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

Bright Horizons Family Solutions (NYSE:BFAM) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share guidance of 3.300-3.400 for the period, compared to the consensus earnings per share estimate of 3.140. 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 $3.30-3.40 EPS.

Bright Horizons Family Solutions Stock Up 14.1 %

Shares of BFAM traded up $16.72 during midday trading on Friday, reaching $135.15. 1,596,166 shares of the stock were exchanged, compared to its average volume of 310,371. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.76. The company’s 50 day moving average is $110.98 and its two-hundred day moving average is $109.29. The company has a market capitalization of $7.84 billion, a P/E ratio of 95.18, a PEG ratio of 4.44 and a beta of 1.45. Bright Horizons Family Solutions has a 52 week low of $71.65 and a 52 week high of $136.22.

Bright Horizons Family Solutions (NYSE:BFAM) last issued its quarterly earnings data on Thursday, August 1st. The company reported $0.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.15. Bright Horizons Family Solutions had a net margin of 3.98% and a return on equity of 13.08%. The company had revenue of $670.10 million for the quarter, compared to analyst estimates of $666.17 million. During the same period last year, the company posted $0.54 earnings per share. Bright Horizons Family Solutions’s revenue was up 11.1% compared to the same quarter last year. On average, sell-side analysts anticipate that Bright Horizons Family Solutions will post 2.76 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on BFAM. Robert W. Baird raised their price objective on Bright Horizons Family Solutions from $115.00 to $131.00 and gave the stock a neutral rating in a research report on Friday. Deutsche Bank Aktiengesellschaft raised their price target on Bright Horizons Family Solutions from $114.00 to $140.00 and gave the stock a hold rating in a report on Friday. BMO Capital Markets lifted their target price on shares of Bright Horizons Family Solutions from $104.00 to $122.00 and gave the stock a market perform rating in a research note on Friday. 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 note on Friday. Finally, StockNews.com raised shares of Bright Horizons Family Solutions from a sell rating to a hold rating in a report on Friday, May 3rd. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Hold and a consensus target price of $128.43.

Insider Activity at Bright Horizons Family Solutions

In related news, CAO Jason Janoff sold 6,000 shares of the business’s stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $113.79, for a total value of $682,740.00. Following the completion of the transaction, the chief accounting officer now directly owns 8,955 shares in the company, valued at approximately $1,018,989.45. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Bright Horizons Family Solutions news, CEO Stephen Howard Kramer sold 11,250 shares of the firm’s stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $113.95, for a total value of $1,281,937.50. Following the sale, the chief executive officer now directly owns 122,573 shares of the company’s stock, valued at $13,967,193.35. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Jason Janoff sold 6,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $113.79, for a total value of $682,740.00. Following the completion of the sale, the chief accounting officer now owns 8,955 shares of the company’s stock, valued at $1,018,989.45. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 28,447 shares of company stock worth $3,186,710. 1.22% 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.