Paychex (NASDAQ:PAYX) Issues FY 2021 Pre-Market Earnings Guidance

Paychex (NASDAQ:PAYX) updated its FY 2021
Pre-Market earnings guidance on Tuesday. The company provided earnings per share guidance of 2.70-2.82 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $2.78. The company issued revenue guidance of $3.838-3.96 billion, compared to the consensus revenue estimate of $3.9 billion.

Several equities analysts have recently issued reports on the company. Robert W. Baird lowered their price target on Paychex from $87.00 to $67.00 and set a neutral rating for the company in a research report on Thursday, March 26th. Cowen boosted their target price on Paychex from $60.00 to $65.00 and gave the stock a market perform rating in a research report on Wednesday, May 20th. Stifel Nicolaus reduced their price target on shares of Paychex from $87.00 to $55.00 and set a hold rating for the company in a research report on Tuesday, March 24th. BidaskClub lowered shares of Paychex from a hold rating to a sell rating in a research report on Saturday, June 13th. Finally, BMO Capital Markets boosted their price objective on Paychex from $70.00 to $74.00 and gave the company a market perform rating in a research note on Wednesday. Two analysts have rated the stock with a sell rating, ten have given a hold rating and one has given a buy rating to the stock. Paychex has an average rating of Hold and an average price target of $73.27.

Shares of NASDAQ:PAYX opened at $73.94 on Thursday. The stock has a 50 day moving average of $73.60 and a 200 day moving average of $75.51. The company has a market cap of $26.52 billion, a PE ratio of 24.32, a price-to-earnings-growth ratio of 3.37 and a beta of 0.95. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 0.33. Paychex has a 12-month low of $47.87 and a 12-month high of $90.54.

Paychex (NASDAQ:PAYX) last posted its quarterly earnings results on Tuesday, July 7th. The business services provider reported $0.61 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.60 by $0.01. Paychex had a return on equity of 41.40% and a net margin of 27.18%. The business had revenue of $915.10 million during the quarter, compared to the consensus estimate of $910.68 million. During the same period in the prior year, the company posted $0.63 EPS. The firm’s revenue for the quarter was down 6.7% compared to the same quarter last year. Equities research analysts predict that Paychex will post 2.74 earnings per share for the current fiscal year.

About Paychex

Paychex, Inc provides payroll, human resource (HR), retirement, and insurance services for small to medium-sized businesses in the United States and Europe. The company offers payroll processing services; payroll tax administration services; employee payment services; and regulatory compliance services, such as new-hire reporting and garnishment processing.

Recommended Story: Day Trading

Earnings History and Estimates for Paychex (NASDAQ:PAYX)

Receive News & Ratings for Paychex Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Paychex and related companies with MarketBeat.com's FREE daily email newsletter.