Bright Horizons Family Solutions (NYSE:BFAM) Updates FY 2024 Earnings Guidance

Bright Horizons Family Solutions (NYSE:BFAM) issued an update on its FY 2024 earnings guidance on Friday morning. The company provided earnings per share guidance of 3.000-3.200 for the period, compared to the consensus earnings per share estimate of 3.080. The company issued revenue guidance of $2.6 billion-$2.7 billion, compared to the consensus revenue estimate of $2.7 billion.

Bright Horizons Family Solutions Trading Up 3.0 %

Shares of BFAM traded up $3.29 during trading hours on Monday, reaching $114.52. The stock had a trading volume of 759,599 shares, compared to its average volume of 344,130. The company has a market cap of $6.64 billion, a P/E ratio of 78.33, a P/E/G ratio of 4.28 and a beta of 1.38. Bright Horizons Family Solutions has a 52 week low of $71.65 and a 52 week high of $119.21. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 0.78. The firm has a 50-day moving average of $111.11 and a 200 day moving average of $98.95.

Bright Horizons Family Solutions (NYSE:BFAM) last posted its earnings results on Tuesday, February 13th. The company reported $0.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.12. The firm had revenue of $615.65 million during the quarter, compared to analysts’ expectations of $588.63 million. Bright Horizons Family Solutions had a return on equity of 12.14% and a net margin of 3.34%. On average, sell-side analysts expect that Bright Horizons Family Solutions will post 2.69 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have weighed in on BFAM shares. Robert W. Baird lifted their price target on shares of Bright Horizons Family Solutions from $105.00 to $115.00 and gave the company a neutral rating in a research note on Friday. StockNews.com raised shares of Bright Horizons Family Solutions from a sell rating to a hold rating in a research report on Friday. BMO Capital Markets increased their target price on Bright Horizons Family Solutions from $102.00 to $104.00 and gave the stock a market perform rating in a report on Friday. UBS Group cut their price target on Bright Horizons Family Solutions from $103.00 to $102.00 and set a neutral rating on the stock in a report on Wednesday, February 14th. Finally, Barclays raised Bright Horizons Family Solutions from an equal weight rating to an overweight rating and upped their price objective for the stock from $100.00 to $125.00 in a research report on Wednesday, February 28th. One analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of Hold and a consensus price target of $106.63.

Insider Buying and Selling

In other news, COO Mary Lou Burke sold 1,500 shares of the company’s stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $105.00, for a total value of $157,500.00. Following the sale, the chief operating officer now directly owns 37,253 shares of the company’s stock, valued at approximately $3,911,565. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CFO Elizabeth J. Boland sold 15,640 shares of Bright Horizons Family Solutions stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $113.77, for a total transaction of $1,779,362.80. Following the completion of the sale, the chief financial officer now owns 89,983 shares of the company’s stock, valued at approximately $10,237,365.91. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Mary Lou Burke sold 1,500 shares of the stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $105.00, for a total transaction of $157,500.00. Following the completion of the transaction, the chief operating officer now directly owns 37,253 shares in the company, valued at $3,911,565. The disclosure for this sale can be found here. 1.28% of the stock is owned by corporate insiders.

About Bright Horizons Family Solutions

Bright Horizons Family Solutions Inc provides early education and childcare, back-up care, educational advisory, and other workplace solutions services for employers and families in the United States, Puerto Rico, the United Kingdom, the Netherlands, Australia, and India. The company operates in three segments: Full Service Center-Based Child Care, Back-Up Care, and Educational Advisory and Other Services.