CBIZ (NYSE:CBZ) Issues Quarterly Earnings Results, Beats Estimates By $0.08 EPS

by · The Cerbat Gem

CBIZ (NYSE:CBZ – Get Free Report) posted its quarterly earnings results on Tuesday. The business services provider reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.08, Briefing.com reports. CBIZ had a net margin of 7.12% and a return on equity of 14.58%. The firm had revenue of $438.90 million during the quarter, compared to analysts’ expectations of $440.16 million. During the same period in the prior year, the company posted $0.66 earnings per share. The firm’s revenue for the quarter was up 6.9% on a year-over-year basis. CBIZ updated its FY 2024 guidance to 2.640-2.690 EPS and its FY24 guidance to $2.64-$2.69 EPS.

CBIZ Stock Up 0.1 %

CBZ stock traded up $0.05 during midday trading on Wednesday, hitting $71.12. 170,654 shares of the company’s stock were exchanged, compared to its average volume of 313,266. CBIZ has a 12-month low of $51.16 and a 12-month high of $86.36. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.43. The stock has a market capitalization of $3.57 billion, a price-to-earnings ratio of 30.44 and a beta of 0.92. The firm has a 50 day moving average price of $67.91 and a 200-day moving average price of $72.87.

Analysts Set New Price Targets

A number of brokerages recently issued reports on CBZ. Sidoti upgraded shares of CBIZ from a “neutral” rating to a “buy” rating and raised their target price for the stock from $80.00 to $86.00 in a research report on Monday, August 12th. StockNews.com lowered shares of CBIZ from a “hold” rating to a “sell” rating in a report on Thursday, September 5th.

View Our Latest Research Report on CBIZ

About CBIZ

(Get Free Report)

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.

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