CBIZ (NYSE:CBZ) Releases FY24 Earnings Guidance

CBIZ (NYSE:CBZ) updated its FY24 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $2.64-$2.69 for the period, compared to the consensus estimate of $2.52. The company issued revenue guidance of $1.70-$1.73 billion, compared to the consensus revenue estimate of $1.71 billion. CBIZ also updated its FY 2024 guidance to 2.640-2.690 EPS.

CBIZ Stock Down 0.3 %

NYSE:CBZ traded down $0.23 during trading hours on Wednesday, hitting $70.84. 200,221 shares of the company traded hands, compared to its average volume of 313,438. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.43. The company has a market cap of $3.56 billion, a PE ratio of 30.44 and a beta of 0.92. The firm’s 50-day simple moving average is $67.91 and its 200-day simple moving average is $72.87. CBIZ has a one year low of $51.16 and a one year high of $86.36.

CBIZ (NYSE:CBZ) last released its quarterly earnings results on Tuesday, October 29th. The business services provider reported $0.84 earnings per share for the quarter, beating analysts’ consensus estimates of $0.76 by $0.08. CBIZ had a net margin of 7.12% and a return on equity of 14.58%. The company had revenue of $438.90 million for the quarter, compared to analyst estimates of $440.16 million. During the same period last year, the firm earned $0.66 earnings per share. The firm’s revenue was up 6.9% on a year-over-year basis. Equities analysts predict that CBIZ will post 2.64 earnings per share for the current year.

Wall Street Analyst Weigh In

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

About CBIZ

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.