Alight (NYSE:ALIT) Releases Quarterly Earnings Results, Meets Expectations

Alight (NYSE:ALIT) posted its quarterly earnings results on Tuesday. The company reported $0.09 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.09, Briefing.com reports. Alight had a negative net margin of 7.95% and a positive return on equity of 5.61%. The business had revenue of $555.00 million during the quarter, compared to the consensus estimate of $538.39 million. During the same period in the previous year, the firm posted $0.07 earnings per share. Alight’s revenue for the quarter was down .4% compared to the same quarter last year. Alight updated its Q4 guidance to $0.22-0.27 EPS and its Q4 2024 guidance to 0.220-0.270 EPS.

Alight Trading Down 6.4 %

ALIT opened at $7.89 on Friday. The company has a current ratio of 1.30, a quick ratio of 1.37 and a debt-to-equity ratio of 0.46. The business’s 50-day simple moving average is $7.26 and its 200 day simple moving average is $7.42. Alight has a 52-week low of $6.15 and a 52-week high of $10.38.

Alight Dividend Announcement

The business also recently announced a — dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be given a $0.04 dividend. The ex-dividend date of this dividend is Monday, December 2nd.

Analysts Set New Price Targets

Several equities research analysts have commented on ALIT shares. KeyCorp increased their target price on shares of Alight from $10.00 to $11.00 and gave the stock an “overweight” rating in a report on Wednesday. Needham & Company LLC raised their price objective on Alight from $9.00 to $11.00 and gave the stock a “buy” rating in a research note on Wednesday. Wedbush cut their price objective on Alight from $12.00 to $10.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Canaccord Genuity Group lifted their price target on shares of Alight from $11.00 to $12.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, Citigroup cut their price objective on shares of Alight from $12.00 to $11.00 and set a “buy” rating on the stock in a research report on Thursday, August 29th. One analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $10.95.

Insiders Place Their Bets

In other news, Director William P. Foley II sold 5,000,000 shares of Alight stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $8.25, for a total value of $41,250,000.00. Following the completion of the transaction, the director now owns 883,323 shares of the company’s stock, valued at $7,287,414.75. This trade represents a 84.99 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at 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.