Allegheny Technologies (ATI) Declines More Than Market: Some Information for Investors

In the latest close session, Allegheny Technologies (ATI) was down 2.84% at $83.89. This move lagged the S&P 500's daily loss of 0.11%. Elsewhere, the Dow gained 0.91%, while the tech-heavy Nasdaq lost 0.82%. The maker of steel and specialty metals's shares have seen an increase of 6.9% over the last month, surpassing the Basic Materials sector's gain of 3.56% and the S&P 500's gain of 5.17%.Market participants will be closely following the financial results of Allegheny Technologies in its upcoming release. The company's earnings per share (EPS) are projected to be $0.7, reflecting a 16.67% increase from the same quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $1.14 billion, indicating a 3.76% upward movement from the same quarter last year. Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $3.01 per share and revenue of $4.63 billion. These totals would mark changes of +22.36% and +6.15%, respectively, from last year. Investors might also notice recent changes to analyst estimates for Allegheny Technologies. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, we can interpret positive estimate revisions as a good sign for the business outlook. Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system. The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Allegheny Technologies presently features a Zacks Rank of #2 (Buy). In terms of valuation, Allegheny Technologies is presently being traded at a Forward P/E ratio of 28.73. This indicates a premium in contrast to its industry's Forward P/E of 19.02. It's also important to note that ATI currently trades at a PEG ratio of 1.21. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Steel - Speciality was holding an average PEG ratio of 1.21 at yesterday's closing price. The Steel - Speciality industry is part of the Basic Materials sector. Currently, this industry holds a Zacks Industry Rank of 97, positioning it in the top 40% of all 250+ industries. The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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. Only $1 to See All Zacks' Buys and SellsWe're not kidding.Several years ago, we shocked our members by offering them 30-day access to all our picks for the total sum of only $1. No obligation to spend another cent.Thousands have taken advantage of this opportunity. Thousands did not - they thought there must be a catch. Yes, we do have a reason. We want you to get acquainted with our portfolio services like Surprise Trader, Stocks Under $10, Technology Innovators,and more, that closed 256 positions with double- and triple-digit gains in 2024 alone.See Stocks Now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report ATI Inc. (ATI): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks