Altair Engineering Inc reports results for the quarter ended in September 30 - Earnings Summary

Altair Engineering

31/10/2024 02:48

* Altair Engineering Inc  ALTR.OQ  reported quarterly
adjusted
earnings of 24 cents​​ per share for the quarter ended September
30, higher than the same quarter last year, when the company
reported EPS of 14 cents.  The mean expectation of ten analysts
for the quarter was for earnings of 16 cents per share. Wall
Street expected results to range from 15 cents to 17 cents per
share.
    * Revenue rose 13% to $151.45 million from a year ago;
analysts
expected $146.65 million. 
    * Altair Engineering Inc's reported EPS for the quarter was
2
cents​.
    * The company reported quarterly net income of $1.78
million.
    * Altair Engineering Inc shares had risen by 15.9% this
quarter and gained 31.5% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 9% 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 4 "strong buy" or "buy," 6
"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 100.00 
This summary was machine generated from LSEG data October 31 at
02:48 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
 Sep. 30 2024      0.16           0.24           Beat
 Jun. 30 2024      0.15           0.16           Beat
 Mar. 31 2024      0.34           0.40           Beat
 Dec. 31 2023      0.41           0.46           Beat