Bright Horizons Family Solutions (NYSE:BFAM) Posts Earnings Results, Beats Expectations By $0.15 EPS

Bright Horizons Family Solutions (NYSE:BFAM) released its earnings results on Thursday. The company reported $0.88 EPS for the quarter, topping analysts’ consensus estimates of $0.73 by $0.15, Briefing.com reports. Bright Horizons Family Solutions had a net margin of 3.98% and a return on equity of 13.08%. The business had revenue of $670.10 million for the quarter, compared to the consensus estimate of $666.17 million. During the same period in the previous year, the firm earned $0.54 EPS. The business’s revenue for the quarter was up 11.1% on a year-over-year basis. Bright Horizons Family Solutions updated its FY24 guidance to $3.30-3.40 EPS and its FY 2024 guidance to 3.300-3.400 EPS.

Bright Horizons Family Solutions Stock Up 14.1 %

Bright Horizons Family Solutions stock traded up $16.72 during trading hours on Friday, hitting $135.15. The company had a trading volume of 1,596,166 shares, compared to its average volume of 310,371. The firm has a market capitalization of $7.84 billion, a P/E ratio of 95.18, a price-to-earnings-growth ratio of 4.44 and a beta of 1.45. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.51 and a quick ratio of 0.51. The firm’s fifty day moving average is $110.98 and its 200-day moving average is $109.21. Bright Horizons Family Solutions has a fifty-two week low of $71.65 and a fifty-two week high of $136.22.

Analyst Ratings Changes

BFAM has been the subject of several research analyst reports. StockNews.com upgraded shares of Bright Horizons Family Solutions from a “sell” rating to a “hold” rating in a research report on Friday, May 3rd. Robert W. Baird upped their price target 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. Deutsche Bank Aktiengesellschaft upped their price target on shares of Bright Horizons Family Solutions from $114.00 to $140.00 and gave the company a “hold” rating in a research report on Friday. JPMorgan Chase & Co. upped their price target on shares of Bright Horizons Family Solutions from $119.00 to $137.00 and gave the company an “overweight” rating in a research report on Friday. Finally, The Goldman Sachs Group upped their price target on shares of Bright Horizons Family Solutions from $125.00 to $142.00 and gave the company a “buy” rating in a research report on Friday. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Bright Horizons Family Solutions has a consensus rating of “Hold” and a consensus price target of $128.43.

Insider Buying and Selling at Bright Horizons Family Solutions

In other Bright Horizons Family Solutions news, Director Mary Ann Tocio sold 4,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $108.95, for a total value of $435,800.00. Following the transaction, the director now owns 31,855 shares in the company, valued at approximately $3,470,602.25. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, Director Mary Ann Tocio sold 4,000 shares of the stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $108.95, for a total transaction of $435,800.00. Following the transaction, the director now owns 31,855 shares in the company, valued at approximately $3,470,602.25. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Jason Janoff sold 6,000 shares of the stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $113.79, for a total transaction of $682,740.00. Following the transaction, the chief accounting officer now owns 8,955 shares in the company, valued at approximately $1,018,989.45. The disclosure for this sale can be found here. In the last quarter, insiders have sold 28,447 shares of company stock worth $3,186,710. 1.22% of the stock is currently owned by company 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.