Atlas Energy Solutions (NYSE:AESI) Releases Quarterly Earnings Results, Misses Estimates By $0.18 EPS

Key Points

• Atlas Energy Solutions reported a quarterly earnings per share of (-0.04), missing the consensus estimate of (0.15) by (0.19), despite a 0.4% increase in revenue from the previous year.
• The company's stock price declined by $0.11 to $12.40 amid mixed analyst ratings, with a consensus rating of "Hold" and an average price target of $19.11.
• Insider activity indicated confidence in the company, as directors purchased shares; Director Douglas G. Rogers increased his position by 233.33%, and Chairman Ben M. Brigham acquired additional shares as well.

Atlas Energy Solutions (NYSE:AESI - Get Free Report) announced its quarterly earnings data on Monday. The company reported ($0.04) EPS for the quarter, missing analysts' consensus estimates of $0.14 by ($0.18), Briefing.com reports. Atlas Energy Solutions had a net margin of 1.20% and a return on equity of 3.11%. The firm had revenue of $288.68 million during the quarter, compared to the consensus estimate of $293.56 million. During the same period last year, the business earned $0.13 EPS. The business's revenue was up .4% on a year-over-year basis.

Atlas Energy Solutions Trading Down 0.4%

Shares of NYSE:AESI traded down $0.04 during mid-day trading on Friday, hitting $11.76. The company had a trading volume of 592,257 shares, compared to its average volume of 1,735,221. The firm has a fifty day moving average price of $13.61 and a 200 day moving average price of $15.95. Atlas Energy Solutions has a one year low of $11.60 and a one year high of $26.86. The company has a market capitalization of $1.45 billion, a PE ratio of 84.18 and a beta of 1.19. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.56 and a quick ratio of 1.40.

Atlas Energy Solutions Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 21st. Stockholders of record on Thursday, August 14th will be paid a $0.25 dividend. The ex-dividend date is Thursday, August 14th. This represents a $1.00 annualized dividend and a dividend yield of 8.5%. Atlas Energy Solutions's payout ratio is currently 714.29%.

Insider Activity

In other news, Chairman Ben M. Brigham bought 9,635 shares of the firm's stock in a transaction that occurred on Wednesday, May 14th. The stock was acquired at an average cost of $13.38 per share, with a total value of $128,916.30. Following the transaction, the chairman directly owned 572,397 shares of the company's stock, valued at approximately $7,658,671.86. This represents a 1.71% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Douglas G. Rogers purchased 7,000 shares of Atlas Energy Solutions stock in a transaction that occurred on Wednesday, May 14th. The stock was acquired at an average cost of $13.27 per share, with a total value of $92,890.00. Following the transaction, the director owned 10,000 shares in the company, valued at $132,700. This trade represents a 233.33% increase in their position. The disclosure for this purchase can be found here. 15.98% of the stock is currently owned by corporate insiders.

Institutional Trading of Atlas Energy Solutions

Large investors have recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. raised its stake in Atlas Energy Solutions by 18.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,409,054 shares of the company's stock valued at $25,138,000 after acquiring an additional 219,834 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Atlas Energy Solutions by 14.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 44,209 shares of the company's stock valued at $789,000 after purchasing an additional 5,579 shares in the last quarter. Finally, Royal Bank of Canada increased its stake in Atlas Energy Solutions by 26.0% in the 1st quarter. Royal Bank of Canada now owns 249,793 shares of the company's stock worth $4,456,000 after acquiring an additional 51,477 shares during the last quarter. Hedge funds and other institutional investors own 34.59% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Royal Bank Of Canada reduced their target price on shares of Atlas Energy Solutions from $21.00 to $17.00 and set an "outperform" rating for the company in a report on Wednesday, May 7th. The Goldman Sachs Group dropped their price target on shares of Atlas Energy Solutions from $22.00 to $15.00 and set a "neutral" rating for the company in a research report on Thursday, April 10th. Citigroup reduced their price objective on shares of Atlas Energy Solutions from $18.00 to $14.00 and set a "neutral" rating on the stock in a research note on Tuesday, May 13th. Piper Sandler reiterated a "neutral" rating and issued a $16.00 price target on shares of Atlas Energy Solutions in a research note on Tuesday, July 15th. Finally, Stifel Nicolaus lowered their price objective on shares of Atlas Energy Solutions from $15.00 to $14.50 and set a "buy" rating for the company in a research report on Wednesday, July 16th. Seven analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $19.11.

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.