Alight (NYSE:ALIT) Releases Quarterly Earnings Results

Alight (NYSE:ALIT) released its quarterly 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. The firm had revenue of $500.00 million for the quarter, compared to the consensus estimate of $473.74 million. Alight had a positive return on equity of 16.05% and a negative net margin of 90.90%.

Alight Stock Up 2.8%

ALIT traded up $0.28 on Tuesday, hitting $10.16. 681,480 shares of the company were exchanged, compared to its average volume of 1,069,804. Alight has a 12 month low of $7.93 and a 12 month high of $57.00. The company has a market cap of $273.73 million, a PE ratio of -0.13, a PEG ratio of 0.16 and a beta of 1.69. The company has a debt-to-equity ratio of 1.93, a quick ratio of 1.42 and a current ratio of 1.42. The stock’s fifty day moving average is $11.05 and its 200-day moving average is $16.01.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on ALIT. Citigroup reaffirmed a “neutral” rating and set a $16.00 price target (down from $20.00) on shares of Alight in a research report on Thursday, August 20th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Alight in a report on Monday. Needham & Company LLC reissued a “hold” rating on shares of Alight in a research report on Thursday, August 20th. Finally, DA Davidson reduced their target price on shares of Alight from $32.00 to $22.00 and set a “buy” rating for the company in a report on Thursday, September 24th. Three equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, Alight has a consensus 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.