Alignment Healthcare (ALHC) to Release Earnings on Tuesday

Alignment Healthcare (NASDAQ:ALHC) is scheduled to be releasing its earnings data 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.Investors interested in participating in the company’s conference call can do so using this link.

Alignment Healthcare (NASDAQ:ALHC) last issued its quarterly earnings data on Thursday, August 1st. The company reported ($0.13) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.01. The company had revenue of $681.29 million for 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% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($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 Down 4.0 %

Alignment Healthcare stock opened at $10.45 on Tuesday. The stock has a market cap of $2.00 billion, a PE ratio of -12.44 and a beta of 1.47. The company has a debt-to-equity ratio of 1.70, a quick ratio of 1.61 and a current ratio of 1.61. The stock has a fifty day moving average of $10.32 and a 200 day moving average of $8.42. Alignment Healthcare has a one year low of $4.46 and a one year high of $12.36.

Insider Activity at Alignment Healthcare

In other Alignment Healthcare news, CFO Robert Thomas Freeman sold 8,561 shares of the firm’s stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $10.01, for a total value of $85,695.61. Following the completion of the sale, the chief financial officer now owns 399,429 shares of the company’s stock, valued at $3,998,284.29. 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 at this hyperlink. In other Alignment Healthcare news, CFO Robert Thomas Freeman sold 8,561 shares of the firm’s stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $10.01, for a total transaction of $85,695.61. Following the transaction, the chief financial officer now directly owns 399,429 shares in the company, valued at $3,998,284.29. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO John E. Kao sold 90,000 shares of the stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $11.33, for a total value of $1,019,700.00. Following the transaction, the chief executive officer now directly owns 2,543,100 shares in the company, valued at $28,813,323. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 314,940 shares of company stock worth $3,487,014. Company insiders own 6.60% of the company’s stock.

Analysts Set New Price Targets

ALHC has been the topic of several analyst reports. Piper Sandler reiterated an “overweight” rating and set a $10.00 price target (up previously from $8.00) on shares of Alignment Healthcare in a research note on Tuesday, August 6th. Robert W. Baird lifted their target price on shares of Alignment Healthcare from $10.00 to $11.00 and gave the company an “outperform” rating in a research note on Wednesday, August 14th. Barclays upped their target price on shares of Alignment Healthcare from $4.50 to $7.00 and gave the stock an “underweight” rating in a research report on Monday, August 5th. Stifel Nicolaus raised their price objective on Alignment Healthcare from $9.00 to $12.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Finally, KeyCorp initiated coverage on Alignment Healthcare in a research note on Friday, October 11th. They set a “sector weight” rating for the company. One analyst has rated the stock with a sell rating, three have given 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.com, the company has a consensus rating of “Moderate Buy” and an average target price 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.