Alignment Healthcare (ALHC) Scheduled to Post Earnings on Tuesday

Alignment Healthcare (NASDAQ:ALHC) is scheduled to post its quarterly earnings results after the market closes on Tuesday, October 29th. Analysts expect Alignment Healthcare to post earnings of ($0.14) per share for the quarter. Alignment Healthcare has set its FY 2024 guidance at EPS and its Q3 2024 guidance at EPS.Individual that wish to register for the company’s earnings conference call can do so using this link.

Alignment Healthcare (NASDAQ:ALHC) last announced its earnings results on Thursday, August 1st. The company reported ($0.13) EPS for the quarter, beating the consensus estimate of ($0.14) by $0.01. The company had revenue of $681.29 million during the quarter, compared to the consensus estimate of $637.66 million. Alignment Healthcare had a negative net margin of 6.85% and a negative return on equity of 101.10%. The firm’s revenue for the quarter was up 47.3% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.15) earnings per share. On average, analysts expect Alignment Healthcare to post $-1 EPS for the current fiscal year and $0 EPS for the next fiscal year.

Alignment Healthcare Stock Performance

Shares of ALHC stock opened at $11.04 on Friday. The firm has a 50-day moving average of $10.49 and a 200-day moving average of $8.56. The company has a market cap of $2.11 billion, a P/E ratio of -13.14 and a beta of 1.47. The company has a debt-to-equity ratio of 1.70, a current ratio of 1.61 and a quick ratio of 1.61. Alignment Healthcare has a one year low of $4.46 and a one year high of $12.36.

Insiders Place Their Bets

In other Alignment Healthcare news, insider Dawn Christine Maroney sold 20,000 shares of the stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $8.70, for a total transaction of $174,000.00. Following the completion of the transaction, the insider now owns 1,796,097 shares in the company, valued at $15,626,043.90. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, insider Dawn Christine Maroney sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $8.70, for a total value of $174,000.00. Following the completion of the transaction, the insider now directly owns 1,796,097 shares in the company, valued at approximately $15,626,043.90. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Hakan Kardes sold 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $11.48, for a total transaction of $287,000.00. Following the completion of the transaction, the insider now owns 380,444 shares of the company’s stock, valued at $4,367,497.12. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 314,940 shares of company stock worth $3,487,014 over the last quarter. 6.60% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Barclays raised their price objective on shares of Alignment Healthcare from $4.50 to $7.00 and gave the stock an “underweight” rating in a report on Monday, August 5th. Piper Sandler restated an “overweight” rating and set a $10.00 price objective (up previously from $8.00) on shares of Alignment Healthcare in a report on Tuesday, August 6th. Robert W. Baird raised their price objective on shares of Alignment Healthcare from $10.00 to $11.00 and gave the stock an “outperform” rating in a report on Wednesday, August 14th. Stifel Nicolaus raised their price objective on shares of Alignment Healthcare from $9.00 to $12.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Finally, TD Cowen raised their price objective on shares of Alignment Healthcare from $8.00 to $10.00 and gave the stock a “buy” rating in a report on Tuesday, August 6th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, six have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $9.83.

About Alignment Healthcare

Alignment Healthcare, Inc, a tech-enabled Medicare advantage company, operates consumer-centric health care platform for seniors in the United States. It provides customized health care designed to meet the needs of a diverse array of seniors through its Medicare advantage plans. The company was founded in 2013 and is based in Orange, California.