Alta Equipment Group Inc. (NYSE:ALTG - Get Free Report) declared a quarterly dividend on Tuesday, November 5th, Wall Street Journal reports. Shareholders of record on Friday, November 15th will be paid a dividend of 0.057 per share on Friday, November 29th. This represents a $0.23 dividend on an annualized basis and a yield of 3.50%. The ex-dividend date of this dividend is Friday, November 15th.
Alta Equipment Group has a payout ratio of -67.6% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Alta Equipment Group to earn ($0.60) per share next year, which means the company may not be able to cover its $0.23 annual dividend with an expected future payout ratio of -38.3%.
Alta Equipment Group Trading Down 2.4 %
NYSE:ALTG traded down $0.16 on Tuesday, hitting $6.51. 259,618 shares of the stock were exchanged, compared to its average volume of 352,328. The company has a debt-to-equity ratio of 5.81, a quick ratio of 0.47 and a current ratio of 1.37. Alta Equipment Group has a 52 week low of $5.40 and a 52 week high of $13.67. The company's 50-day moving average price is $6.38 and its 200 day moving average price is $8.09.
Alta Equipment Group (NYSE:ALTG - Get Free Report) last posted its quarterly earnings results on Wednesday, August 7th. The company reported ($0.38) earnings per share for the quarter, missing analysts' consensus estimates of ($0.04) by ($0.34). Alta Equipment Group had a negative return on equity of 13.09% and a negative net margin of 0.95%. The business had revenue of $488.10 million for the quarter, compared to the consensus estimate of $497.57 million. During the same period last year, the firm earned $0.16 earnings per share. On average, equities research analysts forecast that Alta Equipment Group will post -1.08 earnings per share for the current fiscal year.
Insider Activity at Alta Equipment Group
In other news, major shareholder Voss Capital, Lp sold 11,311 shares of the firm'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 sale, the insider now directly owns 963,689 shares of the company's stock, valued at $6,080,877.59. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. In other Alta Equipment Group news, major shareholder Voss Capital, Lp sold 11,311 shares of Alta Equipment Group stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $6.31, for a total value 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. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Andrew P. Studdert acquired 10,000 shares of Alta Equipment Group stock in a transaction on Monday, August 12th. The shares were purchased at an average price of $5.65 per share, for a total transaction of $56,500.00. Following the completion of the purchase, the director now directly owns 86,591 shares of the company's stock, valued at approximately $489,239.15. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 19.90% of the stock is owned by company insiders.
Wall Street Analysts Forecast Growth
ALTG has been the subject of a number of analyst reports. Raymond James reaffirmed a "market perform" rating and set a $10.00 price objective (down from $14.00) on shares of Alta Equipment Group in a research note on Friday, August 9th. DA Davidson lowered their price target on Alta Equipment Group from $20.00 to $12.00 and set a "buy" rating for the company in a research note on Tuesday, August 13th.
Check Out Our Latest Research Report on ALTG
About Alta Equipment Group
(
Get Free Report)
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.
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