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

CBIZ (NYSE:CBZ) issued its earnings results on Thursday. The business services provider reported $1.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.57 by ($0.03), Briefing.com reports. The firm had revenue of $494.30 million during the quarter, compared to analysts’ expectations of $490.88 million. CBIZ had a return on equity of 15.79% and a net margin of 7.65%. The business’s revenue was up 8.7% on a year-over-year basis. During the same quarter last year, the business earned $1.46 EPS. 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

Shares of CBZ opened at $72.75 on Friday. The business’s 50-day moving average is $75.72 and its two-hundred day moving average is $65.09. The company has a market capitalization of $3.65 billion, a P/E ratio of 29.45 and a beta of 0.83. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.20 and a current ratio of 1.20. CBIZ has a fifty-two week low of $49.13 and a fifty-two week high of $79.55.

Analyst Ratings Changes

A number of equities analysts recently issued reports on CBZ shares. StockNews.com lowered CBIZ from a “hold” rating to a “sell” rating in a research note on Friday. Sidoti lowered CBIZ from a “buy” rating to a “neutral” rating and set a $63.00 target price for the company. 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.