In its upcoming report, Allegheny Technologies (ATI) is predicted by Wall Street analysts to post quarterly earnings of $0.58 per share, reflecting an increase of 20.8% compared to the same period last year. Revenues are forecasted to be $1.06 billion, representing a year-over-year increase of 2%.
Over the past 30 days, the consensus EPS estimate for the quarter has been adjusted upward by 0.3% to its current level. This demonstrates the covering analysts' collective reassessment of their initial projections during this period.
Prior to a company's earnings announcement, it is crucial to consider revisions to earnings estimates. This serves as a significant indicator for predicting potential investor actions regarding the stock. Empirical research has consistently demonstrated a robust correlation between trends in earnings estimate revision and the short-term price performance of a stock.
While it's common for investors to rely on consensus earnings and revenue estimates for assessing how the business may have performed during the quarter, exploring analysts' forecasts for key metrics can yield valuable insights.
In light of this perspective, let's dive into the average estimates of certain Allegheny Technologies metrics that are commonly tracked and forecasted by Wall Street analysts.
The consensus among analysts is that 'Sales- High Performance Materials & Components' will reach $554.23 million. The estimate indicates a change of +4.6% from the prior-year quarter.
The combined assessment of analysts suggests that 'Sales- Advanced Alloys & Solutions' will likely reach $494.98 million. The estimate indicates a year-over-year change of -3.5%.
The collective assessment of analysts points to an estimated 'EBITDA- Advanced Alloys & Solutions' of $73.65 million. The estimate is in contrast to the year-ago figure of $71.80 million.
Analysts' assessment points toward 'EBITDA- High Performance Materials & Components' reaching $118.61 million. The estimate is in contrast to the year-ago figure of $97.60 million.
View all Key Company Metrics for Allegheny Technologies here>>>
Over the past month, Allegheny Technologies shares have recorded returns of +4.2% versus the Zacks S&P 500 composite's -4.3% change. Based on its Zacks Rank #3 (Hold), ATI will likely exhibit a performance that aligns with the overall market in the upcoming period. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
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ATI Inc. (ATI): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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