Simulations Plus (NASDAQ:SLP) Announces Quarterly Earnings Results, Beats Estimates By $0.04 EPS

Simulations Plus (NASDAQ:SLP) announced its quarterly earnings data on Tuesday. The technology company reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.15 by $0.04, Briefing.com reports. Simulations Plus had a net margin of 14.36% and a return on equity of 7.80%. The business had revenue of $18.54 million for the quarter, compared to analyst estimates of $17.92 million. During the same period in the prior year, the business posted $0.20 earnings per share. Simulations Plus’s revenue was up 14.2% compared to the same quarter last year. Simulations Plus updated its FY24 guidance to $0.54-0.56 EPS and its FY 2024 guidance to 0.540-0.560 EPS.

Simulations Plus Stock Down 14.9 %

Shares of NASDAQ SLP traded down $6.97 during mid-day trading on Thursday, reaching $39.89. 340,703 shares of the company were exchanged, compared to its average volume of 109,728. The company’s 50-day simple moving average is $47.68 and its 200-day simple moving average is $44.15. The stock has a market capitalization of $797.40 million, a P/E ratio of 75.26 and a beta of 0.72. Simulations Plus has a twelve month low of $32.69 and a twelve month high of $52.69.

Simulations Plus Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, August 5th. Shareholders of record on Monday, July 29th will be paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 0.60%. The ex-dividend date is Monday, July 29th. Simulations Plus’s dividend payout ratio is currently 45.28%.

Insider Transactions at Simulations Plus

In other news, Director Walter S. Woltosz sold 20,000 shares of the firm’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $46.71, for a total transaction of $934,200.00. Following the completion of the sale, the director now owns 3,540,857 shares in the company, valued at approximately $165,393,430.47. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, Director Walter S. Woltosz sold 20,000 shares of the firm’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $46.71, for a total transaction of $934,200.00. Following the transaction, the director now directly owns 3,540,857 shares of the company’s stock, valued at $165,393,430.47. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Daniel L. Weiner sold 750 shares of the firm’s stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $49.32, for a total transaction of $36,990.00. Following the transaction, the director now directly owns 7,009 shares in the company, valued at $345,683.88. The disclosure for this sale can be found here. In the last 90 days, insiders sold 44,500 shares of company stock worth $2,072,198. 20.90% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

SLP has been the subject of several recent analyst reports. Craig Hallum reaffirmed a “buy” rating and issued a $56.00 target price on shares of Simulations Plus in a research note on Wednesday. Oppenheimer upped their target price on shares of Simulations Plus from $55.00 to $65.00 and gave the company an “outperform” rating in a research note on Thursday, June 13th. Finally, William Blair initiated coverage on shares of Simulations Plus in a research note on Friday, June 28th. They issued an “outperform” rating for the company.

About Simulations Plus

Simulations Plus, Inc develops drug discovery and development software for modeling and simulation, and prediction of molecular properties utilizing artificial intelligence and machine learning based technology worldwide. The company operates through two segments, Software and Services. It offers GastroPlus, which simulates the absorption and drug interaction of compounds administered to humans and animals; and DDDPlus and MembranePlus simulation products.