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Allegheny Technologies (ATI) Stock Moves -0.44%: What You Should Know
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Allegheny Technologies (ATI - Free Report) ended the recent trading session at $54, demonstrating a -0.44% swing from the preceding day's closing price. The stock outperformed the S&P 500, which registered a daily loss of 1.12%. On the other hand, the Dow registered a loss of 0.31%, and the technology-centric Nasdaq decreased by 2.04%.
Shares of the maker of steel and specialty metals have depreciated by 3.69% over the course of the past month, underperforming the Basic Materials sector's gain of 1.19% and the S&P 500's loss of 2.91%.
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 $0.58, indicating a 20.83% growth compared to the equivalent quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $1.06 billion, up 1.51% from the prior-year quarter.
ATI's full-year Zacks Consensus Estimates are calling for earnings of $2.89 per share and revenue of $4.57 billion. These results would represent year-over-year changes of +17.48% and +4.68%, respectively.
It's also important for investors to be aware of any recent modifications to analyst estimates for Allegheny Technologies. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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, 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. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. 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 18.77. This represents a premium compared to its industry's average Forward P/E of 13.27.
We can additionally observe that ATI currently boasts a PEG ratio of 0.8. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The average PEG ratio for the Steel - Speciality industry stood at 0.86 at the close of the market yesterday.
The Steel - Speciality industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 222, which puts it in the bottom 12% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. 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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Allegheny Technologies (ATI) Stock Moves -0.44%: What You Should Know
Allegheny Technologies (ATI - Free Report) ended the recent trading session at $54, demonstrating a -0.44% swing from the preceding day's closing price. The stock outperformed the S&P 500, which registered a daily loss of 1.12%. On the other hand, the Dow registered a loss of 0.31%, and the technology-centric Nasdaq decreased by 2.04%.
Shares of the maker of steel and specialty metals have depreciated by 3.69% over the course of the past month, underperforming the Basic Materials sector's gain of 1.19% and the S&P 500's loss of 2.91%.
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 $0.58, indicating a 20.83% growth compared to the equivalent quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $1.06 billion, up 1.51% from the prior-year quarter.
ATI's full-year Zacks Consensus Estimates are calling for earnings of $2.89 per share and revenue of $4.57 billion. These results would represent year-over-year changes of +17.48% and +4.68%, respectively.
It's also important for investors to be aware of any recent modifications to analyst estimates for Allegheny Technologies. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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, 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. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. 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 18.77. This represents a premium compared to its industry's average Forward P/E of 13.27.
We can additionally observe that ATI currently boasts a PEG ratio of 0.8. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The average PEG ratio for the Steel - Speciality industry stood at 0.86 at the close of the market yesterday.
The Steel - Speciality industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 222, which puts it in the bottom 12% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. 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.