Atlas Energy Solutions (NYSE:AESI) Announces Quarterly Earnings Results

Atlas Energy Solutions (NYSE:AESI) posted its quarterly earnings data on Monday. The company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.25), Briefing.com reports. The company had revenue of $304.40 million for the quarter, compared to analyst estimates of $307.93 million. Atlas Energy Solutions had a return on equity of 16.75% and a net margin of 13.71%. Atlas Energy Solutions’s quarterly revenue was up 93.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.51 EPS.

Atlas Energy Solutions Price Performance

AESI traded up $0.23 on Thursday, reaching $20.07. The stock had a trading volume of 17,784 shares, compared to its average volume of 881,175. Atlas Energy Solutions has a fifty-two week low of $15.55 and a fifty-two week high of $24.93. The firm has a 50-day moving average of $21.00 and a 200-day moving average of $21.24. The company has a current ratio of 1.53, a quick ratio of 1.35 and a debt-to-equity ratio of 0.42. The company has a market capitalization of $2.21 billion, a price-to-earnings ratio of 25.09, a price-to-earnings-growth ratio of 6.47 and a beta of 0.56.

Atlas Energy Solutions Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Thursday, November 7th will be issued a dividend of $0.24 per share. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 4.78%. This is a boost from Atlas Energy Solutions’s previous quarterly dividend of $0.23. Atlas Energy Solutions’s payout ratio is 116.46%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on AESI. Pickering Energy Partners cut Atlas Energy Solutions from an “outperform” rating to a “neutral” rating in a research report on Wednesday. Piper Sandler dropped their price objective on Atlas Energy Solutions from $29.00 to $27.00 and set an “overweight” rating for the company in a research note on Monday, July 15th. Stephens reiterated an “overweight” rating and set a $28.00 price objective on shares of Atlas Energy Solutions in a research note on Tuesday, August 6th. Benchmark restated a “buy” rating and set a $27.00 target price on shares of Atlas Energy Solutions in a report on Tuesday, August 6th. Finally, The Goldman Sachs Group decreased their price target on Atlas Energy Solutions from $28.00 to $25.00 and set a “buy” rating on the stock in a report on Thursday, August 29th. One analyst has rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $25.75.

Insiders Place Their Bets

In other Atlas Energy Solutions news, major shareholder Stacy Hock sold 8,571 shares of the company’s stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $19.44, for a total value of $166,620.24. Following the completion of the transaction, the insider now owns 943,317 shares of the company’s stock, valued at $18,338,082.48. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, major shareholder Gregory M. Shepard purchased 23,300 shares of the company’s stock in a transaction that occurred on Thursday, October 24th. The shares were acquired at an average cost of $19.55 per share, with a total value of $455,515.00. Following the purchase, the insider now owns 7,540,306 shares in the company, valued at $147,412,982.30. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, 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 transaction, the insider now directly owns 943,317 shares in the company, valued at approximately $18,338,082.48. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders bought 33,159 shares of company stock valued at $650,776 and sold 35,713 shares valued at $729,117. Insiders own 24.34% of the company’s stock.

Atlas Energy Solutions Company Profile

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.