CBIZ (NYSE:CBZ) Updates FY24 Earnings Guidance

CBIZ (NYSE:CBZ) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided earnings per share guidance of $2.64-$2.69 for the period, compared to the consensus earnings per share estimate of $2.52. The company issued revenue guidance of $1.70-$1.73 billion, compared to the consensus revenue estimate of $1.71 billion. CBIZ also updated its FY 2024 guidance to 2.640-2.690 EPS.

CBIZ Stock Down 2.8 %

Shares of CBIZ stock traded down $1.95 during trading hours on Thursday, reaching $68.93. 415,926 shares of the company’s stock were exchanged, compared to its average volume of 315,098. CBIZ has a fifty-two week low of $51.16 and a fifty-two week high of $86.36. The stock has a market cap of $3.46 billion, a P/E ratio of 29.21 and a beta of 0.92. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.43. The company has a 50 day moving average of $67.89 and a two-hundred day moving average of $72.86.

CBIZ (NYSE:CBZ) last released its quarterly earnings data on Tuesday, October 29th. The business services provider reported $0.84 EPS for the quarter, beating the consensus estimate of $0.76 by $0.08. CBIZ had a return on equity of 14.58% and a net margin of 7.12%. The company had revenue of $438.90 million during the quarter, compared to the consensus estimate of $440.16 million. During the same quarter in the prior year, the firm posted $0.66 EPS. The firm’s revenue for the quarter was up 6.9% compared to the same quarter last year. On average, sell-side analysts forecast that CBIZ will post 2.64 EPS for the current fiscal year.

Wall Street Analyst Weigh In

CBZ has been the topic of a number of recent analyst reports. Sidoti raised CBIZ from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $80.00 to $86.00 in a research report on Monday, August 12th. StockNews.com cut shares of CBIZ from a “hold” rating to a “sell” rating in a research report on Thursday, September 5th.

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.