Simulations Plus (NASDAQ:SLP) Issues FY 2024 Earnings Guidance

Simulations Plus (NASDAQ:SLP) issued an update on its FY 2024 earnings guidance on Friday morning. The company provided earnings per share (EPS) guidance of $0.66-$0.68 for the period, compared to the consensus estimate of $0.67. The company issued revenue guidance of $66.00 million-$69.00 million, compared to the consensus revenue estimate of $67.02 million. Simulations Plus also updated its FY24 guidance to $0.66-0.68 EPS.

Simulations Plus Stock Up 0.3 %

NASDAQ:SLP opened at $39.08 on Friday. The company has a market cap of $779.26 million, a P/E ratio of 79.76 and a beta of 0.61. Simulations Plus has a fifty-two week low of $32.58 and a fifty-two week high of $52.69. The firm’s 50 day moving average is $39.24 and its two-hundred day moving average is $43.33.

Simulations Plus (NASDAQ:SLP) last posted its quarterly earnings results on Wednesday, October 25th. The technology company reported $0.18 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.18. The company had revenue of $15.60 million for the quarter, compared to the consensus estimate of $16.94 million. Simulations Plus had a net margin of 16.67% and a return on equity of 7.68%. Simulations Plus’s revenue was up 33.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.07 earnings per share. Research analysts forecast that Simulations Plus will post 0.66 earnings per share for the current fiscal year.

Simulations Plus Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, November 6th. Shareholders of record on Monday, October 30th were paid a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.61%. The ex-dividend date was Friday, October 27th. Simulations Plus’s dividend payout ratio is currently 48.98%.

Analysts Set New Price Targets

Separately, StockNews.com initiated coverage on shares of Simulations Plus in a research note on Thursday, October 5th. They set a hold rating on the stock.

Insider Activity

In other news, Director John Kenneth Paglia sold 1,000 shares of the firm’s stock in a transaction on Wednesday, November 8th. The shares were sold at an average price of $35.25, for a total value of $35,250.00. Following the transaction, the director now owns 3,097 shares of the company’s stock, valued at approximately $109,169.25. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 21.30% of the company’s stock.

Hedge Funds Weigh In On Simulations Plus

A number of hedge funds have recently made changes to their positions in SLP. Barclays PLC increased its stake in Simulations Plus by 2,626.1% during the 2nd quarter. Barclays PLC now owns 627 shares of the technology company’s stock worth $27,000 after buying an additional 604 shares during the period. Point72 Middle East FZE acquired a new position in Simulations Plus during the 4th quarter worth $35,000. Tower Research Capital LLC TRC grew its holdings in Simulations Plus by 82.2% during the 3rd quarter. Tower Research Capital LLC TRC now owns 1,421 shares of the technology company’s stock worth $69,000 after acquiring an additional 641 shares in the last quarter. Lazard Asset Management LLC acquired a new position in Simulations Plus during the 4th quarter worth $61,000. Finally, State of Wyoming boosted its holdings in shares of Simulations Plus by 160.4% in the 2nd quarter. State of Wyoming now owns 1,984 shares of the technology company’s stock valued at $86,000 after buying an additional 1,222 shares during the period. Hedge funds and other institutional investors own 74.41% of the company’s stock.

Simulations Plus Company Profile

Simulations Plus, Inc develops drug discovery and development software for modeling and simulation, and prediction of molecular properties utilizing artificial intelligence and machine learning based technology worldwide. The company operates through two segments, Software and Services. It offers GastroPlus, which simulates the absorption and drug interaction of compounds administered to humans and animals; and DDDPlus and MembranePlus simulation products.