ATI (NYSE:ATI) Issues Q2 2024 Earnings Guidance

ATI (NYSE:ATI) issued an update on its second quarter 2024 earnings guidance on Tuesday morning. The company provided EPS guidance of 0.540-0.600 for the period, compared to the consensus EPS estimate of 0.520. The company issued revenue guidance of -. ATI also updated its FY 2024 guidance to 2.300-2.600 EPS.

ATI Stock Down 0.9 %

Shares of NYSE:ATI traded down $0.54 during trading on Thursday, hitting $58.31. The company’s stock had a trading volume of 1,296,527 shares, compared to its average volume of 1,354,791. The business has a 50 day moving average price of $50.29 and a two-hundred day moving average price of $45.00. The company has a market capitalization of $7.26 billion, a PE ratio of 23.63, a P/E/G ratio of 1.69 and a beta of 1.16. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.53 and a current ratio of 2.81. ATI has a fifty-two week low of $34.10 and a fifty-two week high of $61.58.

ATI (NYSE:ATI) last posted its quarterly earnings results on Tuesday, April 30th. The basic materials company reported $0.48 EPS for the quarter, topping the consensus estimate of $0.41 by $0.07. The business had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.03 billion. ATI had a net margin of 8.70% and a return on equity of 23.72%. The company’s quarterly revenue was up .5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.49 earnings per share. As a group, research analysts expect that ATI will post 2.26 EPS for the current fiscal year.

Wall Street Analyst Weigh In

ATI has been the subject of a number of analyst reports. KeyCorp boosted their target price on shares of ATI from $56.00 to $58.00 and gave the stock an overweight rating in a research note on Monday, April 22nd. TheStreet upgraded shares of ATI from a c+ rating to a b- rating in a research note on Friday, January 26th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of ATI in a research note on Thursday, April 11th. They set a buy rating and a $70.00 target price for the company. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, ATI presently has an average rating of Moderate Buy and an average target price of $56.00.

Insider Activity at ATI

In related news, VP Timothy J. Harris sold 6,325 shares of the business’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $42.44, for a total value of $268,433.00. Following the completion of the sale, the vice president now directly owns 109,331 shares of the company’s stock, valued at $4,640,007.64. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 0.71% of the stock is owned by corporate insiders.

ATI Company Profile

ATI Inc produces and sells specialty materials and complex components worldwide. It operates in two segments: High Performance Materials & Components (HPMC) and Advanced Alloys & Solutions (AA&S). The HPMC segment produces various materials, including titanium and titanium-based alloys, nickel- and cobalt-based alloys and superalloys, metallic powder alloys, advanced powder alloys and other specialty materials, in long product forms, such as ingot, billet, bar, rod, wire, shapes and rectangles, and seamless tubes, as well as precision forgings, components, and machined parts.