Altair Engineering Inc (ALTR) Forecasted to Post Q1 2018 Earnings of $0.03 Per Share

Altair Engineering Inc (NASDAQ:ALTR) – Analysts at William Blair reduced their Q1 2018 EPS estimates for shares of Altair Engineering in a research note issued to investors on Thursday. William Blair analyst B. Suri now expects that the semiconductor manufacturer will earn $0.03 per share for the quarter, down from their previous forecast of $0.06. William Blair has a “Outperform” rating on the stock. William Blair also issued estimates for Altair Engineering’s Q2 2018 earnings at $0.05 EPS, Q3 2018 earnings at $0.06 EPS, Q4 2018 earnings at $0.12 EPS, FY2018 earnings at $0.26 EPS and FY2019 earnings at $0.47 EPS.

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Altair Engineering (NASDAQ:ALTR) last released its quarterly earnings data on Wednesday, March 21st. The semiconductor manufacturer reported $0.18 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.12. The firm had revenue of $89.90 million for the quarter, compared to analyst estimates of $87.56 million. The business’s revenue was up 8.6% on a year-over-year basis.

Several other research analysts have also weighed in on ALTR. JPMorgan Chase & Co. initiated coverage on shares of Altair Engineering in a research note on Monday, November 27th. They set a “neutral” rating and a $25.00 price objective on the stock. Deutsche Bank initiated coverage on shares of Altair Engineering in a research note on Monday, November 27th. They set a “buy” rating and a $28.00 price objective on the stock. Canaccord Genuity assumed coverage on shares of Altair Engineering in a research note on Monday, November 27th. They set a “hold” rating and a $25.00 price objective on the stock. Royal Bank of Canada assumed coverage on shares of Altair Engineering in a research note on Monday, November 27th. They issued a “sector perform” rating and a $26.00 price target on the stock. Finally, Berenberg Bank assumed coverage on shares of Altair Engineering in a research note on Tuesday, January 30th. They issued a “buy” rating and a $33.00 price target on the stock. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $31.83.

Altair Engineering (NASDAQ ALTR) opened at $30.31 on Friday. Altair Engineering has a 52 week low of $16.55 and a 52 week high of $33.38.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Two Sigma Advisers LP acquired a new position in Altair Engineering in the 4th quarter valued at about $287,000. Goldman Sachs Group Inc. acquired a new position in Altair Engineering in the 4th quarter valued at about $439,000. Royce & Associates LP acquired a new position in Altair Engineering in the 4th quarter valued at about $485,000. Deutsche Bank AG acquired a new position in Altair Engineering in the 4th quarter valued at about $542,000. Finally, Arrowstreet Capital Limited Partnership acquired a new position in Altair Engineering in the 4th quarter valued at about $622,000. Institutional investors and hedge funds own 20.51% of the company’s stock.

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Altair Engineering Company Profile

Altair Engineering Inc is a United States-based software company. The Company is focused on developing engineering software and computing technologies. The Company’s products include HyperWorks, solidThinking, PBS Works, and Carriots. The Company offers a range of solutions such as product engineering, industrial design, and tailored solutions.

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