Altair Engineering (ALTR) Set to Announce Earnings on Wednesday

Altair Engineering (NASDAQ:ALTR) will issue its quarterly earnings data after the market closes on Wednesday, October 30th. Analysts expect the company to announce earnings of $0.16 per share for the quarter. Altair Engineering has set its FY 2024 guidance at EPS and its Q3 2024 guidance at EPS.Parties interested in registering for the company’s conference call can do so using this link.

Altair Engineering (NASDAQ:ALTR) last released its earnings results on Thursday, August 1st. The software reported $0.16 earnings per share for the quarter, topping analysts’ consensus estimates of $0.15 by $0.01. The firm had revenue of $148.80 million during the quarter, compared to analyst estimates of $146.88 million. Altair Engineering had a net margin of 4.26% and a return on equity of 6.89%. The business’s revenue was up 5.4% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.15) EPS. On average, analysts expect Altair Engineering to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Altair Engineering Stock Up 8.2 %

Altair Engineering stock opened at $103.00 on Wednesday. The firm has a market cap of $8.55 billion, a price-to-earnings ratio of 1,144.44, a P/E/G ratio of 12.15 and a beta of 1.45. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.14 and a quick ratio of 3.14. Altair Engineering has a fifty-two week low of $57.59 and a fifty-two week high of $108.72. The firm has a fifty day moving average price of $91.53 and a two-hundred day moving average price of $90.28.

Insider Activity

In other news, Director Teresa A. Harris sold 620 shares of the stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $82.57, for a total transaction of $51,193.40. Following the sale, the director now directly owns 21,242 shares of the company’s stock, valued at $1,753,951.94. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Altair Engineering news, Director Teresa A. Harris sold 620 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $82.57, for a total value of $51,193.40. Following the transaction, the director now directly owns 21,242 shares of the company’s stock, valued at approximately $1,753,951.94. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO James Ralph Scapa sold 13,000 shares of the firm’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $88.11, for a total transaction of $1,145,430.00. Following the completion of the transaction, the chief executive officer now directly owns 134,045 shares in the company, valued at approximately $11,810,704.95. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 260,360 shares of company stock valued at $24,537,300 over the last three months. 21.75% of the stock is owned by insiders.

Analysts Set New Price Targets

ALTR has been the subject of a number of research analyst reports. Needham & Company LLC reissued a “buy” rating and set a $100.00 target price on shares of Altair Engineering in a research report on Friday, August 2nd. JPMorgan Chase & Co. lowered shares of Altair Engineering from an “overweight” rating to a “neutral” rating and set a $95.00 price objective for the company. in a research report on Monday, July 15th. Finally, The Goldman Sachs Group lowered shares of Altair Engineering from a “neutral” rating to a “sell” rating and cut their price objective for the company from $85.00 to $71.00 in a research report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $90.67.

About Altair Engineering

Altair Engineering Inc, together with its subsidiaries, provides software and cloud solutions in the areas of simulation and design, high-performance computing, data analytics, and artificial intelligence in the United States and internationally. It operates in two segments, Software and Client Engineering Services.