Simulations Plus (NASDAQ:SLP) Posts Earnings Results, Beats Estimates By $0.04 EPS

Simulations Plus (NASDAQ:SLP) released its quarterly earnings results on Tuesday. The technology company reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.04, Briefing.com reports. The business had revenue of $18.54 million during the quarter, compared to the consensus estimate of $17.92 million. Simulations Plus had a return on equity of 7.80% and a net margin of 14.36%. The firm’s quarterly revenue was up 14.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.20 EPS. Simulations Plus updated its FY24 guidance to $0.54-0.56 EPS and its FY 2024 guidance to 0.540-0.560 EPS.

Simulations Plus Trading Down 14.9 %

NASDAQ SLP opened at $39.89 on Thursday. The firm’s 50 day simple moving average is $47.68 and its 200 day simple moving average is $44.15. The firm has a market capitalization of $797.40 million, a price-to-earnings ratio of 75.26 and a beta of 0.72. Simulations Plus has a 1 year low of $32.69 and a 1 year high of $52.69.

Simulations Plus Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, August 5th. Stockholders of record on Monday, July 29th will be given a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.60%. The ex-dividend date of this dividend is Monday, July 29th. Simulations Plus’s payout ratio is presently 45.28%.

Insider Buying and Selling at Simulations Plus

In other news, Director Daniel L. Weiner sold 3,250 shares of the business’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $48.31, for a total transaction of $157,007.50. Following the completion of the transaction, the director now owns 8,759 shares of the company’s stock, valued at approximately $423,147.29. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Simulations Plus news, Director Daniel L. Weiner sold 3,250 shares of the firm’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $48.31, for a total value of $157,007.50. Following the sale, the director now owns 8,759 shares in the company, valued at $423,147.29. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Walter S. Woltosz sold 20,000 shares of the company’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $45.95, for a total transaction of $919,000.00. Following the transaction, the director now owns 3,580,857 shares of the company’s stock, valued at $164,540,379.15. The disclosure for this sale can be found here. Insiders sold a total of 44,500 shares of company stock worth $2,072,198 over the last three months. Corporate insiders own 20.90% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. William Blair initiated coverage on shares of Simulations Plus in a research note on Friday, June 28th. They issued an “outperform” rating on the stock. Oppenheimer lifted their price target on shares of Simulations Plus from $55.00 to $65.00 and gave the company an “outperform” rating in a research report on Thursday, June 13th. Finally, Craig Hallum restated a “buy” rating and set a $56.00 price objective on shares of Simulations Plus in a research note on Wednesday.

About Simulations Plus

Simulations Plus, Inc develops drug discovery and development software for modeling and simulation, and prediction of molecular properties utilizing artificial intelligence and machine learning based technology worldwide. The company operates through two segments, Software and Services. It offers GastroPlus, which simulates the absorption and drug interaction of compounds administered to humans and animals; and DDDPlus and MembranePlus simulation products.