Alight (NYSE:ALIT) Releases Earnings Results

Alight (NYSE:ALIT) posted its quarterly earnings results on Tuesday. The company reported $0.09 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.09, Briefing.com reports. The firm had revenue of $555.00 million for the quarter, compared to analysts’ expectations of $538.39 million. Alight had a positive return on equity of 5.53% and a negative net margin of 7.95%. The company’s revenue for the quarter was down .4% compared to the same quarter last year. During the same period in the prior year, the business 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 NYSE ALIT traded down $0.02 during trading on Wednesday, hitting $8.44. The company had a trading volume of 5,886,727 shares, compared to its average volume of 5,668,196. The stock has a fifty day simple moving average of $7.23 and a two-hundred day simple moving average of $7.41. Alight has a fifty-two week low of $6.15 and a fifty-two week high of $10.38. The firm has a market capitalization of $4.61 billion, a price-to-earnings ratio of -17.71 and a beta of 0.87. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.55.

Wall Street Analyst Weigh In

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