ATI (NYSE:ATI) Updates Q4 2024 Earnings Guidance

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

Wall Street Analysts Forecast Growth

ATI has been the topic of a number of recent research reports. JPMorgan Chase & Co. lifted their price objective on shares of ATI from $65.00 to $75.00 and gave the company an “overweight” rating in a research note on Wednesday, August 21st. Benchmark reiterated a “buy” rating and set a $80.00 target price on shares of ATI in a report on Wednesday, August 7th. Susquehanna assumed coverage on shares of ATI in a report on Thursday, September 5th. They issued a “positive” rating and a $75.00 price objective for the company. Deutsche Bank Aktiengesellschaft increased their target price on shares of ATI from $81.00 to $84.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. Finally, KeyCorp lowered shares of ATI from an “overweight” rating to a “sector weight” rating in a report on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $74.43.

ATI Stock Performance

Shares of NYSE ATI traded down $6.00 during trading hours on Tuesday, reaching $57.22. 3,779,821 shares of the stock were exchanged, compared to its average volume of 1,424,487. ATI has a 52 week low of $36.70 and a 52 week high of $68.92. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.07 and a current ratio of 2.13. The stock’s fifty day simple moving average is $63.37 and its 200 day simple moving average is $60.20. The firm has a market capitalization of $7.12 billion, a price-to-earnings ratio of 22.63, a P/E/G ratio of 1.38 and a beta of 1.04.

ATI (NYSE:ATI) last released its earnings results on Tuesday, August 6th. The basic materials company reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.02. ATI had a return on equity of 23.05% and a net margin of 8.74%. The firm had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.11 billion. During the same quarter in the previous year, the business posted $0.59 earnings per share. The business’s revenue for the quarter was up 5.2% on a year-over-year basis. Sell-side analysts predict that ATI will post 2.47 EPS for the current year.

ATI declared that its board has initiated a share buyback plan on Tuesday, September 3rd that authorizes the company to buyback $700.00 million in outstanding shares. This buyback authorization authorizes the basic materials company to buy up to 9.4% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling at ATI

In other ATI news, Chairman Robert S. Wetherbee sold 25,000 shares of the business’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $62.23, for a total value of $1,555,750.00. Following the transaction, the chairman now directly owns 486,443 shares in the company, valued at $30,271,347.89. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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.