Bright Horizons Family Solutions (NYSE:BFAM) Updates 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 guidance of $3.30-3.40 for the period, compared to the consensus earnings per share estimate of $3.14. The company issued revenue guidance of $2.65-2.70 billion, compared to the consensus revenue estimate of $2.67 billion. Bright Horizons Family Solutions also updated its FY 2024 guidance to 3.300-3.400 EPS.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. The Goldman Sachs Group lifted their price target on shares of Bright Horizons Family Solutions from $125.00 to $142.00 and gave the stock a buy rating in a report on Friday. JPMorgan Chase & Co. boosted their target price on shares of Bright Horizons Family Solutions from $119.00 to $137.00 and gave the company an overweight rating in a report on Friday. Robert W. Baird boosted their target price on shares of Bright Horizons Family Solutions from $115.00 to $131.00 and gave the company a neutral rating in a report on Friday. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Bright Horizons Family Solutions from $114.00 to $140.00 and gave the company a hold rating in a report on Friday. Finally, BMO Capital Markets boosted their target price on shares of Bright Horizons Family Solutions from $104.00 to $122.00 and gave the company a market perform rating in a report on Friday. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of Hold and an average price target of $128.43.

Bright Horizons Family Solutions Stock Up 14.1 %

Shares of NYSE BFAM traded up $16.72 during trading on Friday, reaching $135.15. 1,596,166 shares of the stock were exchanged, compared to its average volume of 310,371. The business’s 50-day moving average price is $110.98 and its 200 day moving average price is $109.21. Bright Horizons Family Solutions has a twelve month low of $71.65 and a twelve month high of $136.22. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.76. The company has a market capitalization of $7.84 billion, a price-to-earnings ratio of 95.18, a price-to-earnings-growth ratio of 4.44 and a beta of 1.45.

Bright Horizons Family Solutions (NYSE:BFAM) last posted its earnings results on Thursday, August 1st. The company reported $0.88 EPS for the quarter, topping analysts’ consensus estimates of $0.73 by $0.15. Bright Horizons Family Solutions had a net margin of 3.98% and a return on equity of 13.08%. The business had revenue of $670.10 million for the quarter, compared to analysts’ expectations of $666.17 million. During the same period in the previous year, the company posted $0.54 earnings per share. The business’s revenue for the quarter was up 11.1% compared to the same quarter last year. As a group, equities analysts forecast that Bright Horizons Family Solutions will post 2.76 EPS for the current fiscal year.

Insider Activity at Bright Horizons Family Solutions

In related news, CEO Stephen Howard Kramer sold 11,250 shares of the company’s stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $113.95, for a total value of $1,281,937.50. Following the sale, the chief executive officer now directly owns 122,573 shares of the company’s stock, valued at $13,967,193.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Bright Horizons Family Solutions news, CAO Jason Janoff sold 6,000 shares of the business’s stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $113.79, for a total transaction of $682,740.00. Following the completion of the sale, the chief accounting officer now owns 8,955 shares in the company, valued at $1,018,989.45. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Stephen Howard Kramer sold 11,250 shares of the business’s stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $113.95, for a total transaction of $1,281,937.50. Following the sale, the chief executive officer now owns 122,573 shares of the company’s stock, valued at approximately $13,967,193.35. The disclosure for this sale can be found here. Insiders have sold 28,447 shares of company stock valued at $3,186,710 over the last ninety days. Corporate insiders own 1.22% of the company’s stock.

Bright Horizons Family Solutions Company Profile

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.