The most recent trading session ended with Allegheny Technologies (ATI) standing at $62.86, reflecting a -0.44% shift from the previouse trading day's closing. This move was narrower than the S&P 500's daily loss of 0.92%. Meanwhile, the Dow experienced a drop of 0.96%, and the technology-dominated Nasdaq saw a decrease of 1.6%.

Shares of the maker of steel and specialty metals witnessed a loss of 2.32% over the previous month, trailing the performance of the Basic Materials sector with its gain of 1.26% and the S&P 500's gain of 2.68%.

The upcoming earnings release of Allegheny Technologies will be of great interest to investors. The company's earnings report is expected on October 29, 2024. The company's upcoming EPS is projected at $0.66, signifying a 20% increase compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $1.13 billion, reflecting a 9.92% rise from the equivalent quarter last year.

For the annual period, the Zacks Consensus Estimates anticipate earnings of $2.47 per share and a revenue of $4.46 billion, signifying shifts of -3.52% and +6.8%, respectively, from the last year.

Investors should also take note of any recent adjustments to analyst estimates for Allegheny Technologies. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.

Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.

The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.27% lower within the past month. At present, Allegheny Technologies boasts a Zacks Rank of #3 (Hold).

Looking at valuation, Allegheny Technologies is presently trading at a Forward P/E ratio of 25.55. This expresses a premium compared to the average Forward P/E of 14.5 of its industry.

Meanwhile, ATI's PEG ratio is currently 1.42. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. By the end of yesterday's trading, the Steel - Speciality industry had an average PEG ratio of 0.9.

The Steel - Speciality industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 17, putting it in the top 7% of all 250+ industries.

The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.

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