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

CBIZ (NYSE:CBZ) announced its 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 company had revenue of $494.30 million for the quarter, compared to analysts’ expectations of $490.88 million. CBIZ had a net margin of 7.65% and a return on equity of 15.79%. The firm’s quarterly revenue was up 8.7% on a year-over-year basis. During the same period in the previous year, the firm earned $1.46 EPS. CBIZ updated its FY 2024 guidance to 2.700-2.750 EPS and its FY24 guidance to $2.70 to $2.75 EPS.

CBIZ Price Performance

CBIZ stock opened at $72.75 on Friday. CBIZ has a 52 week low of $49.13 and a 52 week high of $79.55. The business has a 50-day simple moving average of $75.72 and a 200 day simple moving average of $65.09. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.39. The stock has a market cap of $3.65 billion, a price-to-earnings ratio of 29.45 and a beta of 0.83.

Analysts Set New Price Targets

A number of research firms recently issued reports on CBZ. Sidoti lowered CBIZ from a “buy” rating to a “neutral” rating and set a $63.00 price objective on the stock. in a research note on Tuesday, January 2nd. StockNews.com lowered CBIZ from a “hold” rating to a “sell” rating in a research note on Friday.

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.