Alta Equipment Group ALTG will release its quarterly earnings report on Tuesday, 2024-11-12. Here's a brief overview for investors ahead of the announcement.
Analysts anticipate Alta Equipment Group to report an earnings per share (EPS) of $-0.22.
Alta Equipment Group bulls will hope to hear the company announce they've not only beaten that estimate, but also to provide positive guidance, or forecasted growth, for the next quarter.
New investors should note that it is sometimes not an earnings beat or miss that most affects the price of a stock, but the guidance (or forecast).
Overview of Past Earnings
The company's EPS beat by $0.08 in the last quarter, leading to a 21.73% drop in the share price on the following day.
Here's a look at Alta Equipment Group's past performance and the resulting price change:
| Quarter | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 |
|---|---|---|---|---|
| EPS Estimate | -0.07 | -0.20 | -0.05 | 0.05 |
| EPS Actual | 0.01 | -0.22 | 0.03 | 0.36 |
| Price Change % | -22.0% | -15.0% | 5.0% | 17.0% |
Market Performance of Alta Equipment Group's Stock
Shares of Alta Equipment Group were trading at $7.91 as of November 08. Over the last 52-week period, shares are down 29.17%. Given that these returns are generally negative, long-term shareholders are likely bearish going into this earnings release.
Analyst Opinions on Alta Equipment Group
Understanding market sentiments and expectations within the industry is crucial for investors. This analysis delves into the latest insights on Alta Equipment Group.
With 1 analyst ratings, Alta Equipment Group has a consensus rating of Buy. The average one-year price target is $12.0, indicating a potential 51.71% upside.
Peer Ratings Comparison
The following analysis focuses on the analyst ratings and average 1-year price targets of Hudson Technologies, Titan Machinery and Lavoro, three prominent industry players, providing insights into their relative performance expectations and market positioning.
- As per analysts' assessments, Hudson Technologies is favoring an Neutral trajectory, with an average 1-year price target of $7.55, suggesting a potential 4.55% downside.
- For Titan Machinery, analysts project an Neutral trajectory, with an average 1-year price target of $17.71, indicating a potential 123.89% upside.
- Lavoro received a Outperform consensus from analysts, with an average 1-year price target of $7.0, implying a potential 11.5% downside.
Peers Comparative Analysis Summary
Within the peer analysis summary, vital metrics for Hudson Technologies, Titan Machinery and Lavoro are presented, shedding light on their respective standings within the industry and offering valuable insights into their market positions and comparative performance.
| Company | Consensus | Revenue Growth | Gross Profit | Return on Equity |
|---|---|---|---|---|
| Alta Equipment Group | Buy | 4.21% | $132M | -9.61% |
| Hudson Technologies | Neutral | -17.72% | $22.57M | 3.11% |
| Titan Machinery | Neutral | -1.38% | $112.38M | -0.65% |
| Lavoro | Outperform | 7.57% | $235.70M | -29.51% |
Key Takeaway:
Alta Equipment Group ranks highest in Revenue Growth among its peers. It has the highest Gross Profit margin. However, it has the lowest Return on Equity.
Unveiling the Story Behind Alta Equipment Group
Alta Equipment Group Inc is an integrated equipment dealership platform in the U.S. Its segments are Material Handling and Construction Equipment. The Material Handling segment is engaged in operations related to the sale, service, and rental of lift trucks in Michigan, Illinois, Indiana, New York, Virginia, and throughout the New England states whereas, the Construction Equipment segment is principally engaged in operations related to the sale, service, and rental of construction equipment in Michigan, Indiana, Illinois, Ohio, New York, Florida and throughout the New England States.
Alta Equipment Group: Financial Performance Dissected
Market Capitalization Analysis: Below industry benchmarks, the company's market capitalization reflects a smaller scale relative to peers. This could be attributed to factors such as growth expectations or operational capacity.
Positive Revenue Trend: Examining Alta Equipment Group's financials over 3 months reveals a positive narrative. The company achieved a noteworthy revenue growth rate of 4.21% as of 30 June, 2024, showcasing a substantial increase in top-line earnings. As compared to competitors, the company surpassed expectations with a growth rate higher than the average among peers in the Industrials sector.
Net Margin: Alta Equipment Group's net margin is below industry averages, indicating potential challenges in maintaining strong profitability. With a net margin of -2.58%, the company may face hurdles in effective cost management.
Return on Equity (ROE): The company's ROE is below industry benchmarks, signaling potential difficulties in efficiently using equity capital. With an ROE of -9.61%, the company may need to address challenges in generating satisfactory returns for shareholders.
Return on Assets (ROA): Alta Equipment Group's ROA is below industry standards, pointing towards difficulties in efficiently utilizing assets. With an ROA of -0.8%, the company may encounter challenges in delivering satisfactory returns from its assets.
Debt Management: Alta Equipment Group's debt-to-equity ratio is notably higher than the industry average. With a ratio of 9.99, the company relies more heavily on borrowed funds, indicating a higher level of financial risk.
To track all earnings releases for Alta Equipment Group visit their earnings calendar on our site.
This article was generated by Benzinga's automated content engine and reviewed by an editor.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
