Alight (NYSE:ALIT) Issues Quarterly Earnings Results, Beats Estimates By $0.54 EPS

Alight (NYSE:ALIT) announced its earnings results on Tuesday. The company reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.54, FiscalAI reports. Alight had a positive return on equity of 16.05% and a negative net margin of 90.90%. The company had revenue of $500.00 million for the quarter, compared to analyst estimates of $473.74 million.

Alight Trading Up 52.6%

Shares of ALIT traded up $5.32 during midday trading on Wednesday, reaching $15.44. The company had a trading volume of 3,346,298 shares, compared to its average volume of 1,078,342. Alight has a 1-year low of $7.93 and a 1-year high of $57.00. The stock has a market cap of $415.95 million, a PE ratio of -0.20, a price-to-earnings-growth ratio of 0.17 and a beta of 1.73. The firm has a 50 day simple moving average of $10.95 and a 200-day simple moving average of $15.91. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 1.93.

Analyst Ratings Changes

Several analysts have commented on the company. Citigroup reissued a “neutral” rating and issued a $16.00 price objective (down from $20.00) on shares of Alight in a report on Thursday, August 20th. Needham & Company LLC restated a “hold” rating on shares of Alight in a research report on Wednesday. DA Davidson reduced their target price on Alight from $32.00 to $22.00 and set a “buy” rating for the company in a research note on Thursday, September 24th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Alight in a research report on Monday. Three analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, Alight presently has an average rating of “Hold” and a consensus price target of $49.33.

About Alight

Alight, Inc is a cloud-based provider of human capital and business solutions for employers and their employees. The company helps organizations manage employee benefits, payroll, human resources, financial administration and related workforce processes through technology-enabled services.

Its offerings include benefits administration, healthcare and employee wellbeing programs, retirement and financial solutions, payroll services, human resources administration and workforce management tools.