Based in Dallas, Texas, Atmos Energy Corporation (ATO) is a prominent natural gas distributor dedicated to delivering safe and efficient energy solutions. With a market cap of $18.79 billion, Atmos Energy is well-regarded for its commitment to operational excellence and its extensive network of natural gas distribution assets. The company is poised to announce its fiscal Q3 earnings results on Thursday, Aug. 8.
Ahead of the event, analysts expect ATO to report a profit of $1.09 per share, up 16% from $0.94 per share in the year-ago quarter. In the last four quarters, the company has surpassed Wall Street’s bottom-line estimates in two and missed on other occasions.
Its adjusted earnings of $2.85 per share for the last quarter surpassed the consensus estimate by 8.8%. The company’s performance was driven by increased revenues in its distribution and pipeline segments and higher operating income.
For fiscal 2024, analysts expect ATO to report EPS of $6.78, up 11.2% from $6.10 in fiscal 2023.
ATO stock has gained 7.5% on a YTD basis, underperforming the broader S&P 500 Index's ($SPX) 16.5% gains and the iShares U.S. Utilities ETF’s (IDU) 13.3% returns over the same time frame.
On May 8, ATO reported its Q1 results. The company’s revenue and profit were $1.65 billion and $432 million, respectively. Shares of ATO closed down less than 1% in the session following the day after the results were released.
The consensus opinion on ATO stock is optimistic, with an overall “Moderate Buy” rating. Out of nine analysts covering the stock, four advise a “Strong Buy” rating, one suggests a “Moderate Buy,” and four recommend a “Hold.”
This configuration is more bullish than three months ago when the stock had three “Strong Buy” ratings. ATO's average analyst price target is $127.71, indicating a potential upside of 2.5% from the current levels.
On the date of publication, Rashmi Kumari did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
