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

Bright Horizons Family Solutions (NYSE:BFAM) issued an update on its FY 2024 earnings guidance on Friday morning. The company provided earnings per share guidance of 3.000-3.200 for the period, compared to the consensus earnings per share estimate of 3.080. The company issued revenue guidance of $2.6 billion-$2.7 billion, compared to the consensus revenue estimate of $2.7 billion.

Bright Horizons Family Solutions Stock Performance

Bright Horizons Family Solutions stock traded up $3.29 during mid-day trading on Monday, hitting $114.52. The company had a trading volume of 759,599 shares, compared to its average volume of 344,130. The company has a market capitalization of $6.64 billion, a price-to-earnings ratio of 78.33, a P/E/G ratio of 4.28 and a beta of 1.38. Bright Horizons Family Solutions has a 12-month low of $71.65 and a 12-month high of $119.21. The company’s fifty day moving average is $111.11 and its 200-day moving average is $98.95. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 0.78.

Bright Horizons Family Solutions (NYSE:BFAM) last issued its quarterly earnings data on Tuesday, February 13th. The company reported $0.74 earnings per share for the quarter, topping analysts’ consensus estimates of $0.62 by $0.12. Bright Horizons Family Solutions had a net margin of 3.34% and a return on equity of 12.14%. The business had revenue of $615.65 million during the quarter, compared to the consensus estimate of $588.63 million. Equities research analysts predict that Bright Horizons Family Solutions will post 2.69 EPS for the current year.

Wall Street Analyst Weigh In

BFAM has been the topic of a number of research analyst reports. StockNews.com raised Bright Horizons Family Solutions from a sell rating to a hold rating in a research note on Friday. Barclays upgraded shares of Bright Horizons Family Solutions from an equal weight rating to an overweight rating and increased their target price for the company from $100.00 to $125.00 in a research report on Wednesday, February 28th. The Goldman Sachs Group raised their price target on shares of Bright Horizons Family Solutions from $108.00 to $123.00 and gave the stock a buy rating in a research note on Wednesday, April 10th. Robert W. Baird upped their price objective on shares of Bright Horizons Family Solutions from $105.00 to $115.00 and gave the company a neutral rating in a research note on Friday. Finally, JPMorgan Chase & Co. raised their target price on shares of Bright Horizons Family Solutions from $107.00 to $119.00 and gave the stock an overweight rating in a research note on Friday. One analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of Hold and an average price target of $106.63.

Insider Activity

In other news, COO Mary Lou Burke sold 1,500 shares of the company’s stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $105.00, for a total value of $157,500.00. Following the completion of the sale, the chief operating officer now directly owns 37,253 shares of the company’s stock, valued at $3,911,565. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Bright Horizons Family Solutions news, COO Mary Lou Burke sold 1,500 shares of Bright Horizons Family Solutions stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $105.00, for a total value of $157,500.00. Following the transaction, the chief operating officer now directly owns 37,253 shares in the company, valued at approximately $3,911,565. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Elizabeth J. Boland sold 15,640 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $113.77, for a total value of $1,779,362.80. Following the completion of the transaction, the chief financial officer now directly owns 89,983 shares in the company, valued at approximately $10,237,365.91. The disclosure for this sale can be found here. Corporate insiders own 1.28% of the company’s stock.

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.