Atlas Energy Solutions (NYSE:AESI) Releases Earnings Results, Misses Expectations By $0.25 EPS

Atlas Energy Solutions (NYSE:AESI) announced its quarterly earnings results on Monday. The company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.25), Briefing.com reports. Atlas Energy Solutions had a return on equity of 16.75% and a net margin of 13.71%. The business had revenue of $304.40 million for the quarter, compared to analyst estimates of $307.93 million. During the same period last year, the firm earned $0.51 EPS. Atlas Energy Solutions’s quarterly revenue was up 93.1% compared to the same quarter last year.

Atlas Energy Solutions Price Performance

Shares of AESI stock traded up $0.09 on Wednesday, reaching $20.46. The company had a trading volume of 119,634 shares, compared to its average volume of 882,334. The stock has a market capitalization of $2.25 billion, a PE ratio of 25.78, a price-to-earnings-growth ratio of 6.47 and a beta of 0.56. The company has a quick ratio of 1.35, a current ratio of 1.53 and a debt-to-equity ratio of 0.42. The business’s 50-day moving average is $21.00 and its 200 day moving average is $21.24. Atlas Energy Solutions has a one year low of $15.55 and a one year high of $24.93.

Atlas Energy Solutions Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Thursday, November 7th will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $0.96 annualized dividend and a dividend yield of 4.69%. Atlas Energy Solutions’s dividend payout ratio is currently 116.46%.

Insider Buying and Selling

In other Atlas Energy Solutions news, major shareholder Stacy Hock sold 8,571 shares of the stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $19.44, for a total value of $166,620.24. Following the completion of the transaction, the insider now directly owns 943,317 shares in the company, valued at approximately $18,338,082.48. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, major shareholder Stacy Hock sold 8,571 shares of Atlas Energy Solutions stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $19.44, for a total transaction of $166,620.24. Following the completion of the transaction, the insider now owns 943,317 shares of the company’s stock, valued at $18,338,082.48. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Gregory M. Shepard acquired 23,300 shares of Atlas Energy Solutions stock in a transaction dated Thursday, October 24th. The shares were bought at an average cost of $19.55 per share, with a total value of $455,515.00. Following the transaction, the insider now owns 7,540,306 shares in the company, valued at approximately $147,412,982.30. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders purchased 33,159 shares of company stock worth $650,776 and sold 35,713 shares worth $729,117. 24.34% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Pickering Energy Partners cut shares of Atlas Energy Solutions from an “outperform” rating to a “neutral” rating in a research report on Wednesday. Royal Bank of Canada lowered their price target on shares of Atlas Energy Solutions from $26.00 to $25.00 and set an “outperform” rating on the stock in a research report on Friday, October 11th. Bank of America cut their price objective on shares of Atlas Energy Solutions from $25.00 to $24.00 and set a “buy” rating for the company in a report on Monday, July 15th. Benchmark reaffirmed a “buy” rating and set a $27.00 target price on shares of Atlas Energy Solutions in a report on Tuesday, August 6th. Finally, Piper Sandler cut their price target on Atlas Energy Solutions from $29.00 to $27.00 and set an “overweight” rating for the company in a research note on Monday, July 15th. One equities research analyst has rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Atlas Energy Solutions has an average rating of “Buy” and an average target price of $25.75.

About Atlas Energy Solutions

Atlas Energy Solutions Inc engages in the production, processing, and sale of mesh and sand that are used as a proppant during the well completion process in the Permian Basin of Texas and New Mexico. The company provides transportation and logistics, storage solutions, and contract labor services. It sells its products and services to oil and natural gas exploration and production companies, and oilfield services companies.