Bright Horizons Family Solutions (NYSE:BFAM) Releases FY24 Earnings Guidance

Bright Horizons Family Solutions (NYSE:BFAM) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $3.00-3.20 for the period, compared to the consensus estimate of $3.08. The company issued revenue guidance of $2.60-2.70 billion, compared to the consensus revenue estimate of $2.66 billion.

Analyst Ratings Changes

A number of brokerages have issued reports on BFAM. The Goldman Sachs Group upped their price objective on shares of Bright Horizons Family Solutions from $108.00 to $123.00 and gave the stock a buy rating in a research report on Wednesday, April 10th. Robert W. Baird raised their price objective on shares of Bright Horizons Family Solutions from $94.00 to $105.00 and gave the stock a neutral rating in a report on Thursday, February 15th. Barclays upgraded Bright Horizons Family Solutions from an equal weight rating to an overweight rating and increased their target price for the stock from $100.00 to $125.00 in a research report on Wednesday, February 28th. JPMorgan Chase & Co. lifted their price target on Bright Horizons Family Solutions from $93.00 to $107.00 and gave the company an overweight rating in a research report on Wednesday, February 14th. Finally, UBS Group decreased their price objective on Bright Horizons Family Solutions from $103.00 to $102.00 and set a neutral rating on the stock in a research note on Wednesday, February 14th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of Hold and a consensus price target of $102.38.

Bright Horizons Family Solutions Price Performance

BFAM traded up $0.54 on Thursday, reaching $104.27. The company had a trading volume of 450,625 shares, compared to its average volume of 335,396. Bright Horizons Family Solutions has a 52-week low of $71.65 and a 52-week high of $119.21. The company has a market cap of $6.05 billion, a price-to-earnings ratio of 81.60, a P/E/G ratio of 3.99 and a beta of 1.38. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.56 and a current ratio of 0.56. The business has a 50 day simple moving average of $111.12 and a 200 day simple moving average of $98.42.

Bright Horizons Family Solutions (NYSE:BFAM) last posted its quarterly earnings data on Tuesday, February 13th. The company reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.12. Bright Horizons Family Solutions had a net margin of 3.07% and a return on equity of 12.24%. The firm had revenue of $615.65 million for the quarter, compared to analysts’ expectations of $588.63 million. As a group, sell-side analysts anticipate that Bright Horizons Family Solutions will post 2.69 EPS for the current year.

Insider Activity at Bright Horizons Family Solutions

In related news, CFO Elizabeth J. Boland sold 15,640 shares of the stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $113.77, for a total transaction of $1,779,362.80. Following the completion of the sale, the chief financial officer now directly owns 89,983 shares in the company, valued at approximately $10,237,365.91. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CFO Elizabeth J. Boland sold 15,640 shares of the business’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $113.77, for a total transaction of $1,779,362.80. Following the transaction, the chief financial officer now owns 89,983 shares in the company, valued at $10,237,365.91. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Mary Lou Burke sold 1,500 shares of the company’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $105.00, for a total value of $157,500.00. Following the transaction, the chief operating officer now owns 37,253 shares in the company, valued at approximately $3,911,565. The disclosure for this sale can be found here. 1.28% of the stock is currently owned by insiders.

About Bright Horizons Family Solutions

Bright Horizons Family Solutions Inc provides early education and childcare, back-up care, educational advisory, and other workplace solutions services for employers and families in the United States, Puerto Rico, the United Kingdom, the Netherlands, Australia, and India. The company operates in three segments: Full Service Center-Based Child Care, Back-Up Care, and Educational Advisory and Other Services.