CBIZ (NYSE:CBZ) Releases FY24 Earnings Guidance

CBIZ (NYSE:CBZ) issued an update on its FY24 earnings guidance on Thursday morning. The company provided EPS guidance of $2.70 to $2.75 for the period, compared to the consensus EPS estimate of $2.72. The company issued revenue guidance of +7 to +9% yr/yr or $1.703 billion to $1.734 billion, compared to the consensus revenue estimate of $1.72 billion. CBIZ also updated its FY 2024 guidance to 2.700-2.750 EPS.

CBIZ Price Performance

NYSE:CBZ traded down $2.77 during trading hours on Friday, hitting $72.76. 321,086 shares of the company’s stock traded hands, compared to its average volume of 269,704. The firm has a market cap of $3.65 billion, a P/E ratio of 29.46 and a beta of 0.83. 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 business’s fifty day simple moving average is $75.72 and its two-hundred day simple moving average is $65.09. CBIZ has a 52 week low of $49.13 and a 52 week high of $79.55.

CBIZ (NYSE:CBZ) last issued its quarterly earnings results on Thursday, April 25th. The business services provider reported $1.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.57 by ($0.03). The business had revenue of $494.30 million for the quarter, compared to the consensus estimate of $490.88 million. CBIZ had a net margin of 7.65% and a return on equity of 15.79%. The business’s revenue was up 8.7% compared to the same quarter last year. During the same quarter last year, the business posted $1.46 EPS. On average, research analysts anticipate that CBIZ will post 2.74 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on CBZ shares. StockNews.com cut shares of CBIZ from a hold rating to a sell rating in a research report on Friday. Sidoti cut CBIZ from a buy rating to a neutral rating and set a $63.00 price objective for the company. in a report on Tuesday, January 2nd.

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.