Altair Engineering Inc reports results for the quarter ended in December - Earnings Summary

Altair Engineering

23/02/2024 03:02

* Altair Engineering Inc  ALTR.OQ  reported quarterly
adjusted
earnings of 46 cents​​ per share for the quarter ended in
December, higher than the same quarter last year, when the
company reported EPS of 31 cents.  The mean expectation of
ten analysts for the quarter was for earnings of 41 cents per
share. Wall Street expected results to range from 39 cents to 46
cents per share.
    * Revenue rose 6.9% to $171.50 million from a year ago;
analysts
expected $172.72 million. 
    * Altair Engineering Inc's reported EPS for the quarter was
22
cents​.
    * The company reported quarterly net income of $19.68
million.
    * Altair Engineering Inc shares had risen by 3.3% this
quarter.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 0.2%
in the last three months.​ 
    * In the last 30 days, there have been no earnings estimate
revisions by analysts covering the company.

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 7 "strong buy" or "buy," 3
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the it services &
consulting peer group is also "buy"

Wall Street's median 12-month price target for Altair
Engineering Inc is $88.00 
This summary was machine generated from LSEG data February 23 at
03:01 a.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Dec. 31 2023      0.41           0.46           Beat
 Sep. 30 2023      0.04           0.14           Beat
 Jun. 30 2023      0.14           0.15           Beat
 Mar. 31 2023      0.29           0.36           Beat