S&P 500 (NYSE:SPY) component Allegheny Technologies, Inc. (NYSE:ATI) will unveil its latest earnings on Wednesday, July 27, 2011. Allegheny Technologies Inc. is a global producer of specialty metals. Through its innovative technologies, the company offers a wide range of specialty metals solutions and products, which include titanium and titanium alloys, nickel-based and superalloys, etc. AK Steel Holding Corp Second Quarter Earnings Sneak Peek>>
Allegheny Technologies, Inc. Earnings Preview Cheat Sheet
Wall St. Earnings Expectations: The average estimate of analysts is for profit of 73 cents per share, a rise of more than twofold from the company’s actual earnings for the same quarter a year ago. The average estimate is the same as three months ago. Between one and three months ago, the average estimate moved up, but has dropped from 77 cents during the last month. For the year, analysts are projecting net income of $3.08 per share, a rise of more than threefold from last year.
Past Earnings Performance: The company is looking to beat analyst estimates for the third quarter in a row. Last quarter, it beat estimates with profit of 54 cents per share against the mean estimate of 49 cents. In the prior quarter, the company reported net income of 31 cents.
Wall St. Revenue Expectations: On average, analysts predict $1.31 billion in revenue this quarter, a rise of 24.8% from the year ago quarter. Analysts are forecasting total revenue of $5.29 billion for the year, a rise of 30.6% from last year’s revenue of $4.05 billion.
Analyst Ratings: Analysts are bullish on this stock with seven analysts rating it as a buy, none rating it as a sell and two rating it as a hold.
The company has enjoyed double-digit year-over-year percentage revenue growth for the past four quarters. Over that span, the company has averaged growth of 40.9%, with the biggest boost coming in the third quarter of the last fiscal year when revenue rose 51.8% from the year earlier quarter.
The company raised its gross margin by 3.2 percentage points in the in the first quarter. Revenue rose 36.5% while cost of sales rose 31.4% to $1.02 billion from a year earlier.
Competitors to Watch: RTI Intl. Metals, Inc. (NYSE:RTI), China Direct Industries, Inc. (NASDAQ:CDII), Titanium Metals Corp. (NYSE:TIE), AK Steel Holding Corp. (NYSE:AKS), Precision Castparts Corp. (NYSE:PCP), ArcelorMittal (NYSE:MT), Schnitzer Steel (NASDAQ:SCHN), Steel Dynamics (NASDAQ:STLD) and Nucor (NYSE:NUE).
Stock Price Performance: During April 25, 2011 to July 20, 2011, the stock price had fallen $5.41 (-7.8%) from $69.66 to $64.25. The stock price saw one of its best stretches over the last year between April 18, 2011 and April 27, 2011 when shares rose for seven-straight days, rising 10.7% (+$7.02) over that span. It saw one of its worst periods between June 29, 2011 and July 6, 2011 when shares fell for five-straight days, falling 6% (-$3.88) over that span. Shares are up $9.38 (+17.1%) year to date.
(Source: Xignite Financials)