Bright Horizons Family Solutions (NYSE:BFAM) Releases FY24 Earnings Guidance

Bright Horizons Family Solutions (NYSE:BFAM) issued an update on its FY24 earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of $3.37-$3.42 for the period, compared to the consensus estimate of $3.36. The company issued revenue guidance of $2.675 billion, compared to the consensus revenue estimate of $2.68 billion. Bright Horizons Family Solutions also updated its FY 2024 guidance to 3.370-3.420 EPS.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Barclays upped their price target on shares of Bright Horizons Family Solutions from $125.00 to $160.00 and gave the stock an “overweight” rating in a research report on Friday, August 30th. Robert W. Baird boosted their price objective on Bright Horizons Family Solutions from $131.00 to $140.00 and gave the stock a “neutral” rating in a research report on Tuesday. The Goldman Sachs Group increased their price target on Bright Horizons Family Solutions from $125.00 to $142.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Morgan Stanley boosted their price target on shares of Bright Horizons Family Solutions from $100.00 to $108.00 and gave the stock an “underweight” rating in a research report on Tuesday. Finally, JPMorgan Chase & Co. upped their price objective on Bright Horizons Family Solutions from $119.00 to $137.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Bright Horizons Family Solutions currently has a consensus rating of “Hold” and an average target price of $136.75.

Bright Horizons Family Solutions Price Performance

Shares of NYSE BFAM traded down $10.11 during mid-day trading on Tuesday, reaching $122.72. The company had a trading volume of 130,814 shares, compared to its average volume of 353,875. Bright Horizons Family Solutions has a 1-year low of $80.29 and a 1-year high of $141.90. The stock has a market cap of $7.12 billion, a PE ratio of 71.00 and a beta of 1.49. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 0.73. The company has a 50-day moving average price of $136.30 and a two-hundred day moving average price of $122.20.

Insiders Place Their Bets

In other Bright Horizons Family Solutions news, Director Mary Ann Tocio sold 2,500 shares of the firm’s stock in a transaction dated Thursday, August 8th. The shares were 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 $3,961,549.01. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, Director Mary Ann Tocio sold 2,500 shares of the firm’s 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 sale, the director now owns 30,257 shares of the company’s stock, valued at $3,961,549.01. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, COO Mary Lou Burke sold 800 shares of Bright Horizons Family Solutions stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $140.65, for a total value of $112,520.00. Following the transaction, the chief operating officer now owns 31,825 shares in the company, valued at $4,476,186.25. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 4,100 shares of company stock worth $549,397. Company insiders own 1.22% of the company’s stock.

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.