Analysts Set Expectations for Bentley Systems, Incorporated’s Q3 2024 Earnings (NASDAQ:BSY)

Bentley Systems, Incorporated (NASDAQ:BSY) – Equities researchers at Griffin Securities boosted their Q3 2024 earnings per share estimates for Bentley Systems in a research report issued to clients and investors on Sunday, August 11th. Griffin Securities analyst J. Vleeschhouwer now forecasts that the company will earn $0.24 per share for the quarter, up from their prior estimate of $0.22. The consensus estimate for Bentley Systems’ current full-year earnings is $0.85 per share. Griffin Securities also issued estimates for Bentley Systems’ FY2024 earnings at $0.98 EPS, Q1 2025 earnings at $0.29 EPS, Q2 2025 earnings at $0.27 EPS, Q3 2025 earnings at $0.27 EPS, Q4 2025 earnings at $0.30 EPS and FY2025 earnings at $1.13 EPS.

Several other research analysts have also commented on BSY. Mizuho lifted their price target on Bentley Systems from $57.00 to $60.00 and gave the stock a “buy” rating in a research report on Wednesday, May 8th. The Goldman Sachs Group dropped their target price on Bentley Systems from $57.00 to $50.00 and set a “neutral” rating for the company in a report on Wednesday, August 7th. Rosenblatt Securities restated a “buy” rating and issued a $62.00 price target on shares of Bentley Systems in a research report on Wednesday, August 7th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $61.00 price objective on shares of Bentley Systems in a research note on Wednesday, August 7th. Finally, Piper Sandler reissued an “overweight” rating and issued a $63.00 target price on shares of Bentley Systems in a research note on Wednesday, August 7th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $59.57.

Bentley Systems Stock Performance

Shares of NASDAQ:BSY opened at $49.92 on Wednesday. The firm has a fifty day simple moving average of $49.29 and a two-hundred day simple moving average of $50.86. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 1.53. The stock has a market capitalization of $14.40 billion, a P/E ratio of 46.65, a PEG ratio of 4.21 and a beta of 1.03. Bentley Systems has a 52 week low of $43.82 and a 52 week high of $57.19.

Bentley Systems (NASDAQ:BSY) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.08. Bentley Systems had a return on equity of 32.62% and a net margin of 28.09%. The business had revenue of $330.34 million for the quarter, compared to analysts’ expectations of $325.20 million. During the same period in the prior year, the firm earned $0.20 EPS. The company’s revenue for the quarter was up 11.3% on a year-over-year basis.

Bentley Systems Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 13th. Shareholders of record on Tuesday, June 4th were issued a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.48%. The ex-dividend date was Tuesday, June 4th. Bentley Systems’s payout ratio is 22.43%.

Hedge Funds Weigh In On Bentley Systems

A number of institutional investors have recently modified their holdings of the stock. Advisor OS LLC boosted its position in Bentley Systems by 0.7% during the second quarter. Advisor OS LLC now owns 30,983 shares of the company’s stock worth $1,529,000 after purchasing an additional 226 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Bentley Systems by 90.1% during the 2nd quarter. GAMMA Investing LLC now owns 576 shares of the company’s stock valued at $28,000 after buying an additional 273 shares in the last quarter. WR Wealth Planners LLC grew its stake in Bentley Systems by 4.5% in the 2nd quarter. WR Wealth Planners LLC now owns 6,435 shares of the company’s stock valued at $318,000 after acquiring an additional 275 shares during the period. LRI Investments LLC increased its holdings in Bentley Systems by 6.1% in the 2nd quarter. LRI Investments LLC now owns 5,534 shares of the company’s stock worth $273,000 after acquiring an additional 319 shares in the last quarter. Finally, Tortoise Investment Management LLC lifted its holdings in Bentley Systems by 75.4% during the second quarter. Tortoise Investment Management LLC now owns 833 shares of the company’s stock valued at $41,000 after purchasing an additional 358 shares in the last quarter. Hedge funds and other institutional investors own 44.16% of the company’s stock.

About Bentley Systems

Bentley Systems, Incorporated, together with its subsidiaries, provides infrastructure engineering software solutions in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. The company offers open modeling engineering applications, such as MicroStation, OpenBridge, OpenBuildings, OpenCities, OpenComms, OpenFlows, OpenPlant, OpenRail, OpenRoads, OpenSite, OpenTower, OpenTunnel, OpenUtilities, and OpenWindowPower; and open simulation engineering applications, including ADINA, AutoPIPE, CUBE, DYNAMEQ, EMME, LEGION, Power Line Systems, RAM, SACS, SPIDA, and STAAD; and geoprofessional applications for modeling and simulation of near and deep subsurface conditions, including AGS, Central, GeoStudio, Imago, Leapfrog, MX Deposit, Oasis montaj, OpenGround, and PLAXIS.