ATI (ATI) Set to Announce Earnings on Tuesday

ATI (NYSE:ATI) will be issuing its quarterly earnings data before the market opens on Tuesday, October 29th. Analysts expect the company to announce earnings of $0.66 per share for the quarter. ATI has set its FY 2024 guidance at 2.300-2.600 EPS.Parties that wish to register for the company’s conference call can do so using this link.

ATI (NYSE:ATI) last announced its quarterly earnings results on Tuesday, August 6th. The basic materials company reported $0.60 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $1.11 billion. During the same quarter in the previous year, the business earned $0.59 EPS. ATI’s revenue for the quarter was up 5.2% compared to the same quarter last year. On average, analysts expect ATI to post $2 EPS for the current fiscal year and $3 EPS for the next fiscal year.

ATI Trading Down 0.2 %

Shares of NYSE:ATI opened at $61.38 on Friday. The business’s 50 day moving average price is $63.40 and its 200-day moving average price is $60.05. ATI has a 1 year low of $36.65 and a 1 year high of $68.92. The firm has a market capitalization of $7.64 billion, a price-to-earnings ratio of 24.65, a price-to-earnings-growth ratio of 1.42 and a beta of 1.04. 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 declared that its board has authorized a stock repurchase plan on Tuesday, September 3rd that permits the company to repurchase $700.00 million in outstanding shares. This repurchase authorization permits the basic materials company to purchase up to 9.4% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling at ATI

In other news, Chairman Robert S. Wetherbee sold 25,000 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $61.61, for a total value of $1,540,250.00. Following the transaction, the chairman now owns 511,443 shares of the company’s stock, valued at approximately $31,510,003.23. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.71% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Susquehanna initiated coverage on ATI in a report on Thursday, September 5th. They issued a “positive” rating and a $75.00 price objective on the stock. KeyCorp cut ATI from an “overweight” rating to a “sector weight” rating in a report on Thursday. JPMorgan Chase & Co. boosted their price objective on shares of ATI from $65.00 to $75.00 and gave the company an “overweight” rating in a report on Wednesday, August 21st. Benchmark reiterated a “buy” rating and issued a $80.00 target price on shares of ATI in a report on Wednesday, August 7th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on ATI from $81.00 to $84.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. One 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. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $74.43.

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.