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

Alight (NYSE:ALIT) announced its earnings results on Tuesday. The company reported $0.09 earnings per share for the quarter, hitting the consensus estimate of $0.09, Briefing.com reports. The firm had revenue of $555.00 million for the quarter, compared to the consensus estimate 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 for the quarter was down .4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.07 EPS. Alight updated its Q4 guidance to $0.22-0.27 EPS and its Q4 2024 guidance to 0.220-0.270 EPS.

Alight Stock Performance

Shares of ALIT stock opened at $8.43 on Thursday. The stock’s 50-day moving average is $7.25 and its two-hundred day moving average is $7.42. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.37 and a current ratio of 1.37. Alight has a 1 year low of $6.15 and a 1 year high of $10.38. The firm has a market cap of $4.60 billion, a price-to-earnings ratio of -17.55 and a beta of 0.87.

Alight Announces Dividend

The business also recently declared 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.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. Needham & Company LLC increased their price objective on Alight from $9.00 to $11.00 and gave the company a “buy” rating in a research note on Wednesday. JPMorgan Chase & Co. cut 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. Wedbush cut their target price on shares of Alight from $12.00 to $10.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. KeyCorp lifted their price target on shares of Alight from $10.00 to $11.00 and gave the stock an “overweight” rating in a research note on Wednesday. Finally, Citigroup lowered their price target on shares of Alight from $12.00 to $11.00 and set a “buy” rating for the company in a report on Thursday, August 29th. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target 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.