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

CBIZ (NYSE:CBZ) posted its earnings results on Thursday. The business services provider reported $1.54 earnings per share for the quarter, missing the consensus estimate of $1.57 by ($0.03), Briefing.com reports. The firm had revenue of $494.30 million for the quarter, compared to analysts’ expectations of $490.88 million. CBIZ had a net margin of 7.60% and a return on equity of 15.49%. CBIZ’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same period last year, the firm earned $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

CBIZ stock traded down $2.77 during trading on Friday, reaching $72.76. The company had a trading volume of 321,086 shares, compared to its average volume of 309,995. CBIZ has a 1-year low of $49.13 and a 1-year high of $79.55. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.20 and a current ratio of 1.20. The firm’s 50-day simple moving average is $75.72 and its 200 day simple moving average is $65.09. The firm has a market capitalization of $3.65 billion, a PE ratio of 30.57 and a beta of 0.83.

Analysts Set New Price Targets

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