Alight (NYSE:ALIT) Issues Quarterly Earnings Results, Meets Estimates

Alight (NYSE:ALIT) announced its earnings results on Tuesday. The company reported $0.09 earnings per share for the quarter, meeting the consensus estimate of $0.09, Briefing.com reports. Alight had a negative net margin of 7.95% and a positive return on equity of 5.53%. The firm had revenue of $555.00 million during the quarter, compared to the consensus estimate of $538.39 million. During the same quarter in the previous year, the company posted $0.07 EPS. The firm’s revenue for the quarter was down .4% on a year-over-year basis. Alight updated its Q4 guidance to $0.22-0.27 EPS and its Q4 2024 guidance to 0.220-0.270 EPS.

Alight Stock Down 0.2 %

Shares of Alight stock traded down $0.02 during trading hours on Wednesday, reaching $8.44. 5,886,727 shares of the company’s stock were exchanged, compared to its average volume of 5,668,196. The company has a 50 day moving average of $7.23 and a two-hundred day 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 company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.55. The stock has a market cap of $4.61 billion, a P/E ratio of -17.71 and a beta of 0.87.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on ALIT shares. JPMorgan Chase & Co. cut Alight from an “overweight” rating to a “neutral” rating and set a $8.00 target price for the company. in a research note on Tuesday, August 20th. Citigroup reduced their target price on Alight from $12.00 to $11.00 and set a “buy” rating for the company in a research note on Thursday, August 29th. Wedbush dropped their price target on Alight from $12.00 to $10.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Needham & Company LLC raised their price objective on shares of Alight from $9.00 to $11.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, KeyCorp raised their price objective on Alight from $10.00 to $11.00 and gave the company an “overweight” rating in a research note on Wednesday. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $10.95.

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.