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

Alight (NYSE:ALIT) released its earnings results on Tuesday. The company reported $0.09 EPS for the quarter, meeting analysts’ consensus estimates of $0.09, Briefing.com reports. The company had revenue of $555.00 million during the quarter, compared to the consensus estimate of $538.39 million. Alight had a positive return on equity of 5.53% and a negative net margin of 7.95%. Alight’s quarterly revenue was down .4% compared to the same quarter last year. During the same quarter last year, the company earned $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 Stock Performance

Shares of Alight stock traded down $0.23 during trading hours on Thursday, hitting $8.19. The company’s stock had a trading volume of 1,487,709 shares, compared to its average volume of 5,715,855. Alight has a 1-year low of $6.15 and a 1-year high of $10.38. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.37 and a quick ratio of 1.37. The business has a fifty day moving average of $7.25 and a 200 day moving average of $7.42.

Alight Dividend Announcement

The company also recently announced a — dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be issued a dividend of $0.04 per share. The ex-dividend date of this dividend is Monday, December 2nd.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on ALIT. Needham & Company LLC increased their target price on shares of Alight from $9.00 to $11.00 and gave the company a “buy” rating in a report 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 report on Tuesday, August 20th. KeyCorp upped their price target on shares of Alight from $10.00 to $11.00 and gave the company an “overweight” rating in a report on Wednesday. Citigroup decreased their price objective on Alight from $12.00 to $11.00 and set a “buy” rating on the stock in a research note on Thursday, August 29th. Finally, Canaccord Genuity Group boosted their price target on Alight from $11.00 to $12.00 and gave the company a “buy” rating in a report on Wednesday. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, Alight currently 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.