ATI (NYSE:ATI) Releases FY 2024 Earnings Guidance

ATI (NYSE:ATI) updated its FY 2024 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of 2.300-2.600 for the period, compared to the consensus estimate of 2.460. The company issued revenue guidance of -.

Wall Street Analyst Weigh In

ATI has been the subject of several recent research reports. KeyCorp boosted their price target on ATI from $58.00 to $66.00 and gave the company an overweight rating in a research note on Tuesday, May 28th. Deutsche Bank Aktiengesellschaft boosted their target price on ATI from $80.00 to $81.00 and gave the stock a buy rating in a report on Wednesday. BTIG Research started coverage on ATI in a report on Wednesday, June 26th. They set a buy rating and a $70.00 target price on the stock. Benchmark reaffirmed a buy rating and set a $80.00 price target on shares of ATI in a research note on Wednesday. Finally, Barclays upped their price target on ATI from $55.00 to $70.00 and gave the company an overweight rating in a research note on Monday, May 6th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, ATI presently has an average rating of Moderate Buy and a consensus target price of $73.40.

ATI Stock Performance

Shares of ATI stock traded up $0.26 on Friday, hitting $62.31. The company’s stock had a trading volume of 777,161 shares, compared to its average volume of 1,479,225. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.37 and a current ratio of 2.13. The stock’s 50 day moving average is $58.93 and its 200-day moving average is $53.44. ATI has a fifty-two week low of $35.03 and a fifty-two week high of $68.92. The company has a market capitalization of $7.75 billion, a PE ratio of 25.06, a PEG ratio of 1.50 and a beta of 1.07.

ATI (NYSE:ATI) last announced its quarterly earnings data on Tuesday, August 6th. The basic materials company reported $0.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.02. The firm had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.11 billion. ATI had a net margin of 8.74% and a return on equity of 23.05%. The business’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.59 earnings per share. Equities research analysts expect that ATI will post 2.46 earnings per share for the current fiscal year.

About ATI

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.