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

Consensus Cloud Solutions (NASDAQ:CCSIGet Free Report) 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 Analysts Forecast Growth

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

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Consensus Cloud Solutions Stock Performance

Shares of NASDAQ CCSI traded down $0.53 during trading on Thursday, hitting $26.08. The company had a trading volume of 178,526 shares, compared to its average volume of 238,033. The stock has a 50 day simple moving average of $22.37 and a 200 day simple moving average of $19.69. The firm has a market capitalization of $503.34 million, a P/E 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:CCSIGet Free Report) last issued 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 business had revenue of $87.50 million for 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%. As a group, analysts predict that Consensus Cloud Solutions will post 4.86 EPS for the current year.

Consensus Cloud Solutions Company Profile

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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.

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