Alta Equipment Group (ALTG) Scheduled to Post Earnings on Tuesday

Alta Equipment Group (NYSE:ALTG - Get Free Report) is scheduled to be issuing its quarterly earnings data after the market closes on Tuesday, November 12th. Analysts expect the company to announce earnings of ($0.22) per share for the quarter.

Alta Equipment Group (NYSE:ALTG - Get Free Report) last posted its earnings results on Wednesday, August 7th. The company reported ($0.38) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.34). The company had revenue of $488.10 million during the quarter, compared to analysts' expectations of $497.57 million. Alta Equipment Group had a negative net margin of 0.95% and a negative return on equity of 13.09%. During the same quarter last year, the firm earned $0.16 EPS. On average, analysts expect Alta Equipment Group to post $-1 EPS for the current fiscal year and $-1 EPS for the next fiscal year.

Alta Equipment Group Stock Performance

Shares of ALTG traded down $0.09 during trading hours on Friday, reaching $7.91. 516,357 shares of the company traded hands, compared to its average volume of 357,465. The business has a fifty day moving average price of $6.40 and a 200-day moving average price of $8.01. The company has a quick ratio of 0.47, a current ratio of 1.37 and a debt-to-equity ratio of 5.81. The stock has a market capitalization of $261.74 million, a P/E ratio of -12.50 and a beta of 1.67. Alta Equipment Group has a 12-month low of $5.40 and a 12-month high of $13.67.

Alta Equipment Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be paid a dividend of $0.057 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $0.23 dividend on an annualized basis and a dividend yield of 2.88%. Alta Equipment Group's payout ratio is -35.94%.

Insider Activity

In related news, major shareholder Voss Capital, Lp sold 11,311 shares of the company's stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $6.31, for a total value of $71,372.41. Following the completion of the transaction, the insider now directly owns 963,689 shares of the company's stock, valued at $6,080,877.59. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, major shareholder Voss Capital, Lp sold 11,311 shares of the stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $6.31, for a total transaction of $71,372.41. Following the completion of the sale, the insider now owns 963,689 shares in the company, valued at $6,080,877.59. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Andrew P. Studdert bought 10,000 shares of the company's stock in a transaction dated Monday, August 12th. The stock was bought at an average cost of $5.65 per share, for a total transaction of $56,500.00. Following the acquisition, the director now owns 86,591 shares of the company's stock, valued at approximately $489,239.15. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders own 19.90% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on ALTG. DA Davidson dropped their target price on shares of Alta Equipment Group from $20.00 to $12.00 and set a "buy" rating on the stock in a research report on Tuesday, August 13th. Raymond James reiterated a "market perform" rating and issued a $10.00 price objective (down from $14.00) on shares of Alta Equipment Group in a report on Friday, August 9th.

About Alta Equipment Group

Alta Equipment Group Inc owns and operates integrated equipment dealership platforms in the United States. It operates through three segments: Material Handling, Construction Equipment, and Master Distribution. The company operates a branch network that sells, rents, and provides parts and service support for various categories of specialized equipment, including lift trucks and other material handling equipment, heavy and compact earthmoving equipment, crushing and screening equipment, environmental processing equipment, cranes and aerial work platforms, paving and asphalt equipment, and other construction equipment and related products.