CBIZ (NYSE:CBZ) Issues FY 2024 Earnings Guidance

CBIZ (NYSE:CBZ) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of 2.700-2.750 for the period, compared to the consensus estimate of 2.720. The company issued revenue guidance of $1.7 billion-$1.7 billion, compared to the consensus revenue estimate of $1.7 billion. CBIZ also updated its FY24 guidance to $2.70 to $2.75 EPS.

CBIZ Trading Down 3.5 %

Shares of NYSE:CBZ traded down $2.77 on Thursday, reaching $75.56. 698,093 shares of the company traded hands, compared to its average volume of 309,857. The stock has a market capitalization of $3.79 billion, a P/E ratio of 31.74 and a beta of 0.83. The business’s 50-day simple moving average is $75.61 and its 200 day simple moving average is $65.02. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 0.39. CBIZ has a 52 week low of $49.13 and a 52 week high of $79.55.

CBIZ (NYSE:CBZ) last posted its quarterly earnings results on Thursday, February 15th. The business services provider reported ($0.26) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.27) by $0.01. CBIZ had a return on equity of 15.49% and a net margin of 7.60%. The business had revenue of $327.50 million for the quarter, compared to analyst estimates of $308.87 million. During the same period last year, the company earned ($0.21) EPS. CBIZ’s revenue for the quarter was up 11.0% compared to the same quarter last year. As a group, equities analysts anticipate that CBIZ will post 2.74 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Sidoti cut shares of CBIZ from a buy rating to a neutral rating and set a $63.00 price objective on the stock. in a research 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.