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Allegheny Technologies (ATI) Stock Falls Amid Market Uptick: What Investors Need to Know
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The latest trading session saw Allegheny Technologies (ATI - Free Report) ending at $61.77, denoting a -0.69% adjustment from its last day's close. This move lagged the S&P 500's daily gain of 0.54%. Elsewhere, the Dow saw an upswing of 0.72%, while the tech-heavy Nasdaq appreciated by 0.65%.
Shares of the maker of steel and specialty metals have depreciated by 3.24% over the course of the past month, underperforming the Basic Materials sector's gain of 2.05% and the S&P 500's gain of 4.86%.
Investors will be eagerly watching for the performance of Allegheny Technologies in its upcoming earnings disclosure. The company is predicted to post an EPS of $0.66, indicating a 20% growth compared to the equivalent quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $1.13 billion, indicating a 10.17% upward movement from the same quarter last year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $2.48 per share and a revenue of $4.48 billion, signifying shifts of -3.13% and +7.32%, respectively, from the last year.
Investors should also note any recent changes to analyst estimates for Allegheny Technologies. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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, 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 last 30 days, the Zacks Consensus EPS estimate has moved 0.51% higher. Allegheny Technologies is currently a Zacks Rank #3 (Hold).
Investors should also note Allegheny Technologies's current valuation metrics, including its Forward P/E ratio of 25.1. This represents a premium compared to its industry's average Forward P/E of 19.13.
We can also see that ATI currently has a PEG ratio of 1.52. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. By the end of yesterday's trading, the Steel - Speciality industry had an average PEG ratio of 1.06.
The Steel - Speciality industry is part of the Basic Materials sector. With its current Zacks Industry Rank of 163, this industry ranks in the bottom 36% of all industries, numbering over 250.
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 Falls Amid Market Uptick: What Investors Need to Know
The latest trading session saw Allegheny Technologies (ATI - Free Report) ending at $61.77, denoting a -0.69% adjustment from its last day's close. This move lagged the S&P 500's daily gain of 0.54%. Elsewhere, the Dow saw an upswing of 0.72%, while the tech-heavy Nasdaq appreciated by 0.65%.
Shares of the maker of steel and specialty metals have depreciated by 3.24% over the course of the past month, underperforming the Basic Materials sector's gain of 2.05% and the S&P 500's gain of 4.86%.
Investors will be eagerly watching for the performance of Allegheny Technologies in its upcoming earnings disclosure. The company is predicted to post an EPS of $0.66, indicating a 20% growth compared to the equivalent quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $1.13 billion, indicating a 10.17% upward movement from the same quarter last year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $2.48 per share and a revenue of $4.48 billion, signifying shifts of -3.13% and +7.32%, respectively, from the last year.
Investors should also note any recent changes to analyst estimates for Allegheny Technologies. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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, 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 last 30 days, the Zacks Consensus EPS estimate has moved 0.51% higher. Allegheny Technologies is currently a Zacks Rank #3 (Hold).
Investors should also note Allegheny Technologies's current valuation metrics, including its Forward P/E ratio of 25.1. This represents a premium compared to its industry's average Forward P/E of 19.13.
We can also see that ATI currently has a PEG ratio of 1.52. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. By the end of yesterday's trading, the Steel - Speciality industry had an average PEG ratio of 1.06.
The Steel - Speciality industry is part of the Basic Materials sector. With its current Zacks Industry Rank of 163, this industry ranks in the bottom 36% of all industries, numbering over 250.
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.