Allegheny Technologies Inc. Third Quarter Earnings Sneak Peek

S&P 500 (NYSE:SPY) component Allegheny Technologies, Inc. (NYSE:ATI) will unveil its latest earnings on Wednesday, October 26, 2011. Allegheny Technologies 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.

Allegheny Technologies, Inc. Earnings Preview Cheat Sheet

Wall St. Earnings Expectations: The average estimate of analysts is for net income of 61 cents per share, a rise of 1120% from the company’s actual earnings for the same quarter a year ago. During the past three months, the average estimate has moved down from 91 cents. Between one and three months ago, the average estimate moved down. It also has dropped from 69 cents during the last month. For the year, analysts are projecting profit of $2.64 per share, a rise of more than twofold from last year.

Past Earnings Performance: Last quarter, the company missed estimates by 3 cents, coming in at net income of 70 cents per share versus a mean estimate of profit of 73 cents per share. In the first quarter, the company beat estimates by 5 cents.

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Wall St. Revenue Expectations: On average, analysts predict $1.37 billion in revenue this quarter, a rise of 29.2% from the year ago quarter. Analysts are forecasting total revenue of $5.35 billion for the year, a rise of 32.1% from last year’s revenue of $4.05 billion.

Analyst Ratings: Analysts are bullish on this stock with six analysts rating it as a buy, none rating it as a sell and three rating it as a hold.

A Look Back: In the second quarter, profit rose 75.8% to $64 million (59 cents a share) from $36.4 million (36 cents a share) the year earlier, but fell short analyst expectations. Revenue rose 28.5% to $1.35 billion from $1.05 billion.

Key Stats:

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 36%, 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 has now been profitable for the last eight quarters, and for the last four, profit has risen year over year by an average of 49.1%. The quarter with the biggest boost was the first quarter, which saw a more than threefold surge.

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 July 27, 2011 to October 20, 2011, the stock price had fallen $21.78 (-36%) from $60.50 to $38.72. 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% (+$6.99) over that span. It saw one of its worst periods between July 21, 2011 and August 2, 2011 when shares fell for nine-straight days, falling 19.7% (-$12.97) over that span. Shares are down $15.94 (-29.2%) year to date.

(Source: Xignite Financials)

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