ATI (NYSE:ATI) Issues FY 2024 Earnings Guidance

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

Wall Street Analyst Weigh In

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

ATI Trading Up 15.9 %

NYSE ATI traded up $8.27 during trading hours on Tuesday, reaching $60.17. The company’s stock had a trading volume of 4,049,563 shares, compared to its average volume of 1,322,029. The firm has a fifty day simple moving average of $49.73 and a 200-day simple moving average of $44.75. The stock has a market cap of $7.49 billion, a P/E 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 debt-to-equity ratio of 1.45, a current ratio of 2.80 and a quick ratio of 1.53.

ATI (NYSE:ATI) last issued 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. The business had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.05 billion. ATI had a net margin of 8.81% and a return on equity of 24.64%. The firm’s quarterly revenue was up 5.3% on a year-over-year basis. During the same quarter last year, the business earned $0.53 EPS. Equities analysts forecast that ATI will post 2.26 earnings per share for the current fiscal year.

Insider Transactions at ATI

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 stock was sold at an average price of $42.44, for a total transaction of $268,433.00. Following the transaction, the vice president now directly owns 109,331 shares in the company, valued at approximately $4,640,007.64. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 1.05% 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.