CBIZ (NYSE:CBZ) Announces Quarterly Earnings Results

CBIZ (NYSE:CBZ) issued its quarterly earnings results on Tuesday. The business services provider reported $0.84 earnings per share for the quarter, topping analysts’ consensus estimates of $0.76 by $0.08, Briefing.com reports. CBIZ had a return on equity of 15.47% and a net margin of 7.08%. The company had revenue of $438.90 million for the quarter, compared to analyst estimates of $440.16 million. During the same quarter in the prior year, the company posted $0.66 EPS. The business’s revenue for the quarter was up 6.9% compared to the same quarter last year. CBIZ updated its FY 2024 guidance to 2.640-2.690 EPS and its FY24 guidance to $2.64-$2.69 EPS.

CBIZ Stock Performance

Shares of CBIZ stock traded up $0.30 on Friday, reaching $69.23. 49,400 shares of the company were exchanged, compared to its average volume of 313,844. The firm has a market cap of $3.48 billion, a price-to-earnings ratio of 29.21 and a beta of 0.92. The company’s 50-day moving average is $67.89 and its two-hundred day moving average is $72.86. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.48 and a current ratio of 1.48. CBIZ has a 1-year low of $53.37 and a 1-year high of $86.36.

Wall Street Analyst Weigh In

A number of research firms have recently commented on CBZ. StockNews.com cut shares of CBIZ from a “hold” rating to a “sell” rating in a research report on Thursday, September 5th. Sidoti raised shares of CBIZ from a “neutral” rating to a “buy” rating and upped their price target for the company from $80.00 to $86.00 in a report on Monday, August 12th.

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.