Alight (NYSE:ALIT) Releases Quarterly Earnings Results

Alight (NYSE:ALIT) released 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 business had revenue of $555.00 million for 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 company’s quarterly revenue was down .4% on a year-over-year basis. During the same period 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 Price Performance

ALIT stock traded down $0.54 during mid-day trading on Thursday, hitting $7.89. 9,855,532 shares of the stock were exchanged, compared to its average volume of 5,753,719. Alight has a 12 month low of $6.15 and a 12 month 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 price of $7.26 and a 200 day moving average price of $7.42. The stock has a market capitalization of $4.31 billion, a price-to-earnings ratio of -16.43 and a beta of 0.87.

Alight Announces Dividend

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

Insider Activity at Alight

In other news, Director William P. Foley II sold 5,000,000 shares of the stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $8.25, for a total transaction of $41,250,000.00. Following the transaction, the director now directly owns 883,323 shares of the company’s stock, valued at $7,287,414.75. This represents a 84.99 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 5.33% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities analysts have weighed in on ALIT shares. Needham & Company LLC lifted their target price on Alight from $9.00 to $11.00 and gave the company a “buy” rating in a research note on Wednesday. Citigroup dropped their price objective on Alight from $12.00 to $11.00 and set a “buy” rating for the company in a research note on Thursday, August 29th. JPMorgan Chase & Co. lowered Alight from an “overweight” rating to a “neutral” rating and set a $8.00 target price on the stock. in a research note on Tuesday, August 20th. KeyCorp lifted their target price on Alight from $10.00 to $11.00 and gave the company an “overweight” rating in a research report on Wednesday. Finally, Canaccord Genuity Group lifted their target price on Alight from $11.00 to $12.00 and gave the stock a “buy” rating in a research note on Wednesday. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $10.95.

Alight Company Profile

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.