Alight (NYSE:ALIT) Posts Quarterly Earnings Results, Beats Expectations By $0.54 EPS

Alight (NYSE:ALIT) announced its earnings results on Tuesday. The company reported $0.66 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.54, FiscalAI reports. The company had revenue of $500.00 million during the quarter, compared to analyst estimates of $473.74 million. Alight had a negative net margin of 46.04% and a positive return on equity of 15.32%.

Alight Trading Down 5.8%

Shares of Alight stock traded down $0.73 during mid-day trading on Thursday, hitting $12.02. 390,776 shares of the stock were exchanged, compared to its average volume of 1,086,600. The stock has a market capitalization of $323.71 million, a price-to-earnings ratio of -0.31, a price-to-earnings-growth ratio of 0.18 and a beta of 1.73. The company has a 50-day simple moving average of $10.91 and a 200 day simple moving average of $15.81. Alight has a twelve month low of $7.93 and a twelve month high of $51.40. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 1.93.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on ALIT shares. Citigroup reiterated a “neutral” rating and issued a $16.00 price objective (down from $20.00) on shares of Alight in a research note on Thursday, August 20th. Needham & Company LLC reissued a “hold” rating on shares of Alight in a report on Wednesday. DA Davidson cut their target price on shares of Alight from $32.00 to $22.00 and set a “buy” rating for the company in a research report 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 stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $49.33.

Alight Company Profile

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.