Bright Horizons Family Solutions (NYSE:BFAM) Updates FY24 Earnings Guidance

Bright Horizons Family Solutions (NYSE:BFAM) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share guidance of $3.30-3.40 for the period, compared to the consensus earnings per share estimate of $3.14. The company issued revenue guidance of $2.65-2.70 billion, compared to the consensus revenue estimate of $2.67 billion. Bright Horizons Family Solutions also updated its FY 2024 guidance to 3.300-3.400 EPS.

Bright Horizons Family Solutions Stock Up 14.1 %

Shares of Bright Horizons Family Solutions stock traded up $16.72 on Friday, hitting $135.15. The company had a trading volume of 1,596,166 shares, compared to its average volume of 310,371. Bright Horizons Family Solutions has a twelve month low of $71.65 and a twelve month high of $136.22. The stock has a 50-day moving average of $110.98 and a 200-day moving average of $109.21. The firm has a market capitalization of $7.84 billion, a P/E ratio of 95.18, a P/E/G ratio of 4.44 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.

Bright Horizons Family Solutions (NYSE:BFAM) last issued its quarterly earnings data on Thursday, August 1st. The company reported $0.88 earnings per share for the quarter, beating the consensus estimate of $0.73 by $0.15. Bright Horizons Family Solutions had a net margin of 3.98% and a return on equity of 13.08%. The company had revenue of $670.10 million for the quarter, compared to analyst estimates of $666.17 million. During the same period in the prior year, the firm earned $0.54 earnings per share. The company’s revenue was up 11.1% on a year-over-year basis. Research analysts predict that Bright Horizons Family Solutions will post 2.76 earnings per share for the current year.

Wall Street Analyst Weigh In

BFAM has been the subject of several research analyst reports. JPMorgan Chase & Co. lifted their price objective on shares of Bright Horizons Family Solutions from $119.00 to $137.00 and gave the company an overweight rating in a research note on Friday. The Goldman Sachs Group boosted their price target on shares of Bright Horizons Family Solutions from $125.00 to $142.00 and gave the company a buy rating in a research note on Friday. Robert W. Baird boosted their price target on shares of Bright Horizons Family Solutions from $115.00 to $131.00 and gave the company a neutral rating in a research note on Friday. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Bright Horizons Family Solutions from $114.00 to $140.00 and gave the company a hold rating in a research note on Friday. Finally, StockNews.com upgraded shares of Bright Horizons Family Solutions from a sell rating to a hold rating in a research note on Friday, May 3rd. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of Hold and an average target price of $128.43.

Insider Activity at Bright Horizons Family Solutions

In other news, CEO Stephen Howard Kramer sold 11,250 shares of the firm’s stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $113.95, for a total value of $1,281,937.50. Following the transaction, the chief executive officer now owns 122,573 shares in the company, valued at $13,967,193.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Mary Ann Tocio sold 4,000 shares of Bright Horizons Family Solutions stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $108.95, for a total value of $435,800.00. Following the completion of the transaction, the director now owns 31,855 shares of the company’s stock, valued at approximately $3,470,602.25. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Stephen Howard Kramer sold 11,250 shares of Bright Horizons Family Solutions 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 completion of the transaction, the chief executive officer now directly owns 122,573 shares of the company’s stock, valued at approximately $13,967,193.35. The disclosure for this sale can be found here. Insiders have sold 28,447 shares of company stock valued at $3,186,710 over the last three months. 1.22% of the stock is owned by corporate insiders.

Bright Horizons Family Solutions Company Profile

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.