ATI (ATI) Scheduled to Post Quarterly Earnings on Tuesday

ATI (NYSE:ATI - Get Free Report) will issue its quarterly earnings data before the market opens on Tuesday, October 29th. Analysts expect the company to announce earnings of $0.66 per share for the quarter. ATI has set its FY 2024 guidance at 2.300-2.600 EPS.Parties interested in listening to the company's conference call can do so using this link.

ATI (NYSE:ATI - Get Free Report) last issued its quarterly earnings data on Tuesday, August 6th. The basic materials company reported $0.60 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.58 by $0.02. The business had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.11 billion. ATI had a net margin of 8.74% and a return on equity of 23.05%. The firm's quarterly revenue was up 5.2% on a year-over-year basis. During the same quarter last year, the business 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 Down 0.4 %

NYSE ATI traded down $0.25 during trading hours on Tuesday, reaching $63.13. The company's stock had a trading volume of 731,439 shares, compared to its average volume of 1,413,533. The firm has a fifty day simple moving average of $63.51 and a 200-day simple moving average of $59.82. The stock has a market cap of $7.86 billion, a P/E ratio of 25.36, a P/E/G ratio of 1.42 and a beta of 1.04. ATI has a 52 week low of $35.03 and a 52 week high of $68.92. The company has a debt-to-equity ratio of 1.26, a current ratio of 2.13 and a quick ratio of 1.07.

ATI declared that its board has initiated a stock repurchase program on Tuesday, September 3rd that permits the company to buyback $700.00 million in shares. This buyback authorization permits the basic materials company to reacquire up to 9.4% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's board believes its shares are undervalued.

Insider Transactions at ATI

In other news, Chairman Robert S. Wetherbee sold 25,000 shares of ATI stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $62.23, for a total transaction of $1,555,750.00. Following the sale, the chairman now directly owns 486,443 shares in the company, valued at $30,271,347.89. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.71% of the company's stock.

Analysts Set New Price Targets

Several research firms recently issued reports on ATI. JPMorgan Chase & Co. lifted their price target on shares of ATI from $65.00 to $75.00 and gave the company an "overweight" rating in a research report on Wednesday, August 21st. BTIG Research began coverage on shares of ATI in a research report on Wednesday, June 26th. They issued a "buy" rating and a $70.00 price target for the company. Susquehanna began coverage on shares of ATI in a research report on Thursday, September 5th. They issued a "positive" rating and a $75.00 price target for the company. Deutsche Bank Aktiengesellschaft lifted their price target on shares of ATI from $81.00 to $84.00 and gave the company a "buy" rating in a research report on Thursday, October 3rd. Finally, Benchmark reaffirmed a "buy" rating and set a $80.00 price objective on shares of ATI in a report on Wednesday, August 7th. One research analyst has rated the stock with a sell rating and seven have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $74.43.

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.