Consensus Cloud Solutions (NASDAQ:CCSI) Releases FY 2024 Earnings Guidance

Consensus Cloud Solutions (NASDAQ:CCSI) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share guidance of 5.450-5.550 for the period, compared to the consensus earnings per share estimate of 5.500. The company issued revenue guidance of $346.0 million-$350.0 million, compared to the consensus revenue estimate of $344.1 million. Consensus Cloud Solutions also updated its Q4 2024 guidance to 1.140-1.240 EPS.

Consensus Cloud Solutions Stock Down 3.9 %

Shares of CCSI stock traded down $1.03 during mid-day trading on Friday, reaching $25.05. 176,109 shares of the company’s stock traded hands, compared to its average volume of 127,914. The company’s 50-day moving average price is $22.43 and its 200-day moving average price is $19.87. The company has a market cap of $483.47 million, a P/E ratio of 5.33 and a beta of 1.38. Consensus Cloud Solutions has a 12 month low of $11.62 and a 12 month high of $28.09.

Consensus Cloud Solutions (NASDAQ:CCSI) last posted its quarterly earnings data on Thursday, August 8th. The company reported $1.26 EPS for the quarter, topping the consensus estimate of $1.11 by $0.15. Consensus Cloud Solutions had a net margin of 25.72% and a negative return on equity of 57.77%. The business had revenue of $87.50 million for the quarter, compared to analyst estimates of $87.10 million. Equities analysts predict that Consensus Cloud Solutions will post 4.86 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on CCSI shares. Wedbush raised their price objective on Consensus Cloud Solutions from $24.00 to $32.00 and gave the company an “outperform” rating in a research report on Friday. BTIG Research raised Consensus Cloud Solutions from a “neutral” rating to a “buy” rating and set a $30.00 price target for the company in a research report on Wednesday, August 21st. Oppenheimer increased their price objective on shares of Consensus Cloud Solutions from $23.00 to $27.00 and gave the company an “outperform” rating in a research report on Friday. Finally, JPMorgan Chase & Co. cut shares of Consensus Cloud Solutions from a “neutral” rating to an “underweight” rating and lifted their target price for the stock from $19.00 to $21.00 in a report on Monday, September 9th. Two equities research analysts have rated the stock with a sell rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $26.00.

Consensus Cloud Solutions Company Profile

Consensus Cloud Solutions, Inc, together with its subsidiaries, provides information delivery services with a software-as-a-service platform worldwide. The company offers eFax Corporate, a digital cloud-fax technology; Unite, a single platform that allows the user to choose between various protocols to send and receive healthcare information and can integrate into an existing electronic health record system or stand-alone if no EHR is present.