ATI (NYSE:ATI) Releases FY 2024 Earnings Guidance

ATI (NYSE:ATI) updated its FY 2024 earnings guidance on Tuesday. The company provided earnings per share guidance of 2.300-2.600 for the period, compared to the consensus earnings per share estimate of 2.280. The company issued revenue guidance of -. ATI also updated its FY24 guidance to $2.30-2.60 EPS.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on ATI shares. TheStreet raised shares of ATI from a c+ rating to a b- rating in a report on Friday, January 26th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of ATI in a research note on Thursday, April 11th. They issued a buy rating and a $70.00 target price for the company. Finally, KeyCorp raised their price objective on ATI from $56.00 to $58.00 and gave the company an overweight rating in a report on Monday, April 22nd. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of Moderate Buy and a consensus target price of $56.00.

ATI Stock Performance

ATI traded up $8.61 on Tuesday, reaching $60.51. The company had a trading volume of 1,344,663 shares, compared to its average volume of 1,291,013. The stock has a market capitalization of $7.53 billion, a PE ratio of 23.47, a P/E/G ratio of 1.46 and a beta of 1.22. ATI has a 1 year low of $34.10 and a 1 year high of $61.09. The stock has a 50-day moving average price of $49.73 and a 200-day moving average price of $44.75. The company has a quick ratio of 1.53, a current ratio of 2.80 and a debt-to-equity ratio of 1.45.

ATI (NYSE:ATI) last announced its quarterly earnings data on Thursday, February 1st. The basic materials company reported $0.64 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.02. ATI had a net margin of 8.81% and a return on equity of 24.64%. The firm had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.05 billion. During the same quarter last year, the firm earned $0.53 earnings per share. The firm’s revenue was up 5.3% compared to the same quarter last year. As a group, research analysts forecast that ATI will post 2.26 EPS for the current fiscal year.

Insider Buying and Selling

In other ATI news, VP Timothy J. Harris sold 6,325 shares of ATI stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $42.44, for a total value of $268,433.00. Following the completion of the sale, the vice president now directly owns 109,331 shares of the company’s stock, valued at approximately $4,640,007.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through 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.