Simulations Plus (NASDAQ:SLP) Posts Earnings Results, Beats Expectations By $0.04 EPS

Simulations Plus (NASDAQ:SLP) released its quarterly earnings data on Tuesday. The technology company reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.15 by $0.04, Briefing.com reports. The company had revenue of $18.54 million during the quarter, compared to analysts’ expectations of $17.92 million. Simulations Plus had a return on equity of 7.80% and a net margin of 14.36%. The business’s revenue was up 14.2% on a year-over-year basis. During the same period last year, the firm posted $0.20 earnings per share. Simulations Plus updated its FY24 guidance to $0.54-0.56 EPS and its FY 2024 guidance to 0.540-0.560 EPS.

Simulations Plus Stock Down 14.9 %

Shares of SLP traded down $6.97 during midday trading on Thursday, hitting $39.89. The company’s stock had a trading volume of 340,703 shares, compared to its average volume of 109,728. Simulations Plus has a one year low of $32.69 and a one year high of $52.69. The company’s fifty day simple moving average is $47.68 and its two-hundred day simple moving average is $44.15. The stock has a market capitalization of $797.40 million, a price-to-earnings ratio of 75.26 and a beta of 0.72.

Simulations Plus Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 5th. Shareholders of record on Monday, July 29th will be paid a dividend of $0.06 per share. The ex-dividend date is Monday, July 29th. This represents a $0.24 dividend on an annualized basis and a yield of 0.60%. Simulations Plus’s dividend payout ratio (DPR) is presently 45.28%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Oppenheimer lifted their price target on Simulations Plus from $55.00 to $65.00 and gave the stock an “outperform” rating in a report on Thursday, June 13th. William Blair assumed coverage on Simulations Plus in a report on Friday, June 28th. They set an “outperform” rating for the company. Finally, Craig Hallum reissued a “buy” rating and set a $56.00 price target on shares of Simulations Plus in a report on Wednesday.

Insider Activity

In other news, Director Walter S. Woltosz sold 20,000 shares of Simulations Plus stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $45.95, for a total value of $919,000.00. Following the transaction, the director now owns 3,580,857 shares in the company, valued at approximately $164,540,379.15. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, Director Walter S. Woltosz sold 20,000 shares of the business’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $45.95, for a total transaction of $919,000.00. Following the sale, the director now owns 3,580,857 shares in the company, valued at approximately $164,540,379.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Daniel L. Weiner sold 750 shares of the business’s stock in a transaction on Friday, June 28th. The stock was sold at an average price of $49.32, for a total value of $36,990.00. Following the sale, the director now owns 7,009 shares in the company, valued at approximately $345,683.88. The disclosure for this sale can be found here. In the last quarter, insiders have sold 44,500 shares of company stock worth $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.