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

Bright Horizons Family Solutions (NYSE:BFAM) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided EPS guidance of 3.300-3.400 for the period, compared to the consensus EPS 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 Performance

Shares of NYSE BFAM traded up $16.72 during midday trading on Friday, reaching $135.15. The company’s stock had a trading volume of 1,596,166 shares, compared to its average volume of 310,371. The stock 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. 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 has a 50 day moving average price of $110.98 and a 200-day moving average price of $109.29. Bright Horizons Family Solutions has a 12-month low of $71.65 and a 12-month high of $136.22.

Bright Horizons Family Solutions (NYSE:BFAM) last posted its quarterly earnings data on Thursday, August 1st. The company reported $0.88 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.15. Bright Horizons Family Solutions had a return on equity of 13.08% and a net margin of 3.98%. The business had revenue of $670.10 million for the quarter, compared to analysts’ expectations of $666.17 million. During the same quarter in the previous year, the firm earned $0.54 earnings per share. The business’s revenue was up 11.1% on a year-over-year basis. As a group, equities analysts predict that Bright Horizons Family Solutions will post 2.76 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms recently issued reports on BFAM. BMO Capital Markets raised their price objective on shares of Bright Horizons Family Solutions from $104.00 to $122.00 and gave the stock a market perform rating in a report on Friday. Deutsche Bank Aktiengesellschaft upped their price objective on Bright Horizons Family Solutions from $114.00 to $140.00 and gave the company a hold rating in a research note on Friday. The Goldman Sachs Group raised their target price on Bright Horizons Family Solutions from $125.00 to $142.00 and gave the stock a buy rating in a research report on Friday. JPMorgan Chase & Co. upped their price target on Bright Horizons Family Solutions from $119.00 to $137.00 and gave the company an overweight rating in a research report on Friday. Finally, StockNews.com upgraded Bright Horizons Family Solutions from a sell rating to a hold rating in a research note on Friday, May 3rd. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Bright Horizons Family Solutions currently has a consensus rating of Hold and a consensus target price of $128.43.

Insider Activity at Bright Horizons Family Solutions

In other news, CEO Stephen Howard Kramer sold 11,250 shares of the stock in a transaction dated Wednesday, May 8th. The shares were 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 legal filing with the SEC, which is available at this link. In other Bright Horizons Family Solutions news, COO Mary Lou Burke sold 800 shares of the firm’s stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $106.42, for a total value of $85,136.00. Following the sale, the chief operating officer now owns 37,725 shares of the company’s stock, valued at approximately $4,014,694.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Stephen Howard Kramer sold 11,250 shares of the business’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 122,573 shares of the company’s stock, valued at approximately $13,967,193.35. The disclosure for this sale can be found here. In the last three months, insiders have sold 28,447 shares of company stock worth $3,186,710. 1.22% of the stock is owned by company insiders.

Bright Horizons Family Solutions Company Profile

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.