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Allegheny Technologies (ATI) Stock Dips While Market Gains: Key Facts
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The most recent trading session ended with Allegheny Technologies (ATI - Free Report) standing at $65.32, reflecting a -0.15% shift from the previouse trading day's closing. The stock fell short of the S&P 500, which registered a gain of 0.4% for the day. Meanwhile, the Dow experienced a rise of 0.62%, and the technology-dominated Nasdaq saw an increase of 0.6%.
Heading into today, shares of the maker of steel and specialty metals had gained 0.75% over the past month, lagging the Basic Materials sector's gain of 3.19% and the S&P 500's gain of 1.71% in that time.
Analysts and investors alike will be keeping a close eye on the performance of Allegheny Technologies in its upcoming earnings disclosure. On that day, Allegheny Technologies is projected to report earnings of $0.66 per share, which would represent year-over-year growth of 20%. Meanwhile, our latest consensus estimate is calling for revenue of $1.13 billion, up 10.17% from the prior-year quarter.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $2.48 per share and a revenue of $4.48 billion, indicating changes of -3.13% and +7.32%, respectively, from the former year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Allegheny Technologies. Recent revisions tend to reflect the latest near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, 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. Allegheny Technologies presently features a Zacks Rank of #3 (Hold).
In terms of valuation, Allegheny Technologies is presently being traded at a Forward P/E ratio of 26.4. This valuation marks a premium compared to its industry's average Forward P/E of 19.16.
Also, we should mention that ATI has a PEG ratio of 1.6. 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. The Steel - Speciality was holding an average PEG ratio of 1.06 at yesterday's closing price.
The Steel - Speciality industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 94, putting it in the top 38% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Allegheny Technologies (ATI) Stock Dips While Market Gains: Key Facts
The most recent trading session ended with Allegheny Technologies (ATI - Free Report) standing at $65.32, reflecting a -0.15% shift from the previouse trading day's closing. The stock fell short of the S&P 500, which registered a gain of 0.4% for the day. Meanwhile, the Dow experienced a rise of 0.62%, and the technology-dominated Nasdaq saw an increase of 0.6%.
Heading into today, shares of the maker of steel and specialty metals had gained 0.75% over the past month, lagging the Basic Materials sector's gain of 3.19% and the S&P 500's gain of 1.71% in that time.
Analysts and investors alike will be keeping a close eye on the performance of Allegheny Technologies in its upcoming earnings disclosure. On that day, Allegheny Technologies is projected to report earnings of $0.66 per share, which would represent year-over-year growth of 20%. Meanwhile, our latest consensus estimate is calling for revenue of $1.13 billion, up 10.17% from the prior-year quarter.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $2.48 per share and a revenue of $4.48 billion, indicating changes of -3.13% and +7.32%, respectively, from the former year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Allegheny Technologies. Recent revisions tend to reflect the latest near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, 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. Allegheny Technologies presently features a Zacks Rank of #3 (Hold).
In terms of valuation, Allegheny Technologies is presently being traded at a Forward P/E ratio of 26.4. This valuation marks a premium compared to its industry's average Forward P/E of 19.16.
Also, we should mention that ATI has a PEG ratio of 1.6. 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. The Steel - Speciality was holding an average PEG ratio of 1.06 at yesterday's closing price.
The Steel - Speciality industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 94, putting it in the top 38% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.