Alta Equipment Group (ALTG) Set to Announce Earnings Soon

Alta Equipment Group (NYSE:ALTG) is expected to release its earnings results after the market closes on Tuesday, November 12th, according to Zacks. Analysts are predicting that the company will report earnings of ($0.22) per share for the quarter.

Previously, Alta Equipment Group shared its quarterly earnings results on Wednesday, August 7th. During that quarter, the company reported a loss of ($0.38) earnings per share (EPS), falling short of the consensus estimate of ($0.04) by ($0.34). Additionally, Alta experienced a negative return on equity of 13.09% and a net margin of -0.95%. The company generated revenue of $488.10 million, which was below the consensus estimate of $497.57 million. This time last year, Alta Equipment Group had earned $0.16 EPS.

Current Stock Performance

As of Friday, the stock opened at $8.09. The company's stock has seen a 50-day simple moving average of $6.40, while the 200-day moving average is $8.01. Alta Equipment Group currently has a debt-to-equity ratio of 5.81, a current ratio of 1.37, and a quick ratio of 0.47. Over the past year, the stock has reached a low of $5.40 and a high of $13.67, with a market cap of $267.70 million and a price-to-earnings ratio of -12.50.

Dividend Announcement

In recent news, Alta Equipment Group declared a quarterly dividend, which will be disbursed on Friday, November 29th. Shareholders who are on record by Friday, November 15th, will receive a dividend payment of $0.057 per share. This translates to an annualized dividend of $0.23, offering a yield of 2.82%. Notably, the company's payout ratio stands at -35.94%.

Analyst Ratings

The stock has recently been the subject of various reviews from research analysts. DA Davidson lowered their price target for Alta Equipment Group from $20.00 to $12.00 while maintaining a “buy” recommendation in their report published on August 13th. Meanwhile, Raymond James retained a “market perform” rating with a price target of $10.00, which was revised down from an earlier $14.00.

Insider Transactions

In insider news, a major stakeholder, Voss Capital, Lp sold 11,311 shares of the company's stock on October 2nd, trading at an average price of $6.31 for a total of $71,372.41. Post-sale, the insider still owns approximately 963,689 shares valued at around $6,080,877.59, reflecting no change in their ownership percentage. Additionally, director Andrew P. Studdert purchased 10,000 shares on August 12th at an average price of $5.65, totaling $56,500.00. This acquisition increased his holdings in the company to 86,591 shares, worth about $489,239.15. Insiders currently hold 19.90% of Alta Equipment Group's stock.

Company Overview

Alta Equipment Group Inc operates an integrated dealership network across the U.S. It conducts business through three segments: Material Handling, Construction Equipment, and Master Distribution. Their branches provide sales, rental services, parts, and maintenance support for various specialized equipment, which includes lift trucks and heavy earthmoving machinery.

Earnings, Stocks, Market