CBIZ (NYSE:CBZ) Issues FY24 Earnings Guidance

CBIZ (NYSE:CBZ) issued an update on its FY24 earnings guidance on Thursday morning. The company provided EPS guidance of $2.70 to $2.75 for the period, compared to the consensus EPS estimate of $2.72. The company issued revenue guidance of +7 to +9% yr/yr or $1.703 billion to $1.734 billion, compared to the consensus revenue estimate of $1.72 billion. CBIZ also updated its FY 2024 guidance to 2.700-2.750 EPS.

CBIZ Stock Performance

NYSE:CBZ traded down $2.77 during mid-day trading on Friday, hitting $72.76. 321,086 shares of the company’s stock traded hands, compared to its average volume of 269,704. The firm has a 50 day moving average of $75.72 and a two-hundred day moving average of $65.09. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 0.39. The firm has a market capitalization of $3.65 billion, a price-to-earnings ratio of 29.46 and a beta of 0.83. CBIZ has a 12 month low of $49.13 and a 12 month high of $79.55.

CBIZ (NYSE:CBZ) last posted its quarterly earnings results on Thursday, April 25th. The business services provider reported $1.54 EPS for the quarter, missing the consensus estimate of $1.57 by ($0.03). 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 7.65% and a return on equity of 15.79%. The company’s revenue was up 8.7% on a year-over-year basis. During the same period last year, the company earned $1.46 EPS. On average, equities analysts forecast that CBIZ will post 2.74 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have commented on CBZ. Sidoti cut CBIZ from a buy rating to a neutral rating and set a $63.00 price target for the company. in a report on Tuesday, January 2nd. StockNews.com cut CBIZ from a hold rating to a sell rating in a report on Friday.

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.