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

CBIZ (NYSE:CBZ) released 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 return on equity of 15.79% and a net margin of 7.65%. The business had revenue of $494.30 million for the quarter, compared to analyst estimates of $490.88 million. During the same quarter last year, the company earned $1.46 EPS. CBIZ’s revenue was up 8.7% compared to the same quarter last year. 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 Performance

NYSE CBZ traded down $2.77 on Friday, hitting $72.76. The stock had a trading volume of 321,086 shares, compared to its average volume of 269,704. 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 company’s 50-day moving average is $75.74 and its two-hundred day moving average is $65.22. The stock has a market cap of $3.65 billion, a price-to-earnings ratio of 29.46 and a beta of 0.83. CBIZ has a one year low of $49.13 and a one year high of $79.55.

Analysts Set New Price Targets

CBZ has been the topic of a number of research reports. StockNews.com cut CBIZ from a “hold” rating to a “sell” rating in a research report on Friday. Sidoti lowered CBIZ from a “buy” rating to a “neutral” rating and set a $63.00 target price on the stock. in a research 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.