CBIZ (NYSE:CBZ) Issues FY24 Earnings Guidance

CBIZ (NYSE:CBZ) updated its FY24 earnings guidance on Tuesday. The company provided EPS guidance of $2.64-$2.69 for the period, compared to the consensus EPS 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.

CBIZ Stock Up 7.5 %

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

CBIZ (NYSE:CBZ) last released its quarterly earnings data on Thursday, August 1st. The business services provider reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.68 by ($0.29). CBIZ had a return on equity of 14.58% and a net margin of 7.12%. The firm had revenue of $420.00 million for the quarter, compared to analysts’ expectations of $430.38 million. During the same period last year, the firm posted $0.55 earnings per share. CBIZ’s revenue for the quarter was up 5.4% on a year-over-year basis. As a group, analysts forecast that CBIZ will post 2.64 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on CBZ shares. StockNews.com lowered shares of CBIZ from a “hold” rating to a “sell” rating in a research note on Thursday, September 5th. Sidoti upgraded shares of CBIZ from a “neutral” rating to a “buy” rating and upped their target price for the stock from $80.00 to $86.00 in a research report on Monday, August 12th.

CBIZ Company Profile

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.