Allegheny Technologies (ATI) closed the latest trading day at $53.09, indicating a +1.22% change from the previous session's end. This change outpaced the S&P 500's 0.74% gain on the day. At the same time, the Dow added 0.05%, and the tech-heavy Nasdaq gained 1.26%.
The maker of steel and specialty metals's shares have seen a decrease of 0.55% over the last month, surpassing the Basic Materials sector's loss of 2.61% and the S&P 500's loss of 4.77%.
Market participants will be closely following the financial results of Allegheny Technologies in its upcoming release. The company plans to announce its earnings on May 1, 2025. The company is expected to report EPS of $0.58, up 20.83% from the prior-year quarter. Meanwhile, the latest consensus estimate predicts the revenue to be $1.06 billion, indicating a 1.98% increase compared to the same quarter of the previous year.
For the full year, the Zacks Consensus Estimates project earnings of $2.88 per share and a revenue of $4.58 billion, demonstrating changes of +17.07% and +5.01%, respectively, from the preceding 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. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.2% lower. At present, Allegheny Technologies boasts a Zacks Rank of #3 (Hold).
In terms of valuation, Allegheny Technologies is currently trading at a Forward P/E ratio of 18.18. This expresses a premium compared to the average Forward P/E of 12.82 of its industry.
We can also see that ATI currently has a PEG ratio of 0.79. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The average PEG ratio for the Steel - Speciality industry stood at 0.85 at the close of the market yesterday.
The Steel - Speciality industry is part of the Basic Materials sector. This industry, currently bearing a Zacks Industry Rank of 237, finds itself in the bottom 5% echelons of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. 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.
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ATI Inc. (ATI): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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