Yahoo Finance Allegheny Technologies (ATI) Outpaces Stock Market Gains: What You Should Know
In the latest trading session, Allegheny Technologies (ATI) closed at $56.52, marking a +0.44% move from the previous day. The stock's change was more than the S&P 500's daily gain of 0.09%. Elsewhere, the Dow gained 0.09%, while the tech-heavy Nasdaq added 0.3%.
The the stock of maker of steel and specialty metals has fallen by 6.88% in the past month, lagging the Basic Materials sector's loss of 4.67% and the S&P 500's gain of 3.38%.
Analysts and investors alike will be keeping a close eye on the performance of Allegheny Technologies in its upcoming earnings disclosure. In that report, analysts expect Allegheny Technologies to post earnings of $0.57 per share. This would mark a year-over-year decline of 3.39%. At the same time, our most recent consensus estimate is projecting a revenue of $1.1 billion, reflecting a 5.39% rise from the equivalent quarter last year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $2.45 per share and revenue of $4.5 billion. These totals would mark changes of -4.3% and +7.91%, respectively, from last year.
Investors should also note any recent changes 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.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional 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 moved 1.56% higher. Allegheny Technologies is currently a Zacks Rank #2 (Buy).
From a valuation perspective, Allegheny Technologies is currently exchanging hands at a Forward P/E ratio of 23. For comparison, its industry has an average Forward P/E of 15.39, which means Allegheny Technologies is trading at a premium to the group.
It's also important to note that ATI currently trades at a PEG ratio of 1.42. 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 average PEG ratio for the Steel - Speciality industry stood at 0.91 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 98, which puts it in the top 39% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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ATI Inc. (ATI) : Free Stock Analysis Report
