ATI (NYSE:ATI) Issues Q4 2024 Earnings Guidance

ATI (NYSE:ATI) updated its fourth quarter 2024 earnings guidance on Tuesday. The company provided EPS guidance of 0.560-0.620 for the period, compared to the consensus EPS estimate of 0.730. The company issued revenue guidance of -. ATI also updated its FY 2024 guidance to 2.240-2.300 EPS.

ATI Trading Down 3.4 %

ATI stock traded down $1.94 during mid-day trading on Wednesday, reaching $54.88. 1,816,334 shares of the company traded hands, compared to its average volume of 1,435,384. The company has a debt-to-equity ratio of 1.26, a current ratio of 2.13 and a quick ratio of 1.07. ATI has a 52-week low of $36.70 and a 52-week high of $68.92. The firm has a market capitalization of $6.83 billion, a price-to-earnings ratio of 22.03, a P/E/G ratio of 1.38 and a beta of 1.04. The firm’s 50 day moving average price is $63.24 and its 200 day moving average price is $60.24.

ATI (NYSE:ATI) last released its quarterly earnings results on Tuesday, October 29th. The basic materials company reported $0.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.06). The company had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.12 billion. ATI had a return on equity of 23.05% and a net margin of 8.74%. ATI’s quarterly revenue was up 2.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.55 earnings per share. On average, analysts anticipate that ATI will post 2.47 earnings per share for the current fiscal year.

ATI announced that its board has approved a stock repurchase program on Tuesday, September 3rd that allows the company to buyback $700.00 million in outstanding shares. This buyback authorization allows the basic materials company to buy up to 9.4% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its stock is undervalued.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on ATI shares. Susquehanna dropped their price target on shares of ATI from $75.00 to $70.00 and set a “positive” rating on the stock in a research note on Wednesday. Deutsche Bank Aktiengesellschaft upped their price target on shares of ATI from $81.00 to $84.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. JPMorgan Chase & Co. upped their price target on shares of ATI from $65.00 to $75.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 21st. KeyCorp lowered ATI from an “overweight” rating to a “sector weight” rating in a research report on Thursday, October 24th. Finally, Benchmark reissued a “buy” rating and issued a $80.00 target price on shares of ATI in a research report on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $73.71.

Insider Activity

In other news, Chairman Robert S. Wetherbee sold 25,000 shares of the stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $62.23, for a total transaction of $1,555,750.00. Following the completion of the transaction, the chairman now directly owns 486,443 shares in the company, valued at approximately $30,271,347.89. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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.