Atlas Energy Solutions (NYSE:AESI) Releases Quarterly Earnings Results, Misses Expectations By $0.25 EPS

Atlas Energy Solutions (NYSE:AESI) announced its earnings results on Monday. The company reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.25), Briefing.com reports. The business had revenue of $304.40 million during 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 business’s revenue was up 93.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.51 earnings per share.

Atlas Energy Solutions Price Performance

AESI traded down $0.55 on Wednesday, hitting $19.82. 730,135 shares of the company were exchanged, compared to its average volume of 885,287. Atlas Energy Solutions has a fifty-two week low of $15.55 and a fifty-two week high of $24.93. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.35 and a current ratio of 1.53. The firm has a market capitalization of $2.18 billion, a P/E ratio of 25.09, a price-to-earnings-growth ratio of 6.47 and a beta of 0.56. The business’s fifty day moving average is $21.00 and its 200 day moving average is $21.24.

Atlas Energy Solutions Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Thursday, November 7th will be paid a $0.24 dividend. This is a boost from Atlas Energy Solutions’s previous quarterly dividend of $0.23. The ex-dividend date is Thursday, November 7th. This represents a $0.96 annualized dividend and a dividend yield of 4.84%. Atlas Energy Solutions’s dividend payout ratio (DPR) is 116.46%.

Insider Activity

In related news, major shareholder Stacy Hock sold 8,571 shares of the company’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 value of $166,620.24. Following the sale, the insider now owns 943,317 shares in the company, valued at $18,338,082.48. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Atlas Energy Solutions news, major shareholder Stacy Hock sold 8,571 shares of Atlas Energy Solutions stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $19.44, for a total transaction of $166,620.24. Following the completion of the transaction, the insider now owns 943,317 shares in the company, valued at approximately $18,338,082.48. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Gregory M. Shepard acquired 1,797 shares of the company’s stock in a transaction dated Friday, October 18th. The shares were acquired at an average cost of $19.65 per share, with a total value of $35,311.05. Following the completion of the purchase, the insider now owns 7,507,194 shares in the company, valued at approximately $147,516,362.10. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders purchased 33,159 shares of company stock worth $650,776 and sold 35,713 shares worth $729,117. Insiders own 24.34% of the company’s stock.

Wall Street Analysts Forecast Growth

AESI has been the subject of several recent research reports. Barclays decreased their target price on shares of Atlas Energy Solutions from $26.00 to $23.00 and set an “overweight” rating for the company in a research note on Wednesday, October 16th. Stephens reiterated an “overweight” rating and issued a $28.00 target price on shares of Atlas Energy Solutions in a research note on Tuesday, August 6th. Benchmark restated a “buy” rating and set a $27.00 price target on shares of Atlas Energy Solutions in a research note on Tuesday, August 6th. Pickering Energy Partners lowered shares of Atlas Energy Solutions from an “outperform” rating to a “neutral” rating in a research report on Wednesday. Finally, Royal Bank of Canada restated an “outperform” rating and set a $25.00 price objective on shares of Atlas Energy Solutions in a research report on Wednesday. One research analyst has rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $25.75.

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.