CBIZ (NYSE:CBZ) Updates FY24 Earnings Guidance

CBIZ (NYSE:CBZ) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $2.70 to $2.75 for the period, compared to the consensus estimate of $2.72. The company issued revenue guidance of +7 to +9% yr/yr or $1.703 billion to $1.734 billion, compared to the consensus revenue estimate of $1.72 billion. CBIZ also updated its FY 2024 guidance to 2.700-2.750 EPS.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on CBZ shares. StockNews.com lowered CBIZ from a hold rating to a sell rating in a research report on Friday. Sidoti cut CBIZ from a buy rating to a neutral rating and set a $63.00 price target on the stock. in a report on Tuesday, January 2nd.

CBIZ Trading Down 3.7 %

Shares of NYSE CBZ traded down $2.77 during trading hours on Friday, hitting $72.76. 321,086 shares of the company traded hands, compared to its average volume of 269,704. The company’s 50 day moving average price is $75.74 and its 200 day moving average price is $65.22. CBIZ has a 12 month low of $49.13 and a 12 month high of $79.55. The stock has a market capitalization of $3.65 billion, a price-to-earnings ratio of 29.46 and a beta of 0.83. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 0.39.

CBIZ (NYSE:CBZ) last issued its quarterly earnings results on Thursday, April 25th. The business services provider reported $1.54 earnings per share for the quarter, missing the consensus estimate of $1.57 by ($0.03). CBIZ had a return on equity of 15.79% and a net margin of 7.65%. The business had revenue of $494.30 million during the quarter, compared to analysts’ expectations of $490.88 million. During the same quarter in the previous year, the company posted $1.46 earnings per share. The company’s quarterly revenue was up 8.7% compared to the same quarter last year. On average, equities research analysts anticipate that CBIZ will post 2.74 earnings per share for the current fiscal year.

CBIZ Company Profile

CBIZ, Inc provides financial, insurance, and advisory services in the United States and Canada. It operates through Financial Services, Benefits and Insurance Services, and National Practices segments. The Financial Services segment offers accounting and tax, financial advisory, valuation, risk and advisory, and government healthcare consulting services.