Alight (NYSE:ALIT) Issues Quarterly Earnings Results

Alight (NYSE:ALIT) posted its quarterly earnings results on Tuesday. The company reported $0.09 EPS for the quarter, hitting the consensus estimate of $0.09, Briefing.com reports. The business had revenue of $555.00 million for the quarter, compared to analyst estimates of $538.39 million. Alight had a positive return on equity of 5.53% and a negative net margin of 7.95%. The company’s quarterly revenue was down .4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.07 EPS. Alight updated its Q4 guidance to $0.22-0.27 EPS and its Q4 2024 guidance to 0.220-0.270 EPS.

Alight Stock Performance

Shares of NYSE:ALIT traded down $0.05 during trading on Wednesday, reaching $8.41. The stock had a trading volume of 6,666,375 shares, compared to its average volume of 5,671,740. The stock has a fifty day simple moving average of $7.23 and a two-hundred day simple moving average of $7.41. Alight has a 52 week low of $6.15 and a 52 week high of $10.38. The firm has a market capitalization of $4.60 billion, a price-to-earnings ratio of -17.71 and a beta of 0.87. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.55.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on ALIT shares. Citigroup decreased their price target on Alight from $12.00 to $11.00 and set a “buy” rating on the stock in a research note on Thursday, August 29th. Needham & Company LLC boosted their target price on shares of Alight from $9.00 to $11.00 and gave the stock a “buy” rating in a research note on Wednesday. Wedbush dropped their target price 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 Alight from $11.00 to $12.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, KeyCorp boosted their target price on Alight from $10.00 to $11.00 and gave the stock an “overweight” rating in a research note on Wednesday. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, Alight has an average rating of “Moderate Buy” and a consensus price target of $10.95.

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.