ATI (NYSE:ATI) Releases FY 2024 Earnings Guidance

ATI (NYSE:ATI) updated its FY 2024 earnings guidance on Tuesday. 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.

Analyst Ratings Changes

A number of brokerages have recently commented on ATI. TheStreet upgraded shares of ATI from a c+ rating to a b- rating in a report on Friday, January 26th. 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 for the company. Finally, KeyCorp boosted their target price on shares of ATI from $56.00 to $58.00 and gave the company an overweight rating in a report on Monday, April 22nd. 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 has a consensus rating of Moderate Buy and a consensus target price of $56.00.

ATI Trading Down 0.9 %

ATI traded down $0.54 during trading on Thursday, hitting $58.31. 1,296,527 shares of the company’s stock were exchanged, compared to its average volume of 1,354,791. The company has a current ratio of 2.81, a quick ratio of 1.53 and a debt-to-equity ratio of 1.56. ATI has a 1 year low of $34.10 and a 1 year high of $61.58. The stock has a 50 day moving average price of $50.29 and a 200 day moving average price of $45.00. The firm has a market cap of $7.26 billion, a P/E ratio of 23.63, a price-to-earnings-growth ratio of 1.69 and a beta of 1.16.

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

Insiders Place Their Bets

In other ATI news, VP Timothy J. Harris sold 6,325 shares of the business’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 transaction 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 legal filing with the SEC, which is available through this link. 0.71% of the stock is owned by insiders.

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.