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

Altair Engineering

02/11/2023 21:54

* Altair Engineering Inc  ALTR.OQ  reported quarterly
adjusted
earnings of 14 cents​​ per share for the quarter ended in
September, higher than the same quarter last year, when the
company reported EPS of 5 cents.  The mean expectation of
nine analysts for the quarter was for earnings of 4 cents per
share. Wall Street expected results to range from 1 cents to 5
cents per share.
    * Revenue rose 12.3% to $134.00 million from a year ago;
analysts
expected $127.35 million. 
    * Altair Engineering Inc's reported EPS for the quarter was
a loss
of 5 cents​.
    * The company reported a quarterly loss of $4.36 million.
    * Altair Engineering Inc shares had fallen by 0.7% this
quarter and gained 36.6% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 59.8%
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 $76.50 
This summary was machine generated from LSEG data November 2 at
09:53 p.m. UTC. ​All figures in US dollars unless otherwise
stated. QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Sep. 30 2023      0.04           0.14           Beat
 Jun. 30 2023      0.14           0.15           Beat
 Mar. 31 2023      0.29           0.36           Beat
 Dec. 31 2022      0.19           0.31           Beat