Simulations Plus (NASDAQ:SLP) Updates FY 2024 Earnings Guidance

Simulations Plus (NASDAQ:SLP) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided earnings per share guidance of 0.540-0.560 for the period, compared to the consensus earnings per share estimate of 0.550. The company issued revenue guidance of $69.0 million-$72.0 million, compared to the consensus revenue estimate of $70.9 million. Simulations Plus also updated its FY24 guidance to $0.54-0.56 EPS.

Simulations Plus Stock Up 1.5 %

Shares of NASDAQ:SLP traded up $0.68 during midday trading on Tuesday, reaching $46.86. 274,050 shares of the company traded hands, compared to its average volume of 102,895. Simulations Plus has a 12 month low of $32.69 and a 12 month high of $52.69. The firm has a market capitalization of $936.73 million, a price-to-earnings ratio of 86.58 and a beta of 0.72. The firm’s fifty day moving average price is $47.80 and its two-hundred day moving average price is $44.14.

Simulations Plus (NASDAQ:SLP) last posted its earnings results on Wednesday, April 3rd. The technology company reported $0.20 EPS for the quarter, topping the consensus estimate of $0.18 by $0.02. Simulations Plus had a return on equity of 7.95% and a net margin of 16.22%. The business had revenue of $18.31 million during the quarter, compared to analysts’ expectations of $17.31 million. During the same period in the previous year, the business earned $0.20 earnings per share. The firm’s revenue was up 16.2% on a year-over-year basis. Analysts forecast that Simulations Plus will post 0.55 earnings per share for the current year.

Simulations Plus Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, May 6th. Investors of record on Monday, April 29th were given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.51%. The ex-dividend date was Friday, April 26th. Simulations Plus’s payout ratio is 45.28%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on SLP shares. William Blair started coverage on Simulations Plus in a research report on Friday. They set an outperform rating for the company. Oppenheimer upped their price objective on Simulations Plus from $55.00 to $65.00 and gave the stock an outperform rating in a report on Thursday, June 13th. Finally, Craig Hallum upped their price objective on Simulations Plus from $51.00 to $56.00 and gave the stock a buy rating in a report on Thursday, June 13th.

Insider Activity

In other news, Director Walter S. Woltosz sold 20,000 shares of the business’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $46.71, for a total value of $934,200.00. Following the completion of the sale, the director now owns 3,540,857 shares of the company’s stock, valued at approximately $165,393,430.47. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other Simulations Plus news, Director Daniel L. Weiner sold 3,250 shares of the company’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $48.31, for a total transaction of $157,007.50. Following the completion of the transaction, the director now owns 8,759 shares of the company’s stock, valued at approximately $423,147.29. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Walter S. Woltosz sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $46.71, for a total value of $934,200.00. Following the transaction, the director now directly owns 3,540,857 shares of the company’s stock, valued at approximately $165,393,430.47. The disclosure for this sale can be found here. In the last quarter, insiders sold 44,500 shares of company stock valued at $2,072,198. Insiders own 20.90% of the company’s stock.

About Simulations Plus

Simulations Plus, Inc develops drug discovery and development software for modeling and simulation, and prediction of molecular properties utilizing artificial intelligence and machine learning based technology worldwide. The company operates through two segments, Software and Services. It offers GastroPlus, which simulates the absorption and drug interaction of compounds administered to humans and animals; and DDDPlus and MembranePlus simulation products.