Alight (NYSE:ALIT) Posts Earnings Results, Hits Expectations

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

Alight Price Performance

NYSE:ALIT opened at $8.43 on Thursday. The company has a market capitalization of $4.60 billion, a P/E ratio of -17.55 and a beta of 0.87. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.55. Alight has a 52 week low of $6.15 and a 52 week high of $10.38. The stock’s fifty day moving average is $7.25 and its two-hundred day moving average is $7.42.

Alight Announces Dividend

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

Wall Street Analysts Forecast Growth

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

About Alight

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.