CBIZ (NYSE:CBZ) Releases FY24 Earnings Guidance

CBIZ (NYSE:CBZ) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $2.70 to $2.75 for the period, compared to the consensus 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 Down 3.7 %

NYSE:CBZ traded down $2.78 on Friday, hitting $72.75. 321,086 shares of the company’s stock were exchanged, compared to its average volume of 309,995. The firm has a 50-day moving average price of $75.72 and a 200-day moving average price of $65.09. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.20 and a quick ratio of 1.20. CBIZ has a 52 week low of $49.13 and a 52 week high of $79.55. The company has a market cap of $3.65 billion, a P/E ratio of 30.57 and a beta of 0.83.

CBIZ (NYSE:CBZ) last issued its earnings results on Thursday, April 25th. The business services provider reported $1.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.57 by ($0.03). The firm had revenue of $494.30 million during the quarter, compared to the consensus estimate of $490.88 million. CBIZ had a net margin of 7.60% and a return on equity of 15.49%. The firm’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same period in the previous year, the company posted $1.46 earnings per share. As a group, analysts expect that CBIZ will post 2.74 EPS for the current fiscal year.

Analysts Set New Price Targets

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