ATI (ATI) Dips More Than Broader Market: What You Should Know

In the latest close session, ATI (ATI) was down 2.83% at $141.97. This change lagged the S&P 500's daily loss of 0.61%. Elsewhere, the Dow lost 0.26%, while the tech-heavy Nasdaq lost 0.93%.

The maker of steel and specialty metals's stock has climbed by 4.5% in the past month, exceeding the Aerospace sector's loss of 1.15% and the S&P 500's loss of 2.25%.

The investment community will be paying close attention to the earnings performance of ATI in its upcoming release. In that report, analysts expect ATI to post earnings of $0.87 per share. This would mark year-over-year growth of 20.83%. Meanwhile, our latest consensus estimate is calling for revenue of $1.19 billion, up 3.57% from the prior-year quarter.

Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $4.18 per share and revenue of $4.96 billion, indicating changes of +29.01% and +8.17%, respectively, compared to the previous year.

Investors should also pay attention to any latest changes in analyst estimates for ATI. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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. Over the past month, the Zacks Consensus EPS estimate has shifted 0.28% upward. ATI presently features a Zacks Rank of #2 (Buy).

In the context of valuation, ATI is at present trading with a Forward P/E ratio of 34.94. This indicates a discount in contrast to its industry's Forward P/E of 35.39.

Also, we should mention that ATI has a PEG ratio of 1.45. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. As the market closed yesterday, the Aerospace - Defense Equipment industry was having an average PEG ratio of 2.06.

The Aerospace - Defense Equipment industry is part of the Aerospace sector. Currently, this industry holds a Zacks Industry Rank of 78, positioning it in the top 32% of all 250+ industries.

The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.

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This article originally published on Zacks Investment Research (zacks.com).

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