CBIZ (NYSE:CBZ) Updates FY24 Earnings Guidance

CBIZ (NYSE:CBZ) updated its FY24 earnings guidance on Tuesday. The company provided earnings per share guidance of $2.64-$2.69 for the period, compared to the consensus earnings per share estimate of $2.52. The company issued revenue guidance of $1.70-$1.73 billion, compared to the consensus revenue estimate of $1.71 billion. CBIZ also updated its FY 2024 guidance to 2.640-2.690 EPS.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on CBZ. Sidoti upgraded shares of CBIZ from a “neutral” rating to a “buy” rating and lifted their price target for the company from $80.00 to $86.00 in a report on Monday, August 12th. StockNews.com lowered shares of CBIZ from a “hold” rating to a “sell” rating in a report on Thursday, September 5th.

CBIZ Trading Up 7.5 %

Shares of CBZ stock traded up $4.99 during mid-day trading on Tuesday, reaching $71.85. The company’s stock had a trading volume of 334,441 shares, compared to its average volume of 312,417. The company’s 50 day simple moving average is $67.91 and its 200-day simple moving average is $72.89. CBIZ has a 12-month low of $50.64 and a 12-month high of $86.36. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.43. The firm has a market capitalization of $3.61 billion, a PE ratio of 30.45 and a beta of 0.92.

CBIZ (NYSE:CBZ) last issued its earnings results on Thursday, August 1st. The business services provider reported $0.39 EPS for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.29). CBIZ had a net margin of 7.12% and a return on equity of 14.58%. The business had revenue of $420.00 million during the quarter, compared to analysts’ expectations of $430.38 million. During the same period in the prior year, the business posted $0.55 EPS. The business’s revenue was up 5.4% on a year-over-year basis. On average, research analysts predict that CBIZ will post 2.64 EPS for the current fiscal year.

About CBIZ

CBIZ, Inc provides financial, insurance, and advisory services in the United States and Canada. It operates through Financial Services, Benefits and Insurance Services, and National Practices segments. The Financial Services segment offers accounting and tax, financial advisory, valuation, risk and advisory, and government healthcare consulting services.