Alight (NYSE:ALIT) Announces Earnings Results

by · The Cerbat Gem

Alight (NYSE:ALIT – Get Free Report) released its earnings results on Tuesday. The company reported $0.66 EPS for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $473.74 million.

Alight Stock Performance

Shares of ALIT traded up $0.28 during trading hours on Tuesday, reaching $10.16. 681,480 shares of the company’s stock traded hands, compared to its average volume of 1,069,804. Alight has a twelve month low of $7.93 and a twelve month high of $57.00. The firm has a market capitalization of $273.73 million, a price-to-earnings ratio of -0.13, a P/E/G ratio of 0.16 and a beta of 1.69. The business’s fifty day simple moving average is $11.05 and its two-hundred day simple moving average is $16.01. The company has a debt-to-equity ratio of 1.93, a current ratio of 1.42 and a quick ratio of 1.42.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on ALIT. Citigroup restated a “neutral” rating and issued a $16.00 price target (down from $20.00) on shares of Alight in a research report on Thursday, August 20th. DA Davidson cut their target price on shares of Alight from $32.00 to $22.00 and set a “buy” rating on the stock in a report on Thursday, September 24th. Needham & Company LLC reaffirmed a “hold” rating on shares of Alight in a report on Thursday, August 20th. Finally, Weiss Ratings restated 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 assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $49.33.

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About Alight

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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.

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