Alight (NYSE:ALIT) Releases Q4 Earnings Guidance

Alight (NYSE:ALIT) issued an update on its fourth quarter earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $0.22-0.27 for the period, compared to the consensus estimate of $0.22. The company issued revenue guidance of $665-685 million, compared to the consensus revenue estimate of $679.50 million. Alight also updated its Q4 2024 guidance to 0.220-0.270 EPS.

Alight Trading Down 2.9 %

Shares of NYSE ALIT traded down $0.23 during trading on Friday, reaching $7.66. The stock had a trading volume of 1,911,297 shares, compared to its average volume of 5,736,413. Alight has a fifty-two week low of $6.15 and a fifty-two week high of $10.38. The company has a current ratio of 1.30, a quick ratio of 1.37 and a debt-to-equity ratio of 0.46. The business’s 50-day moving average price is $7.26 and its 200-day moving average price is $7.42.

Alight (NYSE:ALIT) last issued 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 positive return on equity of 5.61% and a negative net margin of 7.95%. The business had revenue of $555.00 million during the quarter, compared to analysts’ expectations of $538.39 million. During the same period in the previous year, the firm posted $0.07 earnings per share. The company’s revenue was down .4% on a year-over-year basis. As a group, analysts forecast that Alight will post 0.42 earnings per share for the current year.

Alight Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on ALIT shares. Citigroup decreased their target price on Alight from $12.00 to $11.00 and set a “buy” rating for the company in a report on Thursday, August 29th. Needham & Company LLC lifted their target price on Alight from $9.00 to $11.00 and gave the company a “buy” rating in a report on Wednesday. JPMorgan Chase & Co. lowered Alight from an “overweight” rating to a “neutral” rating and set a $8.00 target price for the company. in a report on Tuesday, August 20th. Wedbush decreased their target price on Alight from $12.00 to $10.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Finally, Canaccord Genuity Group lifted their target price on Alight from $11.00 to $12.00 and gave the company a “buy” rating in a report on Wednesday. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $10.95.

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 transaction, the director now owns 883,323 shares in the company, valued at $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 available at the SEC website. Company insiders own 5.33% of the company’s stock.

Alight Company Profile

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.