ATI (NYSE:ATI) Updates FY24 Earnings Guidance

ATI (NYSE:ATI) updated its FY24 earnings guidance on Tuesday. 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.

ATI Trading Up 0.2 %

Shares of ATI stock traded up $0.13 on Friday, reaching $58.18. 1,831,144 shares of the company’s stock were exchanged, compared to its average volume of 1,371,443. The company’s fifty day simple moving average is $50.52 and its 200 day simple moving average is $45.10. The stock has a market capitalization of $7.24 billion, a PE ratio of 23.37, a P/E/G ratio of 1.54 and a beta of 1.17. 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 52 week low of $34.10 and a 52 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 analysts’ consensus estimates of $0.41 by $0.07. ATI had a net margin of 8.70% and a return on equity of 23.72%. The firm had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1.03 billion. During the same period in the prior year, the business posted $0.49 earnings per share. The business’s revenue for the quarter was up .5% on a year-over-year basis. As a group, analysts forecast that ATI will post 2.45 EPS for the current year.

Analysts Set New Price Targets

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

Insider Buying and Selling at ATI

In other ATI news, VP Timothy J. Harris sold 6,325 shares of the firm’s stock in a transaction dated 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 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 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.