Altair Engineering (ALTR) Scheduled to Post Quarterly Earnings on Wednesday

Altair Engineering (NASDAQ:ALTR) is set to 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 that are interested in participating in the company’s conference call can do so using this link.

Altair Engineering (NASDAQ:ALTR) last released its quarterly earnings data on Thursday, August 1st. The software reported $0.16 earnings per share for the quarter, topping the consensus estimate of $0.15 by $0.01. The business had revenue of $148.80 million during the quarter, compared to analyst estimates of $146.88 million. Altair Engineering had a return on equity of 6.89% and a net margin of 4.26%. The company’s revenue was up 5.4% compared to the same quarter last year. During the same period last year, the company posted ($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 Performance

ALTR opened at $102.00 on Tuesday. The firm has a market cap of $8.47 billion, a PE ratio of 1,133.33, a P/E/G ratio of 12.15 and a beta of 1.45. The company has a quick ratio of 3.14, a current ratio of 3.14 and a debt-to-equity ratio of 0.29. The business has a fifty day simple moving average of $92.85 and a 200-day simple moving average of $90.97. Altair Engineering has a fifty-two week low of $57.59 and a fifty-two week high of $112.15.

Insider Buying and Selling

In related news, Director Teresa A. Harris sold 620 shares of the stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $82.57, for a total transaction of $51,193.40. Following the completion of the sale, the director now directly owns 21,242 shares in the company, 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 is accessible through the SEC website. In related news, Director Teresa A. Harris sold 620 shares of the stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $82.57, for a total transaction of $51,193.40. Following the completion of the sale, the director now directly owns 21,242 shares in the company, 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 is accessible through the SEC website. Also, major shareholder Christ Revocable Trust sold 50,048 shares of the stock in a transaction on Friday, September 27th. The stock was sold at an average price of $95.07, for a total value of $4,758,063.36. Following the sale, the insider now owns 149,952 shares of the company’s stock, valued at approximately $14,255,936.64. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 340,860 shares of company stock worth $33,476,155. Corporate insiders own 21.75% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on ALTR. Royal Bank of Canada restated a “sector perform” rating and issued a $90.00 target price on shares of Altair Engineering in a report on Wednesday, October 23rd. Needham & Company LLC restated a “buy” rating and issued a $100.00 target price on shares of Altair Engineering in a report on Friday, August 2nd. The Goldman Sachs Group lowered Altair Engineering from a “neutral” rating to a “sell” rating and reduced their target price for the company from $85.00 to $71.00 in a report on Friday, August 2nd. Finally, JPMorgan Chase & Co. lowered Altair Engineering from an “overweight” rating to a “neutral” rating and set a $95.00 target price for the company. in a report on Monday, July 15th. 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 stock. Based on data from MarketBeat, Altair Engineering presently has an average rating of “Hold” and an average target price 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.