Bright Horizons Family Solutions (NYSE:BFAM) Posts Quarterly Earnings Results, Beats Estimates By $0.05 EPS

Bright Horizons Family Solutions (NYSE:BFAM) announced its quarterly earnings data on Monday. The company reported $1.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.05, Briefing.com reports. The company had revenue of $719.00 million for the quarter, compared to analysts’ expectations of $713.16 million. Bright Horizons Family Solutions had a net margin of 3.98% and a return on equity of 12.86%. The business’s revenue was up 11.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.78 EPS. Bright Horizons Family Solutions updated its FY24 guidance to $3.37-$3.42 EPS and its FY 2024 guidance to 3.370-3.420 EPS.

Bright Horizons Family Solutions Stock Down 1.2 %

NYSE BFAM traded down $1.42 during trading on Thursday, hitting $114.97. 470,531 shares of the company traded hands, compared to its average volume of 365,297. Bright Horizons Family Solutions has a 12 month low of $80.29 and a 12 month high of $141.90. The business has a fifty day simple moving average of $135.42 and a 200 day simple moving average of $122.24. The company has a market capitalization of $6.67 billion, a P/E ratio of 66.84 and a beta of 1.49. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 0.73.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Robert W. Baird increased their price objective on Bright Horizons Family Solutions from $131.00 to $140.00 and gave the company a “neutral” rating in a research report on Tuesday. UBS Group upped their target price on Bright Horizons Family Solutions from $145.00 to $148.00 and gave the company a “neutral” rating in a report on Tuesday. The Goldman Sachs Group increased their price target on Bright Horizons Family Solutions from $142.00 to $162.00 and gave the company a “buy” rating in a research report on Tuesday. Barclays boosted their price objective on Bright Horizons Family Solutions from $125.00 to $160.00 and gave the stock an “overweight” rating in a report on Friday, August 30th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on shares of Bright Horizons Family Solutions from $114.00 to $140.00 and gave the stock a “hold” rating in a research report on Friday, August 2nd. One analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $141.13.

Insiders Place Their Bets

In related news, COO Mary Lou Burke sold 800 shares of the company’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $140.65, for a total transaction of $112,520.00. Following the completion of the sale, the chief operating officer now directly owns 31,825 shares of the company’s stock, valued at approximately $4,476,186.25. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.22% of the company’s stock.

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.