Consensus Cloud Solutions (NASDAQ:CCSI) Releases FY 2024 Earnings Guidance

Consensus Cloud Solutions (NASDAQ:CCSI) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of 5.080-5.310 for the period, compared to the consensus estimate of 5.300. The company issued revenue guidance of $338.0 million-$353.0 million, compared to the consensus revenue estimate of $343.9 million.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Oppenheimer lowered their price target on shares of Consensus Cloud Solutions from $29.00 to $20.00 and set an outperform rating on the stock in a research report on Thursday, May 9th. Wedbush restated an outperform rating and set a $24.00 target price on shares of Consensus Cloud Solutions in a report on Friday, May 10th.

Consensus Cloud Solutions Trading Up 5.1 %

Shares of NASDAQ:CCSI opened at $17.18 on Friday. The company has a market capitalization of $330.20 million, a price-to-earnings ratio of 3.79 and a beta of 1.38. Consensus Cloud Solutions has a 12-month low of $11.62 and a 12-month high of $35.29. The business has a 50-day moving average price of $16.98 and a 200 day moving average price of $17.98.

Consensus Cloud Solutions (NASDAQ:CCSI) last posted its earnings results on Wednesday, May 8th. The company reported $1.36 earnings per share for the quarter, beating the consensus estimate of $1.06 by $0.30. The firm had revenue of $88.15 million during the quarter, compared to the consensus estimate of $87.29 million. Consensus Cloud Solutions had a net margin of 24.55% and a negative return on equity of 49.60%. As a group, equities research analysts predict that Consensus Cloud Solutions will post 4.51 earnings per share for the current fiscal year.

About Consensus Cloud Solutions

Consensus Cloud Solutions, Inc, together with its subsidiaries, provides information delivery services with a software-as-a-service platform worldwide. The company offers eFax Corporate, a digital cloud-fax technology; Unite, a single platform that allows the user to choose between various protocols to send and receive healthcare information and can integrate into an existing electronic health record system or stand-alone if no EHR is present.