Alight, Inc. (NYSE:ALIT) Receives Average Recommendation of "Buy" from Brokerages

Key Points

• Alight, Inc. (NYSE:ALIT) has received a consensus recommendation of "Buy" from six research firms, with an average price target of $8.75.
• The company recently declared a quarterly dividend of $0.04 per share, producing an annualized yield of 4.4%, with the ex-dividend date set for September 2nd.
• Alight reported $0.10 EPS for the quarter, meeting analysts' expectations, with revenue slightly down by 1.9% compared to the same quarter last year.

Shares of Alight, Inc. (NYSE:ALIT - Get Free Report) have been given an average recommendation of "Buy" by the six analysts that are covering the stock, MarketBeat.com reports. Six analysts have rated the stock with a buy rating. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $8.75.

Several research analysts have recently commented on the company. Wedbush decreased their target price on Alight from $9.00 to $7.00 and set an "outperform" rating for the company in a research report on Wednesday, August 6th. Needham & Company LLC decreased their target price on Alight from $8.00 to $6.00 and set a "buy" rating for the company in a research report on Wednesday, August 6th. Finally, UBS Group decreased their target price on Alight from $10.00 to $6.50 and set a "buy" rating for the company in a research report on Wednesday, August 6th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ALIT. Strs Ohio acquired a new position in Alight during the 1st quarter valued at approximately $25,000. EverSource Wealth Advisors LLC boosted its position in Alight by 152.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 5,201 shares of the company's stock worth $29,000 after acquiring an additional 3,138 shares during the period. CWM LLC boosted its position in Alight by 364.8% during the 1st quarter. CWM LLC now owns 5,104 shares of the company's stock worth $30,000 after acquiring an additional 4,006 shares during the period. Caitong International Asset Management Co. Ltd boosted its position in Alight by 82.8% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 5,184 shares of the company's stock worth $31,000 after acquiring an additional 2,348 shares during the period. Finally, GAMMA Investing LLC boosted its position in Alight by 5,505.8% during the 1st quarter. GAMMA Investing LLC now owns 7,792 shares of the company's stock worth $46,000 after acquiring an additional 7,653 shares during the period. Institutional investors and hedge funds own 96.74% of the company's stock.

Alight Stock Up 1.2%

Shares of ALIT stock traded up $0.04 during trading hours on Friday, reaching $3.43. The company had a trading volume of 8,436,309 shares, compared to its average volume of 7,217,505. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.16 and a current ratio of 1.16. Alight has a twelve month low of $3.37 and a twelve month high of $8.93. The company has a market capitalization of $1.85 billion, a P/E ratio of -1.55 and a beta of 1.01. The stock's fifty day simple moving average is $4.38 and its 200 day simple moving average is $5.16.

Alight (NYSE:ALIT - Get Free Report) last posted its earnings results on Tuesday, August 5th. The company reported $0.10 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.10. Alight had a positive return on equity of 6.26% and a negative net margin of 50.37%.The business had revenue of $528.00 million during the quarter, compared to analyst estimates of $525.26 million. During the same quarter last year, the firm earned $0.05 earnings per share. The company's revenue for the quarter was down 1.9% compared to the same quarter last year. Alight has set its FY 2025 guidance at 0.580-0.640 EPS. As a group, sell-side analysts expect that Alight will post 0.54 earnings per share for the current fiscal year.

Alight Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Tuesday, September 2nd were given a dividend of $0.04 per share. The ex-dividend date was Tuesday, September 2nd. This represents a $0.16 dividend on an annualized basis and a yield of 4.7%. Alight's payout ratio is currently -7.24%.

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.