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

Altair Engineering

03/05/2024 09:59

* Altair Engineering Inc  ALTR.OQ  reported quarterly
adjusted
earnings of 40 cents​​ per share for the quarter ended in March,
higher than the same quarter last year, when the company
reported EPS of 36 cents.  The mean expectation of nine analysts
for the quarter was for earnings of 34 cents per share. Wall
Street expected results to range from 33 cents to 38 cents per
share.
    * Revenue rose 4.1% to $172.91 million from a year ago;
analysts
expected $169.28 million. 
    * Altair Engineering Inc's reported EPS for the quarter was
20
cents​.
    * The company reported quarterly net income of $16.55
million.
    * Altair Engineering Inc shares had fallen by 5.1% this
quarter and lost 2.9% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 15.3%
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 6 "strong buy" or "buy," 4
"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 May 3 at 08:59
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
 Mar. 31 2024      0.34           0.40           Beat
 Dec. 31 2023      0.41           0.46           Beat
 Sep. 30 2023      0.04           0.14           Beat
 Jun. 30 2023      0.14           0.15           Beat