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

CBIZ (NYSE:CBZ) announced its quarterly earnings data on Thursday. The business services provider reported $1.54 earnings per share for the quarter, missing the consensus estimate of $1.57 by ($0.03), Briefing.com reports. CBIZ had a net margin of 7.65% and a return on equity of 15.79%. The business had revenue of $494.30 million during the quarter, compared to analyst estimates of $490.88 million. During the same quarter in the prior year, the company earned $1.46 earnings per share. The company’s quarterly revenue was up 8.7% on a year-over-year basis. CBIZ updated its FY 2024 guidance to 2.700-2.750 EPS and its FY24 guidance to $2.70 to $2.75 EPS.

CBIZ Trading Down 3.7 %

NYSE CBZ traded down $2.77 during trading on Friday, reaching $72.76. 321,086 shares of the stock traded hands, compared to its average volume of 269,704. CBIZ has a fifty-two week low of $49.13 and a fifty-two week high of $79.55. 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 firm has a market cap of $3.65 billion, a price-to-earnings ratio of 29.46 and a beta of 0.83. The stock’s 50-day moving average price is $75.74 and its 200 day moving average price is $65.22.

Wall Street Analyst Weigh In

CBZ has been the topic of a number of analyst reports. Sidoti downgraded CBIZ from a “buy” rating to a “neutral” rating and set a $63.00 price target 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.

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.