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

Bright Horizons Family Solutions (NYSE:BFAM) updated its FY24 earnings guidance on Thursday. The company provided earnings per share guidance of $3.30-3.40 for the period, compared to the consensus earnings per share estimate of $3.14. The company issued revenue guidance of $2.65-2.70 billion, compared to the consensus revenue estimate of $2.67 billion. Bright Horizons Family Solutions also updated its FY 2024 guidance to 3.300-3.400 EPS.

Bright Horizons Family Solutions Stock Performance

NYSE:BFAM traded up $16.72 during mid-day trading on Friday, reaching $135.15. The company’s stock had a trading volume of 1,596,166 shares, compared to its average volume of 310,371. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.76. The stock has a market cap of $7.84 billion, a P/E ratio of 95.18, a PEG ratio of 4.44 and a beta of 1.45. The firm’s fifty day moving average price is $110.98 and its two-hundred day moving average price is $109.21. Bright Horizons Family Solutions has a 12-month low of $71.65 and a 12-month high of $136.22.

Bright Horizons Family Solutions (NYSE:BFAM) last released its quarterly earnings data on Thursday, August 1st. The company reported $0.88 earnings per share for the quarter, beating the consensus estimate of $0.73 by $0.15. Bright Horizons Family Solutions had a net margin of 3.98% and a return on equity of 13.08%. The firm had revenue of $670.10 million during the quarter, compared to analysts’ expectations of $666.17 million. During the same period in the previous year, the company earned $0.54 earnings per share. The firm’s quarterly revenue was up 11.1% on a year-over-year basis. On average, equities analysts forecast that Bright Horizons Family Solutions will post 2.76 EPS for the current fiscal year.

Analysts Set New Price Targets

BFAM has been the subject of several research analyst reports. StockNews.com raised Bright Horizons Family Solutions from a sell rating to a hold rating in a report on Friday, May 3rd. The Goldman Sachs Group increased their price objective on shares of Bright Horizons Family Solutions from $125.00 to $142.00 and gave the stock a buy rating in a research note on Friday. JPMorgan Chase & Co. boosted their target price on shares of Bright Horizons Family Solutions from $119.00 to $137.00 and gave the company an overweight rating in a research report on Friday. Robert W. Baird increased their price target on shares of Bright Horizons Family Solutions from $115.00 to $131.00 and gave the stock a neutral rating in a research report on Friday. Finally, BMO Capital Markets boosted their price objective on shares of Bright Horizons Family Solutions from $104.00 to $122.00 and gave the company a market perform rating in a research report on Friday. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, Bright Horizons Family Solutions currently has an average rating of Hold and an average price target of $128.43.

Insider Transactions at Bright Horizons Family Solutions

In other news, COO Mary Lou Burke sold 800 shares of the business’s stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $106.42, for a total value of $85,136.00. Following the transaction, the chief operating officer now directly owns 37,725 shares in the company, valued at $4,014,694.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Bright Horizons Family Solutions news, CEO Stephen Howard Kramer sold 11,250 shares of the business’s 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 sale, the chief executive officer now owns 122,573 shares in the company, valued at approximately $13,967,193.35. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Mary Lou Burke sold 800 shares of the stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $106.42, for a total transaction of $85,136.00. Following the transaction, the chief operating officer now directly owns 37,725 shares of the company’s stock, valued at approximately $4,014,694.50. The disclosure for this sale can be found here. Insiders sold a total of 28,447 shares of company stock valued at $3,186,710 over the last three months. Corporate 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.