Altair Engineering (ALTR) Posts Earnings Results, Beats Expectations By $0.01 EPS
Altair Engineering (NASDAQ:ALTR) posted its quarterly earnings results on Thursday. The semiconductor manufacturer reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.01, Bloomberg Earnings reports. The company had revenue of $95.60 million during the quarter, compared to analyst estimates of $91.08 million. The business’s quarterly revenue was up 17.2% on a year-over-year basis.
Shares of NASDAQ ALTR opened at $36.54 on Friday. Altair Engineering has a 1 year low of $16.55 and a 1 year high of $37.77. The company has a debt-to-equity ratio of 0.01, a current ratio of 0.77 and a quick ratio of 0.76.
ALTR has been the topic of a number of research analyst reports. Berenberg Bank restated a “buy” rating and issued a $36.00 price target on shares of Altair Engineering in a research note on Thursday, May 17th. Zacks Investment Research upgraded shares of Altair Engineering from a “sell” rating to a “buy” rating and set a $40.00 price target on the stock in a research note on Tuesday, May 22nd. Finally, Royal Bank of Canada raised their price target on shares of Altair Engineering to $38.00 and gave the company a “sector perform” rating in a research note on Monday, June 11th. Five analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $35.75.
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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