The upcoming report from ATI (ATI) is expected to reveal quarterly earnings of $1.03 per share, indicating an increase of 39.2% compared to the year-ago period. Analysts forecast revenues of $1.22 billion, representing an increase of 7% year over year.
The current level reflects an upward revision of 1.5% in the consensus EPS estimate for the quarter over the past 30 days. This demonstrates how the analysts covering the stock have collectively reappraised their initial projections over this period.
Prior to a company's earnings release, it is of utmost importance to factor in any revisions made to the earnings projections. These revisions serve as a critical gauge for predicting potential investor behaviors with respect to the stock. Empirical studies consistently reveal a strong link between trends in earnings estimate revisions and the short-term price performance of a stock.
While investors typically use consensus earnings and revenue estimates as indicators of quarterly business performance, exploring analysts' projections for specific key metrics can offer valuable insights.
Given this perspective, it's time to examine the average forecasts of specific ATI metrics that are routinely monitored and predicted by Wall Street analysts.
The average prediction of analysts places 'Sales- High Performance Materials & Components' at $669.44 million. The estimate points to a change of +10% from the year-ago quarter.
The collective assessment of analysts points to an estimated 'Sales- Advanced Alloys & Solutions' of $549.60 million. The estimate suggests a change of +3.4% year over year.
The consensus among analysts is that 'EBITDA- Advanced Alloys & Solutions' will reach $91.71 million. The estimate is in contrast to the year-ago figure of $76.70 million.
The combined assessment of analysts suggests that 'EBITDA- High Performance Materials & Components' will likely reach $159.81 million. The estimate is in contrast to the year-ago figure of $144.00 million.
View all Key Company Metrics for ATI here>>>Shares of ATI have demonstrated returns of +0.6% over the past month compared to the Zacks S&P 500 composite's +1.7% change. With a Zacks Rank #2 (Buy), ATI is expected to beat the overall market performance in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
Research Chief Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
This company targets millennial and Gen Z audiences, generating nearly $1 billion in revenue last quarter alone. A recent pullback makes now an ideal time to jump aboard. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.
Free: See Our Top Stock And 4 Runners UpWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
ATI Inc. (ATI): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).