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

Bright Horizons Family Solutions (NYSE:BFAM) updated its FY24 earnings guidance on Monday. The company provided earnings per share (EPS) guidance of $3.37-$3.42 for the period, compared to the consensus estimate of $3.36. The company issued revenue guidance of $2.675 billion, compared to the consensus revenue estimate of $2.68 billion. Bright Horizons Family Solutions also updated its FY 2024 guidance to 3.370-3.420 EPS.

Wall Street Analysts Forecast Growth

BFAM has been the subject of a number of research reports. Barclays lifted their target price on shares of Bright Horizons Family Solutions from $125.00 to $160.00 and gave the company an “overweight” rating in a research note on Friday, August 30th. Morgan Stanley lifted their target price on shares of Bright Horizons Family Solutions from $92.00 to $100.00 and gave the company an “underweight” rating in a research note on Wednesday, September 11th. Robert W. Baird lifted their target price on shares of Bright Horizons Family Solutions from $115.00 to $131.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. BMO Capital Markets lifted 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 note on Friday, August 2nd. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Bright Horizons Family Solutions from $119.00 to $137.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $134.63.

Bright Horizons Family Solutions Stock Performance

BFAM traded down $0.71 during trading on Monday, hitting $132.83. The stock had a trading volume of 750,557 shares, compared to its average volume of 354,923. The firm has a market cap of $7.71 billion, a PE ratio of 76.34 and a beta of 1.49. Bright Horizons Family Solutions has a 12 month low of $80.29 and a 12 month high of $141.90. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 0.73. The company has a 50 day simple moving average of $136.39 and a 200-day simple moving average of $122.00.

Bright Horizons Family Solutions (NYSE:BFAM) last announced its earnings results on Thursday, August 1st. The company reported $0.88 EPS for the quarter, topping the consensus estimate of $0.73 by $0.15. The firm had revenue of $670.10 million for the quarter, compared to the consensus estimate of $666.17 million. Bright Horizons Family Solutions had a net margin of 3.98% and a return on equity of 12.86%. The business’s quarterly revenue was up 11.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.54 EPS. Analysts expect that Bright Horizons Family Solutions will post 2.98 EPS for the current year.

Insider Buying and Selling

In other news, Director Mary Ann Tocio sold 2,500 shares of the business’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $130.93, for a total transaction of $327,325.00. Following the transaction, the director now owns 30,257 shares in the company, valued at approximately $3,961,549.01. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, Director Mary Ann Tocio sold 2,500 shares of the business’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $130.93, for a total transaction of $327,325.00. Following the transaction, the director now owns 30,257 shares in the company, valued at approximately $3,961,549.01. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Mary Lou Burke sold 800 shares of the business’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $136.94, for a total transaction of $109,552.00. Following the transaction, the chief operating officer now owns 31,025 shares in the company, valued at approximately $4,248,563.50. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 4,100 shares of company stock worth $549,397 in the last quarter. 1.22% of the stock is currently owned by company insiders.

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.