Arcadium Lithium (NYSE:ALTM) Announces Earnings Results, Misses Expectations By $0.04 EPS

Posted by Dee Baugher on Nov 10th, 2024

Arcadium Lithium (NYSE:ALTM – Get Free Report) posted its earnings results on Thursday. The company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.04), reports. The business had revenue of $203.10 million during the quarter, compared to the consensus estimate of $263.14 million.

Arcadium Lithium Stock Performance

Shares of ALTM stock opened at $5.36 on Friday. The stock has a fifty day simple moving average of $3.98 and a two-hundred day simple moving average of $3.77. The firm has a market capitalization of $5.76 billion, a PE ratio of 7.88 and a beta of 1.48. Arcadium Lithium has a 52-week low of $2.19 and a 52-week high of $18.77.

Analyst Ratings Changes

A number of analysts have commented on ALTM shares. UBS Group raised shares of Arcadium Lithium to a “hold” rating in a report on Tuesday, September 3rd. KeyCorp downgraded shares of Arcadium Lithium from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 10th. Macquarie cut Arcadium Lithium from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 15th. Scotiabank raised Arcadium Lithium from a “hold” rating to a “strong-buy” rating in a report on Monday, October 7th. Finally, Piper Sandler raised Arcadium Lithium from a “strong sell” rating to a “hold” rating in a research note on Wednesday, October 16th. Seven investment analysts have rated the stock with a hold rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $11.00.

Get Our Latest Stock Analysis on Arcadium Lithium

Arcadium Lithium Company Profile

(Get Free Report)

Arcadium Lithium plc engages in the production of lithium chemicals products in the Asia Pacific, North America, Europe, the Middle East, Africa, and Latin America. It offers battery-grade lithium hydroxide, lithium carbonate, butyllithium and high purity lithium metal for electric vehicles, electronics, agricultural, industrial, greases, polymers, pharmaceutical, battery, and aerospace applications.