Alight (NYSE:ALIT) Updates Q4 Earnings Guidance

15 Nov 2024, 10:46 by Doug Wharley · The Cerbat Gem

Alight (NYSE:ALIT – Get Free Report) issued an update on its fourth quarter earnings guidance on Tuesday morning. The company provided earnings per share guidance of $0.22-0.27 for the period, compared to the consensus earnings per share estimate of $0.22. The company issued revenue guidance of $665-685 million, compared to the consensus revenue estimate of $679.50 million. Alight also updated its Q4 2024 guidance to 0.220-0.270 EPS.

Alight Price Performance

Alight stock traded down $0.23 during midday trading on Friday, hitting $7.66. 1,911,297 shares of the company were exchanged, compared to its average volume of 5,736,413. Alight has a fifty-two week low of $6.15 and a fifty-two week high of $10.38. The business has a fifty day simple moving average of $7.26 and a two-hundred day simple moving average of $7.42. The company has a quick ratio of 1.37, a current ratio of 1.30 and a debt-to-equity ratio of 0.46.

Alight (NYSE:ALIT – Get Free Report) last issued its quarterly earnings results on Tuesday, November 12th. The company reported $0.09 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.09. The company had revenue of $555.00 million for the quarter, compared to the consensus estimate of $538.39 million. Alight had a positive return on equity of 5.61% and a negative net margin of 7.95%. Alight’s revenue for the quarter was down .4% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.07 earnings per share. Research analysts forecast that Alight will post 0.42 earnings per share for the current year.

Alight Announces Dividend

The firm also recently declared a — dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be given a dividend of $0.04 per share. The ex-dividend date of this dividend is Monday, December 2nd.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Citigroup lowered their price target on Alight from $12.00 to $11.00 and set a “buy” rating on the stock in a research report on Thursday, August 29th. Needham & Company LLC increased their price target on Alight from $9.00 to $11.00 and gave the stock a “buy” rating in a research report on Wednesday. Canaccord Genuity Group raised their target price on Alight from $11.00 to $12.00 and gave the company a “buy” rating in a research report on Wednesday. KeyCorp raised their target price on Alight from $10.00 to $11.00 and gave the company an “overweight” rating in a research report on Wednesday. Finally, Wedbush decreased their target price on Alight from $12.00 to $10.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. One analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $10.95.

View Our Latest Research Report on ALIT

Insider Activity at Alight

In related news, Director William P. Foley II sold 5,000,000 shares of the stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $8.25, for a total value of $41,250,000.00. Following the completion of the sale, the director now owns 883,323 shares of the company’s stock, valued at approximately $7,287,414.75. This trade represents a 84.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 5.33% of the company’s stock.

About Alight

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