Altair Engineering (ALTR) Set to Announce Earnings on Thursday

Altair Engineering (NASDAQ:ALTR) is scheduled to be releasing its earnings data after the market closes on Thursday, November 8th. Analysts expect Altair Engineering to post earnings of $0.06 per share for the quarter.

Altair Engineering (NASDAQ:ALTR) last issued its quarterly earnings results on Thursday, August 9th. The semiconductor manufacturer reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.01. The company had revenue of $95.60 million for the quarter, compared to analyst estimates of $91.08 million. Altair Engineering had a negative net margin of 23.35% and a negative return on equity of 21.85%. The business’s revenue for the quarter was up 17.2% on a year-over-year basis. On average, analysts expect Altair Engineering to post $0 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Shares of NASDAQ:ALTR opened at $38.14 on Thursday. The firm has a market cap of $2.57 billion and a PE ratio of -60.83. Altair Engineering has a 52 week low of $16.55 and a 52 week high of $43.99.

A number of brokerages have recently commented on ALTR. William Blair reiterated an “outperform” rating on shares of Altair Engineering in a report on Thursday, August 23rd. Zacks Investment Research upgraded shares of Altair Engineering from a “hold” rating to a “buy” rating and set a $46.00 price target on the stock in a report on Tuesday, October 9th. ValuEngine upgraded shares of Altair Engineering from a “hold” rating to a “buy” rating in a report on Monday, August 13th. Royal Bank of Canada lifted their price target on shares of Altair Engineering from $38.00 to $40.00 and gave the stock a “sector perform” rating in a report on Friday, August 10th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Altair Engineering from $34.00 to $40.00 and gave the company a “neutral” rating in a report on Friday, August 10th. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $39.00.

A hedge fund recently raised its stake in Altair Engineering stock. Bank of New York Mellon Corp boosted its position in Altair Engineering Inc (NASDAQ:ALTR) by 462.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 102,434 shares of the semiconductor manufacturer’s stock after buying an additional 84,213 shares during the period. Bank of New York Mellon Corp owned approximately 0.15% of Altair Engineering worth $3,501,000 at the end of the most recent quarter. 35.38% of the stock is owned by institutional investors.

About Altair Engineering

Altair Engineering Inc, together with its subsidiaries, provides enterprise-class engineering software worldwide. The company operates through two segments, Software and Client Engineering Services. Its integrated suite of multi-disciplinary computer aided engineering software optimizes design performance across various disciplines, including structures, motion, fluids, thermal management, electromagnetics, system modeling and embedded systems, as well as provides data analytics and true-to-life visualization and rendering.

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Earnings History for Altair Engineering (NASDAQ:ALTR)

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