CBIZ (NYSE:CBZ) Issues FY24 Earnings Guidance

CBIZ (NYSE:CBZ) updated its FY24 earnings guidance on Thursday. 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.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. StockNews.com downgraded CBIZ from a hold rating to a sell rating in a report on Friday. Sidoti cut shares of CBIZ from a buy rating to a neutral rating and set a $63.00 price objective for the company. in a research note on Tuesday, January 2nd.

CBIZ Price Performance

Shares of CBZ traded down $2.77 on Friday, reaching $72.76. The stock had a trading volume of 321,086 shares, compared to its average volume of 269,704. CBIZ has a twelve month low of $49.13 and a twelve month high of $79.55. The firm has a market capitalization of $3.65 billion, a PE ratio of 29.46 and a beta of 0.83. The firm has a 50-day moving average of $75.74 and a 200 day moving average of $65.22. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.39.

CBIZ (NYSE:CBZ) last posted its earnings results on Thursday, April 25th. The business services provider reported $1.54 EPS for the quarter, missing analysts’ consensus estimates of $1.57 by ($0.03). CBIZ had a return on equity of 15.79% and a net margin of 7.65%. The firm had revenue of $494.30 million for the quarter, compared to analysts’ expectations of $490.88 million. During the same quarter in the previous year, the firm posted $1.46 earnings per share. The firm’s revenue for the quarter was up 8.7% compared to the same quarter last year. Sell-side analysts expect that CBIZ will post 2.74 EPS for the current year.

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.