William Blair Has Optimistic Outlook of CBIZ FY2024 Earnings

CBIZ, Inc. (NYSE:CBZ) – Equities researchers at William Blair raised their FY2024 earnings estimates for shares of CBIZ in a research report issued to clients and investors on Tuesday, October 29th. William Blair analyst A. Nicholas now anticipates that the business services provider will earn $2.65 per share for the year, up from their previous forecast of $2.64. The consensus estimate for CBIZ’s current full-year earnings is $2.64 per share. William Blair also issued estimates for CBIZ’s Q4 2024 earnings at ($0.23) EPS and FY2025 earnings at $2.95 EPS.

CBIZ (NYSE:CBZ) last released its earnings results on Tuesday, October 29th. The business services provider reported $0.84 EPS for the quarter, beating the consensus estimate of $0.76 by $0.08. The firm had revenue of $438.90 million during the quarter, compared to analysts’ expectations of $440.16 million. CBIZ had a net margin of 7.08% and a return on equity of 15.47%. The business’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.66 EPS.

A number of other equities analysts have also recently issued reports on CBZ. StockNews.com cut shares of CBIZ from a “hold” rating to a “sell” rating in a research note on Thursday, September 5th. Sidoti upgraded shares of CBIZ from a “neutral” rating to a “buy” rating and increased their price objective for the company from $80.00 to $86.00 in a research note on Monday, August 12th.

CBIZ Trading Down 2.8 %

Shares of CBZ stock opened at $68.93 on Friday. CBIZ has a 52-week low of $51.16 and a 52-week high of $86.36. The stock has a market cap of $3.46 billion, a price-to-earnings ratio of 29.21 and a beta of 0.92. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.48 and a current ratio of 1.48. The firm has a fifty day moving average of $67.89 and a 200-day moving average of $72.86.

Institutional Investors Weigh In On CBIZ

Several large investors have recently made changes to their positions in CBZ. Quest Partners LLC grew its holdings in shares of CBIZ by 2,980.0% in the 2nd quarter. Quest Partners LLC now owns 462 shares of the business services provider’s stock worth $34,000 after purchasing an additional 447 shares during the last quarter. Whittier Trust Co. bought a new stake in shares of CBIZ in the 1st quarter worth about $54,000. Covestor Ltd grew its holdings in shares of CBIZ by 45.5% in the 1st quarter. Covestor Ltd now owns 707 shares of the business services provider’s stock worth $56,000 after purchasing an additional 221 shares during the last quarter. Signaturefd LLC grew its holdings in shares of CBIZ by 55.8% in the 3rd quarter. Signaturefd LLC now owns 961 shares of the business services provider’s stock worth $65,000 after purchasing an additional 344 shares during the last quarter. Finally, Picton Mahoney Asset Management bought a new stake in shares of CBIZ in the 2nd quarter worth about $82,000. Institutional investors own 87.44% of the company’s stock.

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.