Atlas Energy Solutions (NYSE:AESI) Announces Earnings Results, Misses Estimates By $0.25 EPS

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

Atlas Energy Solutions Stock Performance

Atlas Energy Solutions stock traded down $0.55 during midday trading on Wednesday, reaching $19.82. 730,135 shares of the stock traded hands, 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 current ratio of 1.53, a quick ratio of 1.35 and a debt-to-equity ratio of 0.42. The firm has a market cap of $2.18 billion, a price-to-earnings ratio of 25.09, a PEG ratio of 6.47 and a beta of 0.56. The firm has a fifty day moving average price of $21.00 and a two-hundred day moving average price of $21.24.

Atlas Energy Solutions Increases Dividend

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

Insider Buying and Selling at Atlas Energy Solutions

In related news, major shareholder Brian Anthony Leveille sold 10,000 shares of the stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $20.50, for a total value of $205,000.00. Following the completion of the transaction, the insider now directly owns 542,010 shares of the company’s stock, valued at $11,111,205. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, major shareholder Brian Anthony Leveille sold 10,000 shares of Atlas Energy Solutions stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $20.50, for a total transaction of $205,000.00. Following the sale, the insider now directly owns 542,010 shares in the company, valued at $11,111,205. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Stacy Hock sold 8,571 shares of the stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $20.22, for a total transaction of $173,305.62. Following the completion of the transaction, the insider now owns 951,888 shares of the company’s stock, valued at $19,247,175.36. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have bought 33,159 shares of company stock worth $650,776 and have sold 35,713 shares worth $729,117. 24.34% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of analysts recently issued reports on AESI shares. Bank of America dropped their price target on shares of Atlas Energy Solutions from $25.00 to $24.00 and set a “buy” rating for the company in a research note on Monday, July 15th. Stephens restated an “overweight” rating and issued a $28.00 target price on shares of Atlas Energy Solutions in a research note on Tuesday, August 6th. Piper Sandler decreased their price target 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. The Goldman Sachs Group cut their price objective on Atlas Energy Solutions from $28.00 to $25.00 and set a “buy” rating on the stock in a research note on Thursday, August 29th. Finally, Benchmark reiterated a “buy” rating and issued a $27.00 target price on shares of Atlas Energy Solutions in a research report on Tuesday, August 6th. One equities 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 stock. Based on data from MarketBeat, Atlas Energy Solutions currently has an average rating of “Buy” and a consensus 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.