CBIZ (NYSE:CBZ) Updates FY 2024 Earnings Guidance

CBIZ (NYSE:CBZ) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided earnings per share guidance of 2.640-2.690 for the period, compared to the consensus earnings per share estimate of 2.640. The company issued revenue guidance of $1.7 billion-$1.7 billion, compared to the consensus revenue estimate of $2.1 billion. CBIZ also updated its FY24 guidance to $2.64-$2.69 EPS.

CBIZ Trading Down 2.8 %

Shares of CBZ stock opened at $68.93 on Friday. The firm’s 50-day simple moving average is $67.89 and its 200-day simple moving average is $72.86. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.48 and a quick ratio of 1.48. CBIZ has a 1-year low of $51.16 and a 1-year high of $86.36. The firm has a market cap of $3.46 billion, a P/E ratio of 29.21 and a beta of 0.92.

CBIZ (NYSE:CBZ) last announced 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 7.08% and a return on equity of 15.47%. The company had revenue of $438.90 million for the quarter, compared to analyst estimates of $440.16 million. During the same quarter last year, the business earned $0.66 EPS. CBIZ’s revenue for the quarter was up 6.9% on a year-over-year basis. As a group, equities analysts forecast that CBIZ will post 2.64 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have commented on CBZ shares. Sidoti upgraded CBIZ from a “neutral” rating to a “buy” rating and upped their price target for the stock from $80.00 to $86.00 in a research note on Monday, August 12th. StockNews.com downgraded shares of 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.