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ATI (ATI) Registers a Bigger Fall Than the Market: Important Facts to Note
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In the latest close session, ATI (ATI - Free Report) was down 3.99% at $186.92. The stock's change was less than the S&P 500's daily loss of 0.22%. On the other hand, the Dow registered a loss of 0.66%, and the technology-centric Nasdaq decreased by 0.22%.
Shares of the maker of steel and specialty metals witnessed a loss of 6.09% over the previous month, beating the performance of the Aerospace sector with its loss of 8.35%, and underperforming the S&P 500's gain of 1.4%.
Investors will be eagerly watching for the performance of ATI in its upcoming earnings disclosure. The company's earnings per share (EPS) are projected to be $1.35, reflecting a 58.82% increase from the same quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $1.33 billion, indicating a 17.87% upward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $5.11 per share and revenue of $5.18 billion, which would represent changes of +57.72% and +12.87%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for ATI. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. ATI is currently sporting a Zacks Rank of #1 (Strong Buy).
In terms of valuation, ATI is currently trading at a Forward P/E ratio of 38.11. This denotes a premium relative to the industry average Forward P/E of 32.74.
One should further note that ATI currently holds a PEG ratio of 1.18. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. ATI's industry had an average PEG ratio of 2.06 as of yesterday's close.
The Aerospace - Defense Equipment industry is part of the Aerospace sector. This industry currently has a Zacks Industry Rank of 26, which puts it in the top 11% 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
View the Zacks #1 Rank List
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ATI (ATI) Registers a Bigger Fall Than the Market: Important Facts to Note
In the latest close session, ATI (ATI - Free Report) was down 3.99% at $186.92. The stock's change was less than the S&P 500's daily loss of 0.22%. On the other hand, the Dow registered a loss of 0.66%, and the technology-centric Nasdaq decreased by 0.22%.
Shares of the maker of steel and specialty metals witnessed a loss of 6.09% over the previous month, beating the performance of the Aerospace sector with its loss of 8.35%, and underperforming the S&P 500's gain of 1.4%.
Investors will be eagerly watching for the performance of ATI in its upcoming earnings disclosure. The company's earnings per share (EPS) are projected to be $1.35, reflecting a 58.82% increase from the same quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $1.33 billion, indicating a 17.87% upward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $5.11 per share and revenue of $5.18 billion, which would represent changes of +57.72% and +12.87%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for ATI. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. ATI is currently sporting a Zacks Rank of #1 (Strong Buy).
In terms of valuation, ATI is currently trading at a Forward P/E ratio of 38.11. This denotes a premium relative to the industry average Forward P/E of 32.74.
One should further note that ATI currently holds a PEG ratio of 1.18. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. ATI's industry had an average PEG ratio of 2.06 as of yesterday's close.
The Aerospace - Defense Equipment industry is part of the Aerospace sector. This industry currently has a Zacks Industry Rank of 26, which puts it in the top 11% 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.