CBIZ (NYSE:CBZ) Releases FY24 Earnings Guidance

CBIZ (NYSE:CBZ) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $2.70 to $2.75 for the period, compared to the consensus estimate of $2.72. The company issued revenue guidance of +7 to +9% yr/yr or $1.703 billion to $1.734 billion, compared to the consensus revenue estimate of $1.72 billion. CBIZ also updated its FY 2024 guidance to 2.700-2.750 EPS.

CBIZ Stock Down 3.7 %

Shares of CBZ traded down $2.78 during mid-day trading on Friday, reaching $72.75. 321,086 shares of the stock traded hands, compared to its average volume of 309,995. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.39. The stock has a fifty day simple moving average of $75.72 and a 200 day simple moving average of $65.09. The firm has a market cap of $3.65 billion, a price-to-earnings ratio of 30.57 and a beta of 0.83. CBIZ has a 12-month low of $49.13 and a 12-month high of $79.55.

CBIZ (NYSE:CBZ) last issued its quarterly earnings results on Thursday, April 25th. The business services provider reported $1.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.57 by ($0.03). The company had revenue of $494.30 million during the quarter, compared to the consensus estimate of $490.88 million. CBIZ had a return on equity of 15.49% and a net margin of 7.60%. The firm’s quarterly revenue was up 8.7% on a year-over-year basis. During the same quarter last year, the firm posted $1.46 EPS. Sell-side analysts expect that CBIZ will post 2.74 EPS for the current fiscal year.

Analyst Ratings Changes

Separately, Sidoti lowered shares of CBIZ from a buy rating to a neutral rating and set a $63.00 price target for the company. in a research note on Tuesday, January 2nd.

About CBIZ

CBIZ, Inc provides financial, insurance, and advisory services in the United States and Canada. It operates through Financial Services, Benefits and Insurance Services, and National Practices segments. The Financial Services segment offers accounting and tax, financial advisory, valuation, risk and advisory, and government healthcare consulting services.