Dayforce Inc (NYSE:DAY) Forecasted to Post Q2 2024 Earnings of $0.24 Per Share

Dayforce Inc (NYSE:DAY) – Equities research analysts at William Blair issued their Q2 2024 EPS estimates for Dayforce in a report released on Thursday, May 2nd. William Blair analyst J. Roberge anticipates that the company will earn $0.24 per share for the quarter. William Blair has a “Outperform” rating on the stock. The consensus estimate for Dayforce’s current full-year earnings is $0.89 per share. William Blair also issued estimates for Dayforce’s Q3 2024 earnings at $0.25 EPS, Q4 2024 earnings at $0.25 EPS, FY2024 earnings at $0.99 EPS, Q1 2025 earnings at $0.30 EPS, Q2 2025 earnings at $0.24 EPS, Q3 2025 earnings at $0.27 EPS, Q4 2025 earnings at $0.27 EPS and FY2025 earnings at $1.09 EPS.

A number of other brokerages have also recently weighed in on DAY. BMO Capital Markets reduced their price objective on Dayforce from $82.00 to $75.00 and set an “outperform” rating for the company in a research note on Monday. Mizuho reduced their price target on shares of Dayforce from $95.00 to $80.00 and set a “buy” rating for the company in a research report on Monday. Needham & Company LLC reissued a “buy” rating and set a $82.00 price objective on shares of Dayforce in a research report on Thursday, May 2nd. Piper Sandler reduced their target price on shares of Dayforce from $75.00 to $68.00 and set a “neutral” rating for the company in a report on Thursday, May 2nd. Finally, Barclays lowered their price target on Dayforce from $74.00 to $62.00 and set an “equal weight” rating on the stock in a report on Thursday, May 2nd. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $73.40.

Dayforce Price Performance

NYSE DAY opened at $59.18 on Monday. The company has a fifty day moving average of $63.86. The firm has a market capitalization of $9.34 billion, a P/E ratio of 179.34, a PEG ratio of 3.89 and a beta of 1.30. Dayforce has a 1 year low of $54.25 and a 1 year high of $75.53. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.50.

Dayforce (NYSE:DAY) last announced its quarterly earnings results on Wednesday, February 7th. The company reported $0.38 EPS for the quarter, topping the consensus estimate of $0.12 by $0.26. Dayforce had a net margin of 3.30% and a return on equity of 5.38%. The firm had revenue of $399.70 million for the quarter, compared to analyst estimates of $400.14 million.

Insider Buying and Selling

In other news, COO Christopher R. Armstrong sold 60,000 shares of Dayforce stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $69.14, for a total transaction of $4,148,400.00. Following the completion of the sale, the chief operating officer now directly owns 149,319 shares in the company, valued at approximately $10,323,915.66. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 4.90% of the stock is owned by insiders.

Dayforce Company Profile

Dayforce Inc, together with its subsidiaries, operates as a human capital management (HCM) software company in the United States, Canada, and internationally. It offers Dayforce, a cloud HCM platform that provides human resources, payroll and tax, workforce management, wallet, benefits, and talent intelligence functionalities; and Powerpay, a cloud HR and payroll solution for the small business market.