Allegheny Technologies Incorporated to Post Q2 2022 Earnings of $ 0.37 Per Share, Seaport Res Ptn Forecasts (NYSE: ATI)


Allegheny Technologies Incorporated (NYSE: ATIGet Rating) – Investment analysts at Seaport Res Ptn issued their Q2 2022 earnings per share (EPS) estimates for shares of Allegheny Technologies in a report released on Thursday, June 23rd. Seaport Res Ptn analyst R. Safran forecasts that the basic materials company will post earnings of $ 0.37 per share for the quarter. The consensus estimate for Allegheny Technologies’ current full-year earnings is $ 1.53 per share. Seaport Res Ptn also issued estimates for Allegheny Technologies’ Q3 2022 earnings at $ 0.38 EPS, Q4 2022 earnings at $ 0.44 EPS, FY2022 earnings at $ 1.64 EPS, Q1 2023 earnings at $ 0.44 EPS, Q2 2023 earnings at $ 0.44 EPS, Q3 2023 earnings at $ 0.52 EPS , Q4 2023 earnings at $ 0.65 EPS and FY2023 earnings at $ 2.05 EPS.

Other research analysts have also issued reports about the company. KeyCorp boosted their price target on Allegheny Technologies from $ 28.00 to $ 31.00 and gave the stock an “overweight” rating in a research report on Monday, April 4th. StockNews.com assumed coverage on Allegheny Technologies in a research report on Thursday, March 31st. They issued a “hold” rating for the company. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, Allegheny Technologies presently has an average rating of “Moderate Buy” and a consensus price target of $ 26.13.

ATI opened at $ 23.17 on Monday. The firm has a market cap of $ 2.88 billion, a price-to-earnings ratio of -579.25 and a beta of 1.28. The company has a current ratio of 2.61, a quick ratio of 1.25 and a debt-to-equity ratio of 2.15. Allegheny Technologies has a 12 month low of $ 13.85 and a 12 month high of $ 30.74. The stock has a fifty day moving average price of $ 26.27 and a 200-day moving average price of $ 23.78.

Allegheny Technologies (NYSE: ATIGet Rating) last issued its earnings results on Wednesday, May 4th. The basic materials company reported $ 0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $ 0.22 by $ 0.18. The business had revenue of $ 834.10 million during the quarter, compared to analyst estimates of $ 748.04 million. Allegheny Technologies had a return on equity of 11.17% and a net margin of 0.02%. Allegheny Technologies’s revenue was up 20.4% on a year-over-year basis. During the same period in the previous year, the company posted ($ 0.06) EPS.

In other Allegheny Technologies news, CMO Kevin B. Kramer sold 10,000 shares of the business’s stock in a transaction dated Thursday, April 14th. The stock was sold at an average price of $ 30.00, for a total transaction of $ 300,000.00. Following the sale, the chief marketing officer now owns 160,338 shares in the company, valued at approximately $ 4,810,140. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.82% of the stock is owned by insiders.

A number of institutional investors have recently bought and sold shares of ATI. Yousif Capital Management LLC acquired a new position in Allegheny Technologies in the 4th quarter worth about $ 1,827,000. Barclays PLC raised its holdings in Allegheny Technologies by 71.3% in the 4th quarter. Barclays PLC now owns 177,944 shares of the company’s basic materials stock worth $ 2,835,000 after purchasing an additional 74,078 shares during the period. Rafferty Asset Management LLC acquired a new position in Allegheny Technologies in the 4th quarter worth about $ 161,000. Great Lakes Advisors LLC acquired a new position in Allegheny Technologies in the 4th quarter worth about $ 181,000. Finally, Everence Capital Management Inc. acquired a new position in Allegheny Technologies in the 1st quarter worth about $ 356,000.

About Allegheny Technologies (Get Rating)

Allegheny Technologies Incorporated manufactures and sells specialty materials and components worldwide. The company operates in two segments: High Performance Materials & Components (HPMC) and Advanced Alloys & Solutions (AA&S). The HPMC segment produces various materials, including titanium and titanium-based alloys, nickel- and cobalt-based alloys and superalloys, advanced powder alloys and other specialty materials, in long product forms, such as ingot, billet, bar, rod, wire, shapes and rectangles, and seamless tubes, as well as precision forgings, components, and machined parts.

Further Reading

Earnings History and Estimates for Allegheny Technologies (NYSE: ATI)



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