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

Alight (NYSE:ALIT) released its quarterly earnings data 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 negative net margin of 7.95% and a positive return on equity of 5.53%. Alight’s quarterly revenue was down .4% on a year-over-year basis. During the same quarter 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 Price Performance

Shares of ALIT traded down $0.54 during trading hours on Thursday, hitting $7.89. The stock had a trading volume of 9,855,532 shares, compared to its average volume of 5,753,719. The company’s fifty day moving average is $7.26 and its two-hundred day moving average is $7.42. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.37 and a quick ratio of 1.37. Alight has a 52 week low of $6.15 and a 52 week high of $10.38. 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 Dividend Announcement

The firm also recently disclosed a — dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be paid a $0.04 dividend. The ex-dividend date is Monday, December 2nd.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Canaccord Genuity Group raised their price target on shares of Alight from $11.00 to $12.00 and gave the company a “buy” rating in a research report on Wednesday. Wedbush cut their price target on shares of Alight from $12.00 to $10.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. 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. KeyCorp increased their price target on shares of Alight from $10.00 to $11.00 and gave the company an “overweight” rating in a research report on Wednesday. Finally, JPMorgan Chase & Co. lowered shares of Alight from an “overweight” rating to a “neutral” rating and set a $8.00 target price on the stock. in a research report on Tuesday, August 20th. 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 currently has an average rating of “Moderate Buy” and an average price target of $10.95.

Insider Transactions at Alight

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

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.