Allegheny Technologies Incorporated (ATI) Releases Earnings Results, Beats Expectations By $0.16 EPS

Allegheny Technologies Incorporated (ATI) reported quarterly earnings results on Tuesday, Jul-26-2016. The company said it had a profit of $-0.21 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.16. Analysts had a consensus of $-0.37. The company posted revenue of $810.50 million in the period, compared to analysts expectations of $795.70 million. The company’s revenue was down -20.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.15 EPS.

Many Wall Street Analysts have commented on Allegheny Technologies Incorporated. Allegheny Technologies Incorporated was Upgraded by BofA/Merrill to ” Buy” on May 23, 2016.

Allegheny Technologies Incorporated opened for trading at $14.32 and hit $14.935 on the upside on Wednesday, eventually ending the session at $14.76, with a gain of 1.44% or 0.21 points. The heightened volatility saw the trading volume jump to 22,74,279 shares. Company has a market cap of $1,608 M.

In a different news, on Dec 18, 2015, Elizabeth C Powers (Senior VP, CHRO) purchased 5,000 shares at $10.43 per share price. According to the SEC, on Oct 29, 2015, Elliot S Davis (Sr VP, GC, CCO and Secretary) purchased 2,000 shares at $14.36 per share price. On Oct 29, 2015, Richard J Harshman (CEO) purchased 17,500 shares at $14.55 per share price, according to the Form-4 filing with the securities and exchange commission.

Allegheny Technologies Incorporated is a specialty materials and components producer. The Company’s standard products include specialty stainless sheet stainless steel sheet and stainless steel plate. It operates through two business segments: High Performance Materials & Components and Flat Rolled Products. It’s High Performance Materials & Components segment produces converts and distributes high performance materials including titanium and titanium-based alloys nickel- and cobalt-based alloys and superalloys zirconium and related alloys. It’s Flat Rolled Products segment produces converts and distributes stainless steel nickel-based alloys specialty alloys and titanium and titanium-based alloys.

Allegheny Technologies Incorporated

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