CBIZ (NYSE:CBZ) Updates FY 2024 Earnings Guidance

CBIZ (NYSE:CBZ) updated its FY 2024 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of 2.640-2.690 for the period, compared to the consensus estimate of 2.640. The company issued revenue guidance of $1.7 billion-$1.7 billion, compared to the consensus revenue estimate of $2.1 billion.

CBIZ Price Performance

CBZ opened at $66.88 on Tuesday. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.48 and a quick ratio of 1.48. The stock has a market capitalization of $3.36 billion, a P/E ratio of 28.70 and a beta of 0.92. The company’s 50 day simple moving average is $67.91 and its 200-day simple moving average is $72.89. CBIZ has a one year low of $50.64 and a one year high of $86.36.

CBIZ (NYSE:CBZ) last announced its quarterly earnings data on Thursday, August 1st. The business services provider reported $0.39 EPS for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.29). The firm had revenue of $420.00 million during the quarter, compared to the consensus estimate of $430.38 million. CBIZ had a net margin of 7.12% and a return on equity of 14.58%. The firm’s quarterly revenue was up 5.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.55 earnings per share. Sell-side analysts anticipate that CBIZ will post 2.64 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have commented on CBZ. Sidoti raised shares of CBIZ from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $80.00 to $86.00 in a report on Monday, August 12th. StockNews.com cut CBIZ from a “hold” rating to a “sell” rating in a research note on Thursday, September 5th.

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.