Allegheny Technologies (ATI) stock outperforms market, upcoming earnings show revenue growth but EPS decline

From Nasdaq: 2024-07-26 18:15:18

Allegheny Technologies (ATI) closed at $65.54, up 1.96% from the previous day, outperforming the S&P 500, Dow, and Nasdaq. The stock rose by 13.73% in the past month amid sector and market declines. The company’s upcoming earnings release on August 6, 2024, is expected to show a decline in EPS but growth in revenue.

Analysts expect Allegheny Technologies to post an EPS of $0.58, a 1.69% decline from last year, with revenue estimated at $1.1 billion, up 5.55%. Zacks Consensus Estimates forecast full-year earnings of $2.46 per share and revenue of $4.5 billion. The Zacks Rank system currently rates ATI as a Hold with positive estimate revisions in the past 30 days.

Allegheny Technologies is trading with a Forward P/E ratio of 26.11, a premium to the industry average. The PEG ratio of 1.61 indicates expected earnings growth. The Steel – Specialty industry ranks in the top 26% of all industries, with a Zacks Industry Rank of 65. Investors can track stock movements and industry trends on Zacks.com.

Interested in potential stock winners? Check out 5 “Whisper” Stocks that analysts may be underestimating. These stocks could jump +10-20% upon earnings announcements. Download the free report for the latest recommendations from Zacks Investment Research. For more information on ATI Inc., visit Zacks.com.



Read more at Nasdaq: Allegheny Technologies (ATI) Beats Stock Market Upswing: What Investors Need to Know