ATI (NYSE:ATI) Releases 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.

Analyst Upgrades and Downgrades

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

ATI Price Performance

Shares of ATI stock traded down $6.28 on Tuesday, hitting $56.94. The company’s stock had a trading volume of 2,246,242 shares, compared to its average volume of 1,416,295. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.07 and a current ratio of 2.13. ATI has a 1 year low of $36.70 and a 1 year high of $68.92. The firm has a fifty day moving average price of $63.37 and a 200-day moving average price of $60.20. The company has a market capitalization of $7.09 billion, a price-to-earnings ratio of 22.63, a price-to-earnings-growth ratio of 1.38 and a beta of 1.04.

ATI (NYSE:ATI) last posted its quarterly earnings data on Tuesday, August 6th. The basic materials company reported $0.60 earnings per share (EPS) for the quarter, topping 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 company had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.11 billion. During the same period in the previous year, the firm posted $0.59 EPS. ATI’s revenue was up 5.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that ATI will post 2.47 earnings per share for the current fiscal year.

ATI declared that its Board of Directors has authorized a stock buyback program 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 purchase up to 9.4% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its stock is undervalued.

Insider Transactions 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 transaction of $1,540,250.00. Following the transaction, the chairman now directly owns 511,443 shares in the company, valued at $31,510,003.23. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 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.