Alight (NYSE:ALIT) Posts Quarterly Earnings Results, Hits Expectations

Alight (NYSE:ALIT) announced its quarterly earnings data on Tuesday. The company reported $0.09 EPS for the quarter, meeting analysts’ consensus estimates of $0.09, Briefing.com reports. The business had revenue of $555.00 million during the quarter, compared to the consensus estimate of $538.39 million. Alight had a positive return on equity of 5.61% and a negative net margin of 7.95%. The business’s revenue for the quarter was down .4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.07 earnings per share. 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

NYSE:ALIT opened at $7.89 on Friday. The company’s 50 day moving average is $7.26 and its 200-day moving average is $7.42. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.30 and a quick ratio of 1.37. Alight has a 12 month low of $6.15 and a 12 month high of $10.38.

Alight Announces Dividend

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

Wall Street Analyst Weigh In

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

Insiders Place Their Bets

In other Alight news, Director William P. Foley II sold 5,000,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 13th. The stock was 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 represents a 84.99 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company 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.