Bright Horizons Family Solutions (NYSE:BFAM) Updates FY 2024 Earnings Guidance

Bright Horizons Family Solutions (NYSE:BFAM) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided EPS guidance of 3.300-3.400 for the period, compared to the consensus EPS estimate of 3.140. The company issued revenue guidance of $2.7 billion-$2.7 billion, compared to the consensus revenue estimate of $2.7 billion. Bright Horizons Family Solutions also updated its FY24 guidance to $3.30-3.40 EPS.

Analyst Upgrades and Downgrades

Several research firms have commented on BFAM. StockNews.com upgraded shares of Bright Horizons Family Solutions from a sell rating to a hold rating in a report on Friday, May 3rd. BMO Capital Markets upped their price target on shares of Bright Horizons Family Solutions from $102.00 to $104.00 and gave the company a market perform rating in a research note on Friday, May 3rd. The Goldman Sachs Group raised their price objective on shares of Bright Horizons Family Solutions from $108.00 to $123.00 and gave the stock a buy rating in a research report on Wednesday, April 10th. Robert W. Baird increased their target price on Bright Horizons Family Solutions from $105.00 to $115.00 and gave the stock a neutral rating in a research note on Friday, May 3rd. Finally, JPMorgan Chase & Co. boosted their price target on Bright Horizons Family Solutions from $107.00 to $119.00 and gave the company an overweight rating in a research note on Friday, May 3rd. One analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Bright Horizons Family Solutions has a consensus rating of Hold and a consensus price target of $107.43.

Bright Horizons Family Solutions Price Performance

Bright Horizons Family Solutions stock traded down $1.99 during mid-day trading on Thursday, reaching $118.26. 392,567 shares of the company were exchanged, compared to its average volume of 337,767. The firm has a market cap of $6.86 billion, a PE ratio of 83.03, a PEG ratio of 4.59 and a beta of 1.45. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.51 and a quick ratio of 0.51. The company has a fifty day simple moving average of $110.24 and a 200-day simple moving average of $108.89. Bright Horizons Family Solutions has a 12 month low of $71.65 and a 12 month high of $122.67.

Bright Horizons Family Solutions (NYSE:BFAM) last issued its quarterly earnings results on Thursday, May 2nd. The company reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.06. The company had revenue of $622.71 million for the quarter, compared to analysts’ expectations of $614.60 million. Bright Horizons Family Solutions had a return on equity of 12.00% and a net margin of 3.34%. As a group, equities research analysts expect that Bright Horizons Family Solutions will post 2.76 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Stephen Howard Kramer sold 11,250 shares of the firm’s stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $113.95, for a total value of $1,281,937.50. Following the sale, the chief executive officer now directly owns 122,573 shares of the company’s stock, valued at $13,967,193.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CAO Jason Janoff sold 6,000 shares of the stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $113.79, for a total value of $682,740.00. Following the completion of the sale, the chief accounting officer now directly owns 8,955 shares in the company, valued at $1,018,989.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Stephen Howard Kramer sold 11,250 shares of Bright Horizons Family Solutions stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $113.95, for a total value of $1,281,937.50. Following the completion of the transaction, the chief executive officer now directly owns 122,573 shares in the company, valued at $13,967,193.35. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 28,447 shares of company stock worth $3,186,710. Corporate insiders own 1.22% of the company’s stock.

About Bright Horizons Family Solutions

Bright Horizons Family Solutions Inc provides early education and childcare, back-up care, educational advisory, and other workplace solutions services for employers and families in the United States, Puerto Rico, the United Kingdom, the Netherlands, Australia, and India. The company operates in three segments: Full Service Center-Based Child Care, Back-Up Care, and Educational Advisory and Other Services.