Equities Analysts Offer Predictions for Dayforce Inc’s Q3 2024 Earnings (NYSE:DAY)

Dayforce Inc (NYSE:DAY) – Stock analysts at KeyCorp issued their Q3 2024 earnings per share estimates for Dayforce in a report issued on Monday, September 23rd. KeyCorp analyst J. Celino expects that the company will earn $0.23 per share for the quarter. KeyCorp has a “Strong-Buy” rating on the stock. The consensus estimate for Dayforce’s current full-year earnings is $1.08 per share. KeyCorp also issued estimates for Dayforce’s Q4 2024 earnings at $0.27 EPS, FY2024 earnings at $1.03 EPS, Q1 2025 earnings at $0.43 EPS, Q2 2025 earnings at $0.30 EPS, Q3 2025 earnings at $0.33 EPS, Q4 2025 earnings at $0.35 EPS, FY2025 earnings at $1.40 EPS and FY2026 earnings at $1.89 EPS.

Dayforce (NYSE:DAY) last released its quarterly earnings data on Wednesday, July 31st. The company reported $0.23 EPS for the quarter, topping the consensus estimate of $0.18 by $0.05. Dayforce had a net margin of 2.89% and a return on equity of 6.35%. The company had revenue of $423.30 million during the quarter, compared to the consensus estimate of $417.41 million.

Other research analysts also recently issued reports about the stock. Needham & Company LLC reissued a “buy” rating and issued a $82.00 price target on shares of Dayforce in a report on Wednesday, July 31st. Piper Sandler raised shares of Dayforce from a “neutral” rating to an “overweight” rating and raised their target price for the company from $68.00 to $71.00 in a research note on Wednesday, July 31st. BMO Capital Markets reissued an “outperform” rating and issued a $75.00 price target on shares of Dayforce in a research note on Tuesday, June 11th. Wells Fargo & Company lowered their price objective on shares of Dayforce from $64.00 to $52.00 and set an “equal weight” rating on the stock in a research report on Friday, June 21st. Finally, TD Cowen dropped their price target on Dayforce from $63.00 to $53.00 and set a “buy” rating for the company in a research note on Friday, June 28th. Three equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Dayforce presently has an average rating of “Moderate Buy” and a consensus target price of $69.36.

Dayforce Price Performance

DAY stock opened at $58.79 on Wednesday. The firm has a 50 day moving average of $55.72 and a 200-day moving average of $57.16. The firm has a market capitalization of $9.29 billion, a P/E ratio of 178.16, a price-to-earnings-growth ratio of 2.12 and a beta of 1.29. Dayforce has a 12 month low of $47.08 and a 12 month high of $75.33. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.49.

Institutional Investors Weigh In On Dayforce

Institutional investors have recently made changes to their positions in the company. Select Equity Group L.P. bought a new position in Dayforce during the second quarter valued at approximately $721,310,000. EdgePoint Investment Group Inc. purchased a new stake in Dayforce during the 2nd quarter valued at $521,396,000. Dragoneer Investment Group LLC bought a new position in shares of Dayforce in the 2nd quarter worth approximately $193,274,000. Dimensional Fund Advisors LP bought a new stake in Dayforce during the second quarter valued at approximately $51,027,000. Finally, Cannae Holdings Inc. purchased a new stake in Dayforce during the second quarter valued at approximately $49,600,000.

About Dayforce

Dayforce Inc, together with its subsidiaries, operates as a human capital management (HCM) software company in the United States, Canada, and internationally. It offers Dayforce, a cloud HCM platform that provides human resources, payroll and tax, workforce management, wallet, benefits, and talent intelligence functionalities; and Powerpay, a cloud HR and payroll solution for the small business market.