ATI (NYSE:ATI) Updates FY24 Earnings Guidance

ATI (NYSE:ATI) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided EPS guidance of $2.30-2.60 for the period, compared to the consensus EPS estimate of $2.28. ATI also updated its FY 2024 guidance to 2.300-2.600 EPS.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. KeyCorp increased their target price on ATI from $56.00 to $58.00 and gave the stock an overweight rating in a research report on Monday, April 22nd. Deutsche Bank Aktiengesellschaft assumed coverage on shares of ATI in a research report on Thursday, April 11th. They set a buy rating and a $70.00 target price for the company. Finally, TheStreet upgraded ATI from a c+ rating to a b- rating in a report on Friday, January 26th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, ATI currently has a consensus rating of Moderate Buy and an average target price of $56.00.

ATI Trading Down 0.9 %

NYSE:ATI traded down $0.55 during trading hours on Thursday, reaching $58.30. The company’s stock had a trading volume of 788,103 shares, compared to its average volume of 1,349,328. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.53 and a current ratio of 2.81. The firm has a market capitalization of $7.25 billion, a price-to-earnings ratio of 23.63, a PEG ratio of 1.69 and a beta of 1.16. The firm has a 50-day simple moving average of $50.29 and a 200-day simple moving average of $45.00. ATI has a 1 year low of $34.10 and a 1 year high of $61.58.

ATI (NYSE:ATI) last released its quarterly earnings data 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 firm had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.03 billion. ATI had a return on equity of 23.72% and a net margin of 8.70%. The company’s quarterly revenue was up .5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.49 earnings per share. Research analysts expect that ATI will post 2.26 EPS for the current fiscal year.

Insider Activity

In other ATI news, VP Timothy J. Harris sold 6,325 shares of the firm’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 sale, the vice president now owns 109,331 shares of the company’s stock, valued at approximately $4,640,007.64. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.71% of the company’s stock.

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.