Alight (NYSE:ALIT) Updates Q4 Earnings Guidance

Alight (NYSE:ALIT) issued an update on its fourth quarter earnings guidance on Tuesday morning. The company provided earnings per share guidance of $0.22-0.27 for the period, compared to the consensus earnings per share estimate of $0.22. The company issued revenue guidance of $665-685 million, compared to the consensus revenue estimate of $679.50 million. Alight also updated its Q4 2024 guidance to 0.220-0.270 EPS.

Alight Price Performance

Alight stock traded down $0.23 during midday trading on Friday, hitting $7.66. 1,911,297 shares of the company were exchanged, compared to its average volume of 5,736,413. Alight has a fifty-two week low of $6.15 and a fifty-two week high of $10.38. The business has a fifty day simple moving average of $7.26 and a two-hundred day simple moving average of $7.42. The company has a quick ratio of 1.37, a current ratio of 1.30 and a debt-to-equity ratio of 0.46.

Alight (NYSE:ALIT) last issued its quarterly earnings results on Tuesday, November 12th. The company reported $0.09 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.09. The company had revenue of $555.00 million for the quarter, compared to the consensus estimate of $538.39 million. Alight had a positive return on equity of 5.61% and a negative net margin of 7.95%. Alight’s revenue for the quarter was down .4% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.07 earnings per share. Research analysts forecast that Alight will post 0.42 earnings per share for the current year.

Alight Announces Dividend

The firm also recently declared a — dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be given a dividend of $0.04 per share. The ex-dividend date of this dividend is Monday, December 2nd.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Citigroup lowered 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. Needham & Company LLC increased their price target on Alight from $9.00 to $11.00 and gave the stock a “buy” rating in a research report on Wednesday. Canaccord Genuity Group raised their target price on Alight from $11.00 to $12.00 and gave the company a “buy” rating in a research report on Wednesday. KeyCorp raised their target price on Alight from $10.00 to $11.00 and gave the company an “overweight” rating in a research report on Wednesday. Finally, Wedbush decreased their target price on Alight from $12.00 to $10.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. One analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $10.95.

Insider Activity at Alight

In related news, Director William P. Foley II sold 5,000,000 shares of the stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $8.25, for a total value of $41,250,000.00. Following the completion of the sale, the director now owns 883,323 shares of the company’s stock, valued at approximately $7,287,414.75. This trade represents a 84.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 5.33% of the company’s stock.

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.