ATI (NYSE:ATI – Get Free Report) issued an update on its second quarter 2024 earnings guidance on Tuesday morning. The company provided earnings per share guidance of 0.540-0.600 for the period, compared to the consensus earnings per share estimate of 0.520. The company issued revenue guidance of -. ATI also updated its FY 2024 guidance to 2.300-2.600 EPS.
ATI Stock Up 15.9 %
Shares of ATI traded up $8.27 during trading hours on Tuesday, hitting $60.17. The company had a trading volume of 4,049,563 shares, compared to its average volume of 1,322,029. The company has a market capitalization of $7.49 billion, a PE ratio of 23.47, a price-to-earnings-growth ratio of 1.46 and a beta of 1.22. The company has a current ratio of 2.80, a quick ratio of 1.53 and a debt-to-equity ratio of 1.45. ATI has a one year low of $34.10 and a one year high of $61.58. The company’s fifty day moving average price is $49.73 and its two-hundred day moving average price is $44.75.
ATI (NYSE:ATI – Get Free Report) last announced its earnings results on Thursday, February 1st. The basic materials company reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.02. ATI had a return on equity of 24.64% and a net margin of 8.81%. The company had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.05 billion. During the same period in the prior year, the company posted $0.53 EPS. The firm’s quarterly revenue was up 5.3% compared to the same quarter last year. As a group, equities 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
In other news, VP Timothy J. Harris sold 6,325 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $42.44, for a total value of $268,433.00. Following the transaction, the vice president now owns 109,331 shares in the company, valued at $4,640,007.64. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company 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.
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