Consensus Cloud Solutions (NASDAQ:CCSI) Updates FY 2024 Earnings Guidance

Consensus Cloud Solutions (NASDAQ:CCSI) updated its FY 2024 earnings guidance on Thursday. The company provided EPS guidance of 5.450-5.550 for the period, compared to the consensus EPS estimate of 5.500. The company issued revenue guidance of $346.0 million-$350.0 million, compared to the consensus revenue estimate of $344.1 million. Consensus Cloud Solutions also updated its Q4 2024 guidance to 1.140-1.240 EPS.

Wall Street Analyst Weigh In

CCSI has been the subject of several research reports. BTIG Research upgraded shares of Consensus Cloud Solutions from a “neutral” rating to a “buy” rating and set a $30.00 price target for the company in a research note on Wednesday, August 21st. JPMorgan Chase & Co. lowered shares of Consensus Cloud Solutions from a “neutral” rating to an “underweight” rating and lifted their target price for the company from $19.00 to $21.00 in a report on Monday, September 9th. Finally, Oppenheimer boosted their price target on Consensus Cloud Solutions from $20.00 to $23.00 and gave the stock an “outperform” rating in a research report on Friday, August 9th. Two investment analysts have rated the stock with a sell rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $23.60.

Consensus Cloud Solutions Trading Down 2.0 %

NASDAQ:CCSI traded down $0.53 on Thursday, reaching $26.08. 178,526 shares of the stock traded hands, compared to its average volume of 238,033. The company’s fifty day simple moving average is $22.37 and its 200 day simple moving average is $19.69. The company has a market capitalization of $503.34 million, a price-to-earnings ratio of 5.57 and a beta of 1.38. Consensus Cloud Solutions has a 12 month low of $11.62 and a 12 month high of $28.09.

Consensus Cloud Solutions (NASDAQ:CCSI) last announced its quarterly earnings results on Thursday, August 8th. The company reported $1.26 earnings per share for the quarter, beating the consensus estimate of $1.11 by $0.15. The company had revenue of $87.50 million during the quarter, compared to the consensus estimate of $87.10 million. Consensus Cloud Solutions had a net margin of 25.72% and a negative return on equity of 57.77%. Equities analysts anticipate that Consensus Cloud Solutions will post 4.86 EPS for the current fiscal year.

About Consensus Cloud Solutions

Consensus Cloud Solutions, Inc, together with its subsidiaries, provides information delivery services with a software-as-a-service platform worldwide. The company offers eFax Corporate, a digital cloud-fax technology; Unite, a single platform that allows the user to choose between various protocols to send and receive healthcare information and can integrate into an existing electronic health record system or stand-alone if no EHR is present.