CBIZ (NYSE:CBZ) Issues FY 2024 Earnings Guidance

CBIZ (NYSE:CBZ) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided EPS guidance of 2.700-2.750 for the period, compared to the consensus EPS estimate of 2.720. The company issued revenue guidance of $1.7 billion-$1.7 billion, compared to the consensus revenue estimate of $1.7 billion. CBIZ also updated its FY24 guidance to $2.70 to $2.75 EPS.

CBIZ Price Performance

Shares of CBZ traded down $2.77 during mid-day trading on Friday, reaching $72.76. The company had a trading volume of 321,086 shares, compared to its average volume of 309,995. The company’s 50 day simple moving average is $75.72 and its 200 day simple moving average is $65.09. The company has a market capitalization of $3.65 billion, a price-to-earnings ratio of 30.57 and a beta of 0.83. CBIZ has a 1-year low of $49.13 and a 1-year high of $79.55. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.20 and a current ratio of 1.20.

CBIZ (NYSE:CBZ) last issued its earnings results on Thursday, April 25th. The business services provider reported $1.54 earnings per share for the quarter, missing analysts’ consensus estimates of $1.57 by ($0.03). The company had revenue of $494.30 million during the quarter, compared to analyst estimates of $490.88 million. CBIZ had a net margin of 7.60% and a return on equity of 15.49%. The business’s quarterly revenue was up 8.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.46 EPS. Analysts expect that CBIZ will post 2.74 EPS for the current year.

Analyst Upgrades and Downgrades

Separately, Sidoti downgraded CBIZ from a buy rating to a neutral rating and set a $63.00 target price for the company. in a research report on Tuesday, January 2nd.

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.