Bright Horizons Family Solutions (NYSE:BFAM) Releases Quarterly Earnings Results, Beats Estimates By $0.05 EPS

Bright Horizons Family Solutions (NYSE:BFAM) released its quarterly earnings results on Monday. The company reported $1.11 earnings per share for the quarter, beating the consensus estimate of $1.06 by $0.05, Briefing.com reports. The company had revenue of $719.00 million for the quarter, compared to analyst estimates of $713.16 million. Bright Horizons Family Solutions had a return on equity of 12.86% and a net margin of 3.98%. Bright Horizons Family Solutions’s quarterly revenue was up 11.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.78 EPS. Bright Horizons Family Solutions updated its FY24 guidance to $3.37-$3.42 EPS and its FY 2024 guidance to 3.370-3.420 EPS.

Bright Horizons Family Solutions Stock Down 1.7 %

Shares of NYSE:BFAM traded down $1.94 during trading hours on Thursday, hitting $114.45. The company’s stock had a trading volume of 502,131 shares, compared to its average volume of 365,367. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.56 and a quick ratio of 0.56. The firm’s fifty day moving average price is $135.42 and its 200 day moving average price is $122.24. Bright Horizons Family Solutions has a 52 week low of $80.29 and a 52 week high of $141.90. The company has a market capitalization of $6.64 billion, a price-to-earnings ratio of 66.84 and a beta of 1.49.

Analyst Ratings Changes

BFAM has been the topic of several recent analyst reports. Robert W. Baird increased their target price on shares of Bright Horizons Family Solutions from $131.00 to $140.00 and gave the company a “neutral” rating in a research note on Tuesday. UBS Group increased their price objective on shares of Bright Horizons Family Solutions from $145.00 to $148.00 and gave the stock a “neutral” rating in a research report on Tuesday. JPMorgan Chase & Co. boosted their target price on Bright Horizons Family Solutions from $137.00 to $149.00 and gave the company an “overweight” rating in a research report on Tuesday. The Goldman Sachs Group boosted their price objective on Bright Horizons Family Solutions from $142.00 to $162.00 and gave the company a “buy” rating in a report on Tuesday. Finally, Morgan Stanley lifted their target price on Bright Horizons Family Solutions from $100.00 to $108.00 and gave the stock an “underweight” rating in a research report on Tuesday. One analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $141.13.

Insider Activity at Bright Horizons Family Solutions

In other Bright Horizons Family Solutions news, COO Mary Lou Burke sold 800 shares of the company’s stock in a transaction on Monday, October 7th. The stock was sold at an average price of $136.94, for a total transaction of $109,552.00. Following the completion of the sale, the chief operating officer now owns 31,025 shares in the company, valued at $4,248,563.50. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.22% of the stock is currently owned by corporate 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.