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Allegheny Technologies (ATI) Stock Moves -0.76%: What You Should Know
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Allegheny Technologies (ATI - Free Report) closed at $23.46 in the latest trading session, marking a -0.76% move from the prior day. This change was narrower than the S&P 500's 1.15% loss on the day. At the same time, the Dow lost 0.71%, and the tech-heavy Nasdaq lost 0.13%.
Heading into today, shares of the maker of steel and specialty metals had gained 1.07% over the past month, outpacing the Basic Materials sector's loss of 7.87% and lagging the S&P 500's gain of 1.44% in that time.
Wall Street will be looking for positivity from Allegheny Technologies as it approaches its next earnings report date. This is expected to be August 4, 2022. The company is expected to report EPS of $0.36, up 400% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $810.54 million, up 31.54% from the year-ago period.
ATI's full-year Zacks Consensus Estimates are calling for earnings of $1.52 per share and revenue of $3.36 billion. These results would represent year-over-year changes of +1069.23% and +20.05%, respectively.
It is also important to note the recent changes to analyst estimates for Allegheny Technologies. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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 ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 1.64% higher within the past month. Allegheny Technologies is currently a Zacks Rank #1 (Strong Buy).
In terms of valuation, Allegheny Technologies is currently trading at a Forward P/E ratio of 15.53. For comparison, its industry has an average Forward P/E of 14.05, which means Allegheny Technologies is trading at a premium to the group.
The Steel - Speciality industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 27, putting 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Allegheny Technologies (ATI) Stock Moves -0.76%: What You Should Know
Allegheny Technologies (ATI - Free Report) closed at $23.46 in the latest trading session, marking a -0.76% move from the prior day. This change was narrower than the S&P 500's 1.15% loss on the day. At the same time, the Dow lost 0.71%, and the tech-heavy Nasdaq lost 0.13%.
Heading into today, shares of the maker of steel and specialty metals had gained 1.07% over the past month, outpacing the Basic Materials sector's loss of 7.87% and lagging the S&P 500's gain of 1.44% in that time.
Wall Street will be looking for positivity from Allegheny Technologies as it approaches its next earnings report date. This is expected to be August 4, 2022. The company is expected to report EPS of $0.36, up 400% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $810.54 million, up 31.54% from the year-ago period.
ATI's full-year Zacks Consensus Estimates are calling for earnings of $1.52 per share and revenue of $3.36 billion. These results would represent year-over-year changes of +1069.23% and +20.05%, respectively.
It is also important to note the recent changes to analyst estimates for Allegheny Technologies. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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 ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 1.64% higher within the past month. Allegheny Technologies is currently a Zacks Rank #1 (Strong Buy).
In terms of valuation, Allegheny Technologies is currently trading at a Forward P/E ratio of 15.53. For comparison, its industry has an average Forward P/E of 14.05, which means Allegheny Technologies is trading at a premium to the group.
The Steel - Speciality industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 27, putting 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.