ATI (ATI) Set to Announce Quarterly Earnings on Tuesday

ATI (NYSE:ATI) is set 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 released its quarterly earnings data on Tuesday, August 6th. The basic materials company reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.02. ATI had a return on equity of 23.05% and a net margin of 8.74%. The company had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.11 billion. During the same period last year, the business posted $0.59 EPS. The company’s quarterly revenue was up 5.2% compared to the same quarter last year. On average, analysts expect ATI to post $2 EPS for the current fiscal year and $3 EPS for the next fiscal year.

ATI Price Performance

ATI stock opened at $61.38 on Friday. ATI has a 52-week low of $36.65 and a 52-week high of $68.92. The firm has a market capitalization of $7.64 billion, a P/E ratio of 24.65, 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. The firm has a fifty day moving average of $63.40 and a 200-day moving average of $60.05.

ATI announced that its Board of Directors has authorized a stock buyback program on Tuesday, September 3rd that authorizes the company to repurchase $700.00 million in shares. This repurchase authorization authorizes the basic materials company to buy up to 9.4% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling at ATI

In other news, Chairman Robert S. Wetherbee sold 25,000 shares of the stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $61.61, for a total transaction of $1,540,250.00. Following the sale, the chairman now directly owns 511,443 shares in the company, valued at approximately $31,510,003.23. This represents 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 the SEC website. 0.71% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Benchmark restated a “buy” rating and issued a $80.00 price target on shares of ATI in a report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft increased their price target on shares of ATI from $81.00 to $84.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. JPMorgan Chase & Co. lifted their price target on ATI from $65.00 to $75.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 21st. Susquehanna assumed coverage on ATI in a research note on Thursday, September 5th. They set a “positive” rating and a $75.00 price objective on the stock. Finally, KeyCorp lowered ATI from an “overweight” rating to a “sector weight” rating in a research report on Thursday. One research analyst has rated the stock with a sell rating, one has given a hold rating and six 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.