CBIZ (NYSE:CBZ) Issues Quarterly Earnings Results

CBIZ (NYSE:CBZ) posted its quarterly earnings results on Thursday. The business services provider reported $1.54 EPS for the quarter, missing the consensus estimate of $1.57 by ($0.03), Briefing.com reports. The business had revenue of $494.30 million during the quarter, compared to analysts’ expectations of $490.88 million. CBIZ had a net margin of 7.60% and a return on equity of 15.49%. The firm’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same quarter last year, the firm earned $1.46 EPS. CBIZ updated its FY 2024 guidance to 2.700-2.750 EPS and its FY24 guidance to $2.70 to $2.75 EPS.

CBIZ Trading Down 3.7 %

Shares of NYSE CBZ traded down $2.77 during midday trading on Friday, hitting $72.76. The stock had a trading volume of 321,086 shares, compared to its average volume of 309,995. The company has a market capitalization of $3.65 billion, a price-to-earnings ratio of 30.57 and a beta of 0.83. CBIZ has a 1-year low of $49.13 and a 1-year high of $79.55. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.39. The company has a fifty day moving average price of $75.72 and a 200 day moving average price of $65.09.

Wall Street Analyst Weigh In

Separately, Sidoti cut CBIZ from a “buy” rating to a “neutral” rating and set a $63.00 price target for the company. in a report on Tuesday, January 2nd.

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.