Alta Equipment Group (NYSE:ALTG) Releases Earnings Results, Misses Expectations By $0.03 EPS

Alta Equipment Group (NYSE:ALTG) posted its earnings results on Wednesday. The company reported ($0.34) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.03), Zacks reports. Alta Equipment Group had a negative return on equity of 42.09% and a negative net margin of 2.81%.

Alta Equipment Group Stock Performance

Alta Equipment Group stock traded up $0.32 during midday trading on Wednesday, hitting $5.08. The company’s stock had a trading volume of 282,299 shares, compared to its average volume of 162,519. Alta Equipment Group has a 1-year low of $4.65 and a 1-year high of $13.67. The company has a debt-to-equity ratio of 7.45, a current ratio of 1.35 and a quick ratio of 0.43. The company has a 50-day moving average price of $6.82 and a two-hundred day moving average price of $6.82. The company has a market cap of $168.77 million, a price-to-earnings ratio of -2.99 and a beta of 1.81.

Alta Equipment Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Saturday, February 15th were paid a $0.057 dividend. This represents a $0.23 annualized dividend and a yield of 4.49%. The ex-dividend date of this dividend was Friday, February 14th. Alta Equipment Group’s dividend payout ratio (DPR) is -12.94%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Northland Capmk cut shares of Alta Equipment Group from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 13th. Northland Securities restated a “market perform” rating and set a $20.00 target price (down previously from $30.00) on shares of Alta Equipment Group in a research note on Wednesday, November 13th. Finally, Raymond James cut their target price on shares of Alta Equipment Group from $10.00 to $9.00 and set a “market perform” rating for the company in a research note on Thursday, November 14th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, Alta Equipment Group has a consensus rating of “Hold” and a consensus target price of $15.75.

Alta Equipment Group Company Profile

Alta Equipment Group Inc owns and operates integrated equipment dealership platforms in the United States. It operates through three segments: Material Handling, Construction Equipment, and Master Distribution. The company operates a branch network that sells, rents, and provides parts and service support for various categories of specialized equipment, including lift trucks and other material handling equipment, heavy and compact earthmoving equipment, crushing and screening equipment, environmental processing equipment, cranes and aerial work platforms, paving and asphalt equipment, and other construction equipment and related products.