CBIZ (NYSE:CBZ) Posts Quarterly Earnings Results, Misses Estimates By $0.03 EPS

CBIZ (NYSE:CBZ) issued its earnings results on Thursday. The business services provider reported $1.54 EPS for the quarter, missing the consensus estimate of $1.57 by ($0.03), Briefing.com reports. The firm had revenue of $494.30 million during the quarter, compared to analyst estimates of $490.88 million. CBIZ had a net margin of 7.60% and a return on equity of 15.49%. CBIZ’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.46 earnings per share. CBIZ updated its FY 2024 guidance to 2.700-2.750 EPS and its FY24 guidance to $2.70 to $2.75 EPS.

CBIZ Price Performance

CBZ stock traded down $2.77 during trading on Friday, reaching $72.76. 320,725 shares of the company were exchanged, compared to its average volume of 309,990. The company has a 50-day moving average of $75.61 and a two-hundred day moving average of $65.02. The company has a market capitalization of $3.65 billion, a price-to-earnings ratio of 30.57 and a beta of 0.83. CBIZ has a twelve month low of $49.13 and a twelve month high of $79.55. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.20 and a quick ratio of 1.20.

Analyst Ratings Changes

Separately, Sidoti cut shares of CBIZ from a “buy” rating to a “neutral” rating and set a $63.00 price objective for the company. in a research 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.