CBIZ (NYSE:CBZ) Issues Quarterly Earnings Results, Beats Expectations By $0.08 EPS

CBIZ (NYSE:CBZ) issued its quarterly earnings results on Tuesday. The business services provider reported $0.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.08, Briefing.com reports. CBIZ had a return on equity of 14.58% and a net margin of 7.12%. The company had revenue of $438.90 million for the quarter, compared to analysts’ expectations of $440.16 million. During the same period last year, the firm earned $0.66 EPS. The firm’s revenue for the quarter was up 6.9% on a year-over-year basis. CBIZ updated its FY 2024 guidance to 2.640-2.690 EPS and its FY24 guidance to $2.64-$2.69 EPS.

CBIZ Stock Performance

CBZ traded down $0.15 on Wednesday, hitting $70.92. 152,747 shares of the stock traded hands, compared to its average volume of 313,171. CBIZ has a 52 week low of $51.16 and a 52 week high of $86.36. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.43. The firm has a market capitalization of $3.56 billion, a PE ratio of 30.50 and a beta of 0.92. The business has a fifty day moving average price of $67.91 and a two-hundred day moving average price of $72.87.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Sidoti upgraded 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 report 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.