Bright Horizons Family Solutions (NYSE:BFAM) Releases FY 2024 Earnings Guidance

Bright Horizons Family Solutions (NYSE:BFAM) issued an update on its FY 2024 earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of 3.370-3.420 for the period, compared to the consensus estimate of 3.360. The company issued revenue guidance of $2.7 billion-$2.7 billion, compared to the consensus revenue estimate of $2.7 billion. Bright Horizons Family Solutions also updated its FY24 guidance to $3.37-$3.42 EPS.

Bright Horizons Family Solutions Trading Down 11.2 %

BFAM traded down $14.94 during trading on Tuesday, reaching $117.89. The company had a trading volume of 453,746 shares, compared to its average volume of 355,384. Bright Horizons Family Solutions has a 12-month low of $80.29 and a 12-month high of $141.90. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.56 and a current ratio of 0.56. The company has a market cap of $6.84 billion, a price-to-earnings ratio of 68.43 and a beta of 1.49. The firm’s 50-day simple moving average is $136.30 and its 200 day simple moving average is $122.20.

Analyst Ratings Changes

Several research firms have issued reports on BFAM. Deutsche Bank Aktiengesellschaft increased their price objective on Bright Horizons Family Solutions from $114.00 to $140.00 and gave the stock a “hold” rating in a research note on Friday, August 2nd. Barclays raised their target price on Bright Horizons Family Solutions from $125.00 to $160.00 and gave the stock an “overweight” rating in a report on Friday, August 30th. JPMorgan Chase & Co. upped their target price on shares of Bright Horizons Family Solutions from $137.00 to $149.00 and gave the company an “overweight” rating in a research note on Tuesday. The Goldman Sachs Group lifted their price target on shares of Bright Horizons Family Solutions from $142.00 to $162.00 and gave the stock a “buy” rating in a research report on Tuesday. Finally, BMO Capital Markets upped their price objective on shares of Bright Horizons Family Solutions from $104.00 to $122.00 and gave the company a “market perform” rating in a research report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $140.75.

Insider Activity

In related news, COO Mary Lou Burke sold 800 shares of the company’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $140.65, for a total transaction of $112,520.00. Following the completion of the sale, the chief operating officer now owns 31,825 shares of the company’s stock, valued at $4,476,186.25. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, Director Mary Ann Tocio sold 2,500 shares of the stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $130.93, for a total value of $327,325.00. Following the completion of the transaction, the director now directly owns 30,257 shares in the company, valued at approximately $3,961,549.01. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Mary Lou Burke sold 800 shares of Bright Horizons Family Solutions stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $140.65, for a total transaction of $112,520.00. Following the sale, the chief operating officer now owns 31,825 shares in the company, valued at approximately $4,476,186.25. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 4,100 shares of company stock valued at $549,397. 1.22% of the stock is owned by insiders.

Bright Horizons Family Solutions Company Profile

Bright Horizons Family Solutions Inc provides early education and childcare, back-up care, educational advisory, and other workplace solutions services for employers and families in the United States, Puerto Rico, the United Kingdom, the Netherlands, Australia, and India. The company operates in three segments: Full Service Center-Based Child Care, Back-Up Care, and Educational Advisory and Other Services.