CBIZ (NYSE:CBZ) Updates FY 2024 Earnings Guidance

CBIZ (NYSE:CBZ) updated its FY 2024 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of 2.640-2.690 for the period, compared to the consensus estimate of 2.640. The company issued revenue guidance of $1.7 billion-$1.7 billion, compared to the consensus revenue estimate of $2.1 billion. CBIZ also updated its FY24 guidance to $2.64-$2.69 EPS.

CBIZ Price Performance

CBIZ stock traded up $0.05 during mid-day trading on Wednesday, reaching $71.12. 170,654 shares of the company were exchanged, compared to its average volume of 313,266. The company has a fifty day simple moving average of $67.91 and a 200-day simple moving average of $72.87. The firm has a market cap of $3.57 billion, a PE ratio of 30.44 and a beta of 0.92. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.48 and a quick ratio of 1.48. CBIZ has a 12 month low of $51.16 and a 12 month high of $86.36.

CBIZ (NYSE:CBZ) last issued its quarterly earnings results on Tuesday, October 29th. The business services provider reported $0.84 EPS for the quarter, topping analysts’ consensus estimates of $0.76 by $0.08. CBIZ had a return on equity of 14.58% and a net margin of 7.12%. The company had revenue of $438.90 million for the quarter, compared to analysts’ expectations of $440.16 million. During the same quarter last year, the business earned $0.66 earnings per share. CBIZ’s revenue was up 6.9% on a year-over-year basis. As a group, equities research analysts expect that CBIZ will post 2.64 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Sidoti upgraded shares of CBIZ from a “neutral” rating to a “buy” rating and increased their price target for the stock from $80.00 to $86.00 in a research report on Monday, August 12th. StockNews.com cut CBIZ from a “hold” rating to a “sell” rating in a report on Thursday, September 5th.

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.