Atlas Energy Solutions (NYSE:AESI) Announces Earnings Results

Atlas Energy Solutions (NYSE:AESI - Get Free Report) released its earnings results on Monday. The company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.29 by ($0.25), Briefing.com reports. The company had revenue of $304.40 million for the quarter, compared to analyst estimates of $307.93 million. Atlas Energy Solutions had a net margin of 13.71% and a return on equity of 16.75%. The firm's quarterly revenue was up 93.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.51 EPS.

Atlas Energy Solutions Price Performance

NYSE:AESI traded down $0.40 during trading hours on Wednesday, hitting $19.97. 420,009 shares of the stock were exchanged, compared to its average volume of 883,810. Atlas Energy Solutions has a 52-week low of $15.55 and a 52-week high of $24.93. The company has a market cap of $2.19 billion, a P/E ratio of 25.91, a P/E/G ratio of 6.47 and a beta of 0.56. The company has a current ratio of 1.53, a quick ratio of 1.35 and a debt-to-equity ratio of 0.42. The firm's fifty day moving average price is $21.00 and its 200 day moving average price is $21.24.

Atlas Energy Solutions Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Thursday, November 7th will be given a dividend of $0.24 per share. The ex-dividend date is Thursday, November 7th. This represents a $0.96 annualized dividend and a yield of 4.81%. Atlas Energy Solutions's dividend payout ratio is presently 116.46%.

Wall Street Analysts Forecast Growth

AESI has been the topic of several research reports. Pickering Energy Partners lowered Atlas Energy Solutions from an "outperform" rating to a "neutral" rating in a research note on Wednesday. Piper Sandler cut their target price on shares of Atlas Energy Solutions from $29.00 to $27.00 and set an "overweight" rating for the company in a research note on Monday, July 15th. Stephens reaffirmed an "overweight" rating and set a $28.00 price target on shares of Atlas Energy Solutions in a report on Tuesday, August 6th. Bank of America dropped their price target on shares of Atlas Energy Solutions from $25.00 to $24.00 and set a "buy" rating on the stock in a research report on Monday, July 15th. Finally, Royal Bank of Canada reiterated an "outperform" rating and set a $25.00 price objective on shares of Atlas Energy Solutions in a report on Wednesday. One analyst has rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, Atlas Energy Solutions presently has a consensus rating of "Buy" and an average target price of $25.75.

Insider Activity at Atlas Energy Solutions

In related news, major shareholder Stacy Hock sold 8,571 shares of the business's stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $19.44, for a total transaction of $166,620.24. Following the completion of the sale, the insider now owns 943,317 shares in the company, valued at $18,338,082.48. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, major shareholder Brian Anthony Leveille sold 10,000 shares of the business's stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $20.50, for a total transaction of $205,000.00. Following the completion of the sale, the insider now owns 542,010 shares in the company, valued at approximately $11,111,205. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Stacy Hock sold 8,571 shares of the business's stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $19.44, for a total value of $166,620.24. Following the transaction, the insider now owns 943,317 shares in the company, valued at approximately $18,338,082.48. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders purchased 33,159 shares of company stock valued at $650,776 and sold 35,713 shares valued at $729,117. Insiders own 24.34% of the company's stock.

About Atlas Energy Solutions

Atlas Energy Solutions Inc engages in the production, processing, and sale of mesh and sand that are used as a proppant during the well completion process in the Permian Basin of Texas and New Mexico. The company provides transportation and logistics, storage solutions, and contract labor services. It sells its products and services to oil and natural gas exploration and production companies, and oilfield services companies.