ATI (NYSE:ATI) Releases FY 2024 Earnings Guidance

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

ATI Price Performance

Shares of ATI stock traded down $0.24 during trading hours on Wednesday, reaching $59.46. The company’s stock had a trading volume of 1,673,343 shares, compared to its average volume of 1,346,457. The firm has a 50 day moving average price of $50.03 and a 200-day moving average price of $44.91. ATI has a one year low of $34.10 and a one year high of $61.58. The company has a debt-to-equity ratio of 1.45, a current ratio of 2.80 and a quick ratio of 1.53. The stock has a market cap of $7.40 billion, a P/E ratio of 23.62, a P/E/G ratio of 1.47 and a beta of 1.22.

ATI (NYSE:ATI) last issued its quarterly earnings results on Tuesday, April 30th. The basic materials company reported $0.48 EPS for the quarter, beating the consensus estimate of $0.41 by $0.07. The company had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.03 billion. ATI had a net margin of 8.81% and a return on equity of 24.64%. The firm’s revenue was up .5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.49 EPS. On average, analysts predict that ATI will post 2.26 EPS for the current year.

Wall Street Analysts Forecast Growth

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

Insider Transactions at ATI

In other news, VP Timothy J. Harris sold 6,325 shares of the company’s stock in a transaction that occurred 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 owns 109,331 shares of the company’s stock, valued at approximately $4,640,007.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.05% of the company’s stock.

About ATI

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.