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

Bright Horizons Family Solutions (NYSE:BFAM) issued an update on its FY 2024 earnings guidance on Monday morning. The company provided EPS guidance of 3.370-3.420 for the period, compared to the consensus EPS estimate of 3.360. The company issued revenue guidance of $2.7 billion-$2.7 billion, compared to the consensus revenue estimate of $2.7 billion. Bright Horizons Family Solutions also updated its FY24 guidance to $3.37-$3.42 EPS.

Wall Street Analyst Weigh In

Several equities research analysts have commented on BFAM shares. Morgan Stanley boosted their target price on Bright Horizons Family Solutions from $92.00 to $100.00 and gave the company an “underweight” rating in a research note on Wednesday, September 11th. UBS Group upped their target price on shares of Bright Horizons Family Solutions from $128.00 to $145.00 and gave the company a “neutral” rating in a report on Tuesday, October 8th. Robert W. Baird increased their price objective on shares of Bright Horizons Family Solutions from $115.00 to $131.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. BMO Capital Markets upped their price objective on Bright Horizons Family Solutions from $104.00 to $122.00 and gave the company a “market perform” rating in a report on Friday, August 2nd. Finally, JPMorgan Chase & Co. boosted their price target on Bright Horizons Family Solutions from $119.00 to $137.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $134.63.

Bright Horizons Family Solutions Stock Down 0.5 %

Bright Horizons Family Solutions stock traded down $0.71 during trading on Monday, hitting $132.83. 750,557 shares of the company were exchanged, compared to its average volume of 354,923. Bright Horizons Family Solutions has a 52 week low of $80.29 and a 52 week high of $141.90. The business’s 50 day moving average is $136.39 and its 200 day moving average is $122.00. The company has a market capitalization of $7.71 billion, a P/E ratio of 76.34 and a beta of 1.49. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 0.73.

Bright Horizons Family Solutions (NYSE:BFAM) last issued its earnings results on Thursday, August 1st. The company reported $0.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.73 by $0.15. Bright Horizons Family Solutions had a net margin of 3.98% and a return on equity of 12.86%. The business had revenue of $670.10 million for the quarter, compared to analysts’ expectations of $666.17 million. During the same quarter in the previous year, the firm posted $0.54 EPS. The business’s revenue for the quarter was up 11.1% compared to the same quarter last year. Analysts predict that Bright Horizons Family Solutions will post 2.98 earnings per share for the current year.

Insider Buying and Selling at Bright Horizons Family Solutions

In other Bright Horizons Family Solutions news, Director Mary Ann Tocio sold 2,500 shares of the business’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $130.93, for a total value of $327,325.00. Following the completion of the sale, the director now directly owns 30,257 shares of the company’s stock, valued at $3,961,549.01. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, Director Mary Ann Tocio sold 2,500 shares of the business’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $130.93, for a total transaction of $327,325.00. Following the transaction, the director now owns 30,257 shares in the company, valued at $3,961,549.01. 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 at this link. Also, COO Mary Lou Burke sold 800 shares of Bright Horizons Family Solutions stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $140.65, for a total transaction of $112,520.00. Following the completion of the sale, the chief operating officer now owns 31,825 shares in the company, valued at approximately $4,476,186.25. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 4,100 shares of company stock worth $549,397 over the last three months. 1.22% of the stock is owned by 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.