Alight (ALIT) Set to Announce Quarterly Earnings on Wednesday

Alight (NYSE:ALIT) will be announcing its earnings results before the market opens on Wednesday, May 8th. Analysts expect the company to announce earnings of $0.12 per share for the quarter. Alight has set its FY 2024 guidance at 0.720-0.770 EPS and its FY24 guidance at $0.72-0.77 EPS.Individual that wish to listen to the company’s earnings conference call can do so using this link.

Alight (NYSE:ALIT) last issued its quarterly earnings data on Wednesday, February 21st. The company reported $0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.06. The business had revenue of $960.00 million for the quarter, compared to the consensus estimate of $1.03 billion. Alight had a positive return on equity of 5.09% and a negative net margin of 7.80%. On average, analysts expect Alight to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Alight Trading Up 0.1 %

Shares of Alight stock traded up $0.01 on Tuesday, reaching $9.32. The company had a trading volume of 161,494 shares, compared to its average volume of 6,244,074. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.27 and a quick ratio of 1.27. The firm’s 50-day moving average price is $9.27 and its two-hundred day moving average price is $8.54. Alight has a 1 year low of $6.33 and a 1 year high of $10.38.

Insider Transactions at Alight

In other Alight news, insider Katie J. Rooney sold 26,164 shares of the company’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $8.95, for a total transaction of $234,167.80. Following the completion of the sale, the insider now owns 2,963,694 shares in the company, valued at $26,525,061.30. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, CEO Stephan Scholl sold 83,016 shares of the business’s stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $95.10, for a total transaction of $7,894,821.60. Following the sale, the chief executive officer now owns 8,115,183 shares in the company, valued at $771,753,903.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Katie J. Rooney sold 26,164 shares of the company’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $8.95, for a total transaction of $234,167.80. Following the transaction, the insider now owns 2,963,694 shares in the company, valued at approximately $26,525,061.30. The disclosure for this sale can be found here. Over the last three months, insiders have sold 543,029 shares of company stock valued at $12,385,217. 3.66% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several brokerages have recently weighed in on ALIT. Canaccord Genuity Group increased their target price on shares of Alight from $12.00 to $13.00 and gave the company a “buy” rating in a research note on Thursday, March 21st. UBS Group increased their price objective on shares of Alight from $12.00 to $13.00 and gave the stock a “buy” rating in a research report on Thursday, March 21st. Wedbush restated an “outperform” rating and set a $14.00 target price on shares of Alight in a research report on Thursday, April 25th. Finally, Needham & Company LLC increased their price target on Alight from $12.00 to $13.00 and gave the stock a “buy” rating in a report on Thursday, March 21st. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Alight currently has an average rating of “Buy” and an average target price of $12.71.

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.