Alta Equipment Group (ALTG) Scheduled to Post Earnings on Tuesday

Alta Equipment Group (NYSE:ALTG) is scheduled to be releasing its earnings data after the market closes on Tuesday, November 12th. Analysts expect Alta Equipment Group to post earnings of ($0.22) per share for the quarter.

Alta Equipment Group (NYSE:ALTG) last posted its quarterly earnings results on Wednesday, August 7th. The company reported ($0.38) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.34). Alta Equipment Group had a negative return on equity of 13.09% and a negative net margin of 0.95%. The company had revenue of $488.10 million for the quarter, compared to the consensus estimate of $497.57 million. During the same quarter in the previous year, the business earned $0.16 earnings per share. On average, analysts expect Alta Equipment Group to post $-1 EPS for the current fiscal year and $-1 EPS for the next fiscal year.

Alta Equipment Group Price Performance

ALTG opened at $8.09 on Friday. The stock’s 50 day simple moving average is $6.40 and its 200 day simple moving average is $8.01. The company has a debt-to-equity ratio of 5.81, a current ratio of 1.37 and a quick ratio of 0.47. Alta Equipment Group has a 1 year low of $5.40 and a 1 year high of $13.67. The firm has a market cap of $267.70 million, a price-to-earnings ratio of -12.50 and a beta of 1.67.

Alta Equipment Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be given a dividend of $0.057 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $0.23 annualized dividend and a yield of 2.82%. Alta Equipment Group’s payout ratio is -35.94%.

Wall Street Analyst Weigh In

ALTG has been the subject of several research analyst reports. DA Davidson dropped their price objective on Alta Equipment Group from $20.00 to $12.00 and set a “buy” rating for the company in a report on Tuesday, August 13th. Raymond James reiterated a “market perform” rating and set a $10.00 price objective (down previously from $14.00) on shares of Alta Equipment Group in a research note on Friday, August 9th.

Insiders Place Their Bets

In other Alta Equipment Group news, major shareholder Voss Capital, Lp sold 11,311 shares of the business’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $6.31, for a total transaction of $71,372.41. Following the completion of the sale, the insider now owns 963,689 shares of the company’s stock, valued at approximately $6,080,877.59. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, major shareholder Voss Capital, Lp sold 11,311 shares of the business’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $6.31, for a total value of $71,372.41. Following the transaction, the insider now directly owns 963,689 shares in the company, valued at $6,080,877.59. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Andrew P. Studdert acquired 10,000 shares of the stock in a transaction dated Monday, August 12th. The stock was acquired at an average price of $5.65 per share, for a total transaction of $56,500.00. Following the completion of the transaction, the director now directly owns 86,591 shares of the company’s stock, valued at approximately $489,239.15. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 19.90% of the company’s stock.

About Alta Equipment Group

Alta Equipment Group Inc owns and operates integrated equipment dealership platforms in the United States. It operates through three segments: Material Handling, Construction Equipment, and Master Distribution. The company operates a branch network that sells, rents, and provides parts and service support for various categories of specialized equipment, including lift trucks and other material handling equipment, heavy and compact earthmoving equipment, crushing and screening equipment, environmental processing equipment, cranes and aerial work platforms, paving and asphalt equipment, and other construction equipment and related products.