Altair Engineering (ALTR) Set to Announce Earnings on Thursday

Altair Engineering (NASDAQ:ALTR) will be issuing its quarterly earnings data after the market closes on Thursday, November 8th. Analysts expect the company to announce earnings of $0.06 per share for the quarter. Parties that wish to register for the company’s conference call can do so using this link.

Altair Engineering (NASDAQ:ALTR) last issued its earnings results on Thursday, August 9th. The semiconductor manufacturer reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of $0.04 by $0.01. Altair Engineering had a negative return on equity of 21.85% and a negative net margin of 23.35%. The business had revenue of $95.60 million during the quarter, compared to analyst estimates of $91.08 million. Altair Engineering’s revenue was up 17.2% compared to the same quarter last year. 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 Altair Engineering stock opened at $31.92 on Wednesday. Altair Engineering has a one year low of $18.62 and a one year high of $43.99. The stock has a market capitalization of $2.65 billion and a P/E ratio of -50.67.

ALTR has been the subject of a number of research analyst reports. Needham & Company LLC boosted their target price on Altair Engineering from $36.00 to $40.00 and gave the company a “buy” rating in a research report on Friday, August 10th. Zacks Investment Research lowered Altair Engineering from a “buy” rating to a “hold” rating in a research report on Monday, October 15th. Royal Bank of Canada boosted their target price on Altair Engineering from $38.00 to $40.00 and gave the company a “sector perform” rating in a research report on Friday, August 10th. JPMorgan Chase & Co. boosted their target price on Altair Engineering from $34.00 to $40.00 and gave the company a “neutral” rating in a research report on Friday, August 10th. Finally, Canaccord Genuity boosted their target price on Altair Engineering from $32.00 to $38.00 and gave the company a “hold” rating in a research report on Friday, August 10th. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company has an average 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 grew its stake in shares of Altair Engineering Inc (NASDAQ:ALTR) by 462.2% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 102,434 shares of the semiconductor manufacturer’s stock after purchasing an additional 84,213 shares during the period. Bank of New York Mellon Corp owned about 0.15% of Altair Engineering worth $3,501,000 as of its most recent filing with the SEC. 35.50% of the stock is currently owned by institutional investors and hedge funds.

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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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