CBIZ (NYSE:CBZ) Posts Quarterly Earnings Results, Beats Estimates By $0.08 EPS

CBIZ (NYSE:CBZ) announced its quarterly earnings data on Tuesday. The business services provider reported $0.84 earnings per share (EPS) for the quarter, beating the consensus estimate 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 business had revenue of $438.90 million for the quarter, compared to analysts’ expectations of $440.16 million. During the same period last year, the firm earned $0.66 earnings per share. The company’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 Price Performance

CBZ stock traded up $0.24 on Friday, reaching $69.17. 36,930 shares of the company’s stock were exchanged, compared to its average volume of 313,786. CBIZ has a twelve month low of $53.37 and a twelve 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 stock has a fifty day moving average of $67.89 and a 200-day moving average of $72.86. The firm has a market cap of $3.47 billion, a PE ratio of 29.21 and a beta of 0.92.

Analyst Ratings Changes

Several analysts recently commented on the stock. Sidoti upgraded 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 research report on Monday, August 12th. StockNews.com downgraded CBIZ from a “hold” rating to a “sell” rating in a report on Thursday, September 5th.

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.