CBIZ (NYSE:CBZ) Updates FY24 Earnings Guidance

CBIZ (NYSE:CBZ) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided EPS guidance of $2.64-$2.69 for the period, compared to the consensus EPS estimate of $2.52. The company issued revenue guidance of $1.70-$1.73 billion, compared to the consensus revenue estimate of $1.71 billion. CBIZ also updated its FY 2024 guidance to 2.640-2.690 EPS.

CBIZ Stock Performance

Shares of NYSE:CBZ traded up $0.11 during trading on Friday, hitting $69.04. 24,738 shares of the company were exchanged, compared to its average volume of 313,728. The company has a market cap of $3.47 billion, a PE ratio of 29.21 and a beta of 0.92. The stock has a 50 day moving average of $67.89 and a 200 day moving average of $72.86. CBIZ has a 52-week low of $53.37 and a 52-week high of $86.36. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.48 and a quick ratio of 1.48.

CBIZ (NYSE:CBZ) last issued its quarterly earnings data on Tuesday, October 29th. The business services provider reported $0.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.76 by $0.08. CBIZ had a return on equity of 15.47% and a net margin of 7.08%. The company had revenue of $438.90 million for the quarter, compared to the consensus estimate of $440.16 million. During the same quarter last year, the business posted $0.66 earnings per share. The firm’s revenue was up 6.9% compared to the same quarter last year. As a group, equities research analysts predict that CBIZ will post 2.64 EPS for the current year.

Wall Street Analysts Forecast Growth

CBZ has been the topic of a number of recent analyst reports. Sidoti upgraded CBIZ from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $80.00 to $86.00 in a research report on Monday, August 12th. StockNews.com downgraded shares of CBIZ from a “hold” rating to a “sell” rating in a research report on Thursday, September 5th.

CBIZ Company Profile

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.