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

Altair Engineering

01/08/2024 23:21

* Altair Engineering Inc  ALTR.OQ  reported quarterly
adjusted
earnings of 16 cents​​ per share for the quarter ended in June,
higher than the same quarter last year, when the company
reported EPS of 15 cents.  The mean expectation of ten analysts
for the quarter was for earnings of 15 cents per share. Wall
Street expected results to range from 14 cents to 17 cents per
share.
    * Revenue rose 5.4% to $148.80 million from a year ago;
analysts
expected $146.76 million. 
    * Altair Engineering Inc's reported EPS for the quarter was
a loss
of 6 cents​.
    * The company reported a quarterly loss of $5.15 million.
    * Altair Engineering Inc shares had fallen by 9.9% this
quarter and gained 5.0% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 28.6%
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 5 "strong buy" or "buy," 5
"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 $95.00 
This summary was machine generated from LSEG data August 1 at
10:20 p.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
 Jun. 30 2024      0.15           0.16           Beat
 Mar. 31 2024      0.34           0.40           Beat
 Dec. 31 2023      0.41           0.46           Beat
 Sep. 30 2023      0.04           0.14           Beat