CBIZ (NYSE:CBZ) Updates FY 2024 Earnings Guidance

CBIZ (NYSE:CBZ) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided earnings per share guidance of 2.700-2.750 for the period, compared to the consensus earnings per share estimate of 2.720. The company issued revenue guidance of $1.7 billion-$1.7 billion, compared to the consensus revenue estimate of $1.7 billion. CBIZ also updated its FY24 guidance to $2.70 to $2.75 EPS.

CBIZ Trading Down 3.7 %

Shares of CBIZ stock traded down $2.77 on Friday, reaching $72.76. 321,086 shares of the company were exchanged, compared to its average volume of 269,704. The stock has a fifty day moving average price of $75.72 and a 200-day moving average price of $65.09. The firm has a market capitalization of $3.65 billion, a price-to-earnings ratio of 29.46 and a beta of 0.83. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 0.39. CBIZ has a fifty-two week low of $49.13 and a fifty-two week high of $79.55.

CBIZ (NYSE:CBZ) last posted its quarterly earnings results on Thursday, April 25th. The business services provider reported $1.54 earnings per share for the quarter, missing the consensus estimate of $1.57 by ($0.03). The business had revenue of $494.30 million for the quarter, compared to analyst estimates of $490.88 million. CBIZ had a net margin of 7.65% and a return on equity of 15.79%. The firm’s quarterly revenue was up 8.7% on a year-over-year basis. During the same period in the previous year, the firm posted $1.46 earnings per share. On average, analysts expect that CBIZ will post 2.74 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on CBZ. StockNews.com lowered CBIZ from a hold rating to a sell rating in a research report on Friday. Sidoti downgraded 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.

CBIZ Company Profile

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.