Alight (NYSE:ALIT) Posts Quarterly Earnings Results, Meets Estimates

Alight (NYSE:ALIT) announced its quarterly earnings data on Tuesday. The company reported $0.09 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.09, Briefing.com reports. Alight had a negative net margin of 7.95% and a positive return on equity of 5.53%. The company had revenue of $555.00 million for the quarter, compared to analysts’ expectations of $538.39 million. During the same quarter in the previous year, the company posted $0.07 EPS. The business’s revenue was down .4% compared to the same quarter last year. Alight updated its Q4 guidance to $0.22-0.27 EPS and its Q4 2024 guidance to 0.220-0.270 EPS.

Alight Stock Down 0.2 %

Alight stock traded down $0.02 during trading hours on Wednesday, hitting $8.44. The company had a trading volume of 7,182,041 shares, compared to its average volume of 5,674,084. The firm’s fifty day moving average is $7.23 and its 200-day moving average is $7.41. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.37 and a quick ratio of 1.37. Alight has a fifty-two week low of $6.15 and a fifty-two week high of $10.38. The firm has a market capitalization of $4.61 billion, a P/E ratio of -17.71 and a beta of 0.87.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on ALIT shares. JPMorgan Chase & Co. lowered Alight from an “overweight” rating to a “neutral” rating and set a $8.00 price objective for the company. in a research note on Tuesday, August 20th. Needham & Company LLC increased their price target on Alight from $9.00 to $11.00 and gave the company a “buy” rating in a research report on Wednesday. Canaccord Genuity Group lifted their price target on Alight from $11.00 to $12.00 and gave the stock a “buy” rating in a research note on Wednesday. KeyCorp upped their price objective on shares of Alight from $10.00 to $11.00 and gave the company an “overweight” rating in a research note on Wednesday. Finally, Citigroup dropped their target price on shares of Alight from $12.00 to $11.00 and set a “buy” rating on the stock in a research report on Thursday, August 29th. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, Alight has an average rating of “Moderate Buy” and an average price target of $10.95.

Alight Company Profile

Alight, Inc provides cloud-based integrated digital human capital and business solutions worldwide. The company operates through two segments, Employer Solutions and Professional Services. The Employer Solutions segment offers employee wellbeing, integrated benefits administration, healthcare navigation, financial wellbeing, leave of absence management, retiree healthcare and payroll; and operates AI-led capabilities software.