ATI (ATI) Scheduled to Post Quarterly Earnings on Tuesday

ATI (NYSE:ATI) is scheduled to post its quarterly earnings results before the market opens on Tuesday, October 29th. Analysts expect ATI to post earnings of $0.66 per share for the quarter. ATI has set its FY 2024 guidance at 2.300-2.600 EPS.Investors that are interested in participating in the company’s conference call can do so using this link.

ATI (NYSE:ATI) last posted its quarterly earnings results 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. The business had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.11 billion. ATI had a return on equity of 23.05% and a net margin of 8.74%. ATI’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same period last year, the company earned $0.59 EPS. On average, analysts expect ATI to post $2 EPS for the current fiscal year and $3 EPS for the next fiscal year.

ATI Trading Up 0.4 %

Shares of ATI opened at $63.38 on Tuesday. The firm has a fifty day simple moving average of $63.49 and a two-hundred day simple moving average of $59.73. ATI has a twelve month low of $35.03 and a twelve month high of $68.92. The stock has a market capitalization of $7.89 billion, a P/E ratio of 25.45, a PEG ratio of 1.42 and a beta of 1.04. The company has a quick ratio of 1.07, a current ratio of 2.13 and a debt-to-equity ratio of 1.26.

ATI announced that its board has authorized a stock buyback plan on Tuesday, September 3rd that permits the company to buyback $700.00 million in outstanding shares. This buyback authorization permits the basic materials company to purchase up to 9.4% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

ATI has been the subject of a number of analyst reports. JPMorgan Chase & Co. raised their target price 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 price objective on shares of ATI in a research note on Wednesday, August 7th. BTIG Research assumed coverage on ATI in a research note on Wednesday, June 26th. They issued a “buy” rating and a $70.00 target price on the stock. Susquehanna assumed coverage on ATI in a research report on Thursday, September 5th. They issued a “positive” rating and a $75.00 price target for the company. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on shares of ATI from $81.00 to $84.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. One equities research analyst has rated the stock with a sell rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $74.43.

Insider Transactions at ATI

In other ATI news, Chairman Robert S. Wetherbee sold 25,000 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The stock was 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 of the company’s stock, valued at approximately $30,271,347.89. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.71% 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.