Alight (NYSE:ALIT) Releases Q4 2024 Earnings Guidance

Alight (NYSE:ALIT) issued an update on its fourth quarter 2024 earnings guidance on Tuesday morning. The company provided EPS guidance of 0.220-0.270 for the period, compared to the consensus EPS estimate of 0.220. The company issued revenue guidance of $665.0 million-$685.0 million, compared to the consensus revenue estimate of $681.0 million. Alight also updated its Q4 guidance to $0.22-0.27 EPS.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on ALIT shares. JPMorgan Chase & Co. lowered Alight from an “overweight” rating to a “neutral” rating and set a $8.00 price target on the stock. in a report on Tuesday, August 20th. Needham & Company LLC raised their price objective on Alight from $9.00 to $11.00 and gave the company a “buy” rating in a research report on Wednesday. Wedbush decreased 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. KeyCorp upped their target price on Alight from $10.00 to $11.00 and gave the company an “overweight” rating in a research report on Wednesday. Finally, Canaccord Genuity Group raised their target price on Alight from $11.00 to $12.00 and gave the company a “buy” rating in a report on Wednesday. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, Alight currently has an average rating of “Moderate Buy” and a consensus price target of $10.95.

Alight Trading Down 3.5 %

NYSE:ALIT traded down $0.28 on Friday, hitting $7.61. The stock had a trading volume of 2,274,846 shares, compared to its average volume of 5,738,050. Alight has a 52 week low of $6.15 and a 52 week high of $10.38. The business’s fifty day moving average is $7.26 and its 200 day moving average is $7.42. The company has a quick ratio of 1.37, a current ratio of 1.30 and a debt-to-equity ratio of 0.46.

Alight (NYSE:ALIT) last released its quarterly earnings data on Tuesday, November 12th. The company reported $0.09 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.09. Alight had a negative net margin of 7.95% and a positive return on equity of 5.61%. The firm had revenue of $555.00 million for the quarter, compared to analyst estimates of $538.39 million. During the same period last year, the firm earned $0.07 earnings per share. The business’s quarterly revenue was down .4% compared to the same quarter last year. On average, sell-side analysts predict that Alight will post 0.42 EPS for the current fiscal year.

Alight Dividend Announcement

The business also recently declared 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.

Insider Activity

In related news, Director William P. Foley II sold 5,000,000 shares of the business’s stock in a transaction dated 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 sale, the director now directly owns 883,323 shares in the company, valued at approximately $7,287,414.75. The trade was a 84.99 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 5.33% of the stock is currently owned by corporate insiders.

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.