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In the latest trading session, Allegheny Technologies (ATI) closed at $63.84, marking a -1.3% move from the previous day. This change lagged the S&P 500’s 0.19% loss on the day. On the other hand, the Dow registered a gain of 0.09%, and the technology-centric Nasdaq decreased by 0.36%.
The the stock of maker of steel and specialty metals has fallen by 0.71% in the past month, lagging the Basic Materials sector’s gain of 2.2% and the S&P 500’s gain of 2.06%.
The investment community will be closely monitoring the performance of Allegheny Technologies in its forthcoming earnings report. The company is predicted to post an EPS of $0.66, indicating a 20% growth compared to the equivalent quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $1.13 billion, up 10.17% from the prior-year quarter.
ATI’s full-year Zacks Consensus Estimates are calling for earnings of $2.48 per share and revenue of $4.48 billion. These results would represent year-over-year changes of -3.13% and +7.32%, respectively.
It is also important to note the recent changes to analyst estimates for Allegheny Technologies. 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To take advantage of this, we’ve established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational 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. Over the past month, the Zacks Consensus EPS estimate has moved 0.51% higher. Allegheny Technologies is currently sporting a Zacks Rank of #3 (Hold).
Investors should also note Allegheny Technologies’s current valuation metrics, including its Forward P/E ratio of 26.1. This indicates a premium in contrast to its industry’s Forward P/E of 19.83.
Investors should also note that ATI has a PEG ratio of 1.58 right now. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company’s anticipated earnings growth rate. As the market closed yesterday, the Steel – Speciality industry was having an average PEG ratio of 1.1.
The Steel – Speciality industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 188, which puts it in the bottom 26% 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.
To follow ATI in the coming trading sessions, be sure to utilize Zacks.com.
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ATI Inc. (ATI) : Free Stock Analysis Report
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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