CBIZ (NYSE:CBZ) Posts Earnings Results, Misses Estimates By $0.03 EPS

CBIZ (NYSE:CBZ) issued its quarterly earnings results on Thursday. The business services provider reported $1.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.57 by ($0.03), Briefing.com reports. The business 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%. CBIZ’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same period last year, the firm posted $1.46 earnings per share. CBIZ updated its FY 2024 guidance to 2.700-2.750 EPS and its FY24 guidance to $2.70 to $2.75 EPS.

CBIZ Stock Down 3.7 %

CBIZ stock traded down $2.77 during mid-day trading on Friday, reaching $72.76. The stock had a trading volume of 320,725 shares, compared to its average volume of 308,779. 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 has a fifty-two week low of $49.13 and a fifty-two week high of $79.55. The stock’s 50-day simple moving average is $75.61 and its 200-day simple moving average is $65.02. The firm has a market capitalization of $3.65 billion, a PE ratio of 31.28 and a beta of 0.83.

Wall Street Analysts Forecast Growth

Separately, Sidoti cut shares of CBIZ from a “buy” rating to a “neutral” rating and set a $63.00 price target for the company. in a report on Tuesday, January 2nd.

About CBIZ

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.