation, ATI currently has a Forward P/E ratio of 45.9. This valuation marks a premium compared to its industry average Forward P/E of 38.31.
Also, we should mention that ATI has a PEG ratio of 1.75. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The Aerospace - Defense Equipment was holding an average PEG ratio of 2.15 at yesterday's closing price.
The Aerospace - Defense Equipment industry is part of the Aerospace sector. Currently, this industry holds a Zacks Industry Rank of 56, positioning it in the top 23% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
View the Zacks #1 Rank List
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Here's Why ATI (ATI) Fell More Than Broader Market
ATI (ATI - Free Report) ended the recent trading session at $197.59, demonstrating a -1.01% change from the preceding day's closing price. The stock's change was less than the S&P 500's daily loss of 0.1%. At the same time, the Dow added 0.35%, and the tech-heavy Nasdaq lost 0.43%.
The stock of maker of steel and specialty metals has risen by 18.27% in the past month, leading the Aerospace sector's gain of 3.09% and the S&P 500's loss of 1.34%.
Market participants will be closely following the financial results of ATI in its upcoming release. The company's upcoming EPS is projected at $1.02, signifying a 37.84% increase compared to the same quarter of the previous year. Our most recent consensus estimate is calling for quarterly revenue of $1.22 billion, up 7.16% from the year-ago period.
ATI's full-year Zacks Consensus Estimates are calling for earnings of $4.35 per share and revenue of $4.98 billion. These results would represent year-over-year changes of +34.26% and +8.57%, respectively.
It's also important for investors to be aware of any recent modifications to analyst estimates for ATI. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
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 varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Currently, ATI is carrying a Zacks Rank of #2 (Buy).
Digging into valuation, ATI currently has a Forward P/E ratio of 45.9. This valuation marks a premium compared to its industry average Forward P/E of 38.31.
Also, we should mention that ATI has a PEG ratio of 1.75. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The Aerospace - Defense Equipment was holding an average PEG ratio of 2.15 at yesterday's closing price.
The Aerospace - Defense Equipment industry is part of the Aerospace sector. Currently, this industry holds a Zacks Industry Rank of 56, positioning it in the top 23% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.