ATI (NYSE:ATI – Get Free Report) updated its FY24 earnings guidance on Tuesday. The company provided EPS guidance of $2.30-2.60 for the period, compared to the consensus EPS estimate of $2.28. ATI also updated its FY 2024 guidance to 2.300-2.600 EPS.
ATI Trading Up 17.3 %
ATI traded up $8.98 during midday trading on Tuesday, reaching $60.88. 2,871,010 shares of the company were exchanged, compared to its average volume of 1,308,239. The stock has a market capitalization of $7.58 billion, a P/E ratio of 23.47, a PEG ratio of 1.46 and a beta of 1.22. ATI has a one year low of $34.10 and a one year high of $61.58. The stock’s 50-day simple moving average is $49.73 and its 200 day simple moving average is $44.75. The company has a debt-to-equity ratio of 1.45, a quick ratio of 1.53 and a current ratio of 2.80.
ATI (NYSE:ATI – Get Free Report) last issued its quarterly earnings data on Thursday, February 1st. The basic materials company reported $0.64 earnings per share (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 analysts’ expectations of $1.05 billion. During the same quarter in the previous year, the company earned $0.53 earnings per share. The business’s revenue for the quarter was up 5.3% on a year-over-year basis. As a group, analysts forecast that ATI will post 2.26 earnings per share for the current fiscal year.
Analysts Set New Price Targets
Check Out Our Latest Research Report on ATI
Insider Activity at ATI
In other news, VP Timothy J. Harris sold 6,325 shares of the business’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $42.44, for a total transaction of $268,433.00. Following the transaction, the vice president now directly owns 109,331 shares in the company, valued at approximately $4,640,007.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.05% of the stock is owned by company insiders.
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.
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