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

Bright Horizons Family Solutions (NYSE:BFAM) updated its FY 2024 earnings guidance on Thursday. The company provided EPS guidance of 3.300-3.400 for the period, compared to the consensus EPS estimate of 3.140. 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 $3.30-3.40 EPS.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft raised their price target on shares of Bright Horizons Family Solutions from $114.00 to $140.00 and gave the stock a hold rating in a research note on Friday. JPMorgan Chase & Co. upped their price target on Bright Horizons Family Solutions from $119.00 to $137.00 and gave the company an overweight rating in a research report on Friday. BMO Capital Markets lifted their price objective on Bright Horizons Family Solutions from $104.00 to $122.00 and gave the stock a market perform rating in a research report on Friday. The Goldman Sachs Group boosted their price objective on Bright Horizons Family Solutions from $125.00 to $142.00 and gave the stock a buy rating in a research note on Friday. Finally, StockNews.com upgraded Bright Horizons Family Solutions from a sell rating to a hold rating in a report on Friday, May 3rd. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of Hold and an average target price of $128.43.

Bright Horizons Family Solutions Trading Up 14.1 %

Shares of NYSE BFAM traded up $16.72 during mid-day trading on Friday, reaching $135.15. 1,596,166 shares of the company’s stock were exchanged, compared to its average volume of 310,371. The company’s 50-day moving average is $110.98 and its 200-day moving average is $109.29. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.51 and a current ratio of 0.51. The firm has a market capitalization of $7.84 billion, a price-to-earnings ratio of 95.18, a PEG ratio of 4.44 and a beta of 1.45. Bright Horizons Family Solutions has a 52-week low of $71.65 and a 52-week high of $136.22.

Bright Horizons Family Solutions (NYSE:BFAM) last announced its earnings results on Thursday, August 1st. The company reported $0.88 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.15. The company had revenue of $670.10 million during the quarter, compared to analyst estimates of $666.17 million. Bright Horizons Family Solutions had a net margin of 3.98% and a return on equity of 13.08%. Bright Horizons Family Solutions’s revenue was up 11.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.54 earnings per share. Analysts expect that Bright Horizons Family Solutions will post 2.76 EPS for the current fiscal year.

Insider Buying and Selling at Bright Horizons Family Solutions

In related news, CEO Stephen Howard Kramer sold 11,250 shares of the stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $113.95, for a total transaction of $1,281,937.50. Following the transaction, the chief executive officer now owns 122,573 shares of the company’s stock, valued at approximately $13,967,193.35. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other Bright Horizons Family Solutions news, COO Mary Lou Burke sold 1,000 shares of the business’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $120.00, for a total value of $120,000.00. Following the completion of the transaction, the chief operating officer now owns 35,925 shares in the company, valued at $4,311,000. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Stephen Howard Kramer sold 11,250 shares of the stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $113.95, for a total value of $1,281,937.50. Following the completion of the sale, the chief executive officer now owns 122,573 shares in the company, valued at $13,967,193.35. The disclosure for this sale can be found here. Insiders have sold a total of 28,447 shares of company stock valued at $3,186,710 over the last quarter. 1.22% of the stock is owned by company insiders.

About Bright Horizons Family Solutions

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.