ATI (NYSE:ATI) Issues FY 2024 Earnings Guidance

ATI (NYSE:ATI) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided EPS guidance of 2.300-2.600 for the period, compared to the consensus EPS estimate of 2.280. The company issued revenue guidance of -. ATI also updated its FY24 guidance to $2.30-2.60 EPS.

ATI Stock Performance

ATI stock traded up $8.27 during midday trading on Tuesday, hitting $60.17. The stock had a trading volume of 4,049,563 shares, compared to its average volume of 1,322,029. The firm’s fifty day moving average is $49.73 and its two-hundred day moving average is $44.75. The company has a market capitalization of $7.49 billion, a PE ratio of 23.47, a P/E/G ratio of 1.46 and a beta of 1.22. ATI has a 52-week low of $34.10 and a 52-week high of $61.58. The company has a current ratio of 2.80, a quick ratio of 1.53 and a debt-to-equity ratio of 1.45.

ATI (NYSE:ATI) last announced its quarterly earnings data on Thursday, February 1st. The basic materials company reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.02. ATI had a net margin of 8.81% and a return on equity of 24.64%. The business had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.05 billion. During the same period last year, the firm posted $0.53 EPS. The company’s revenue was up 5.3% on a year-over-year basis. On average, research analysts forecast that ATI will post 2.26 EPS for the current year.

Analysts Set New Price Targets

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

Insider Buying and Selling at ATI

In other news, VP Timothy J. Harris sold 6,325 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The stock was 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 in the company, valued at $4,640,007.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.05% of the stock is currently 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.