Zacks: Brokerages Anticipate CBIZ, Inc. (CBZ) to Post $0.57 Earnings Per Share

Wall Street analysts forecast that CBIZ, Inc. (NYSE:CBZ) will post $0.57 earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Zero analysts have provided estimates for CBIZ’s earnings. CBIZ reported earnings of $0.45 per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 26.7%. The business is scheduled to report its next quarterly earnings report on Thursday, April 26th.

On average, analysts expect that CBIZ will report full-year earnings of $1.05 per share for the current fiscal year. For the next fiscal year, analysts anticipate that the firm will post earnings of $1.16 per share. Zacks’ EPS calculations are a mean average based on a survey of sell-side analysts that follow CBIZ.

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CBIZ (NYSE:CBZ) last released its quarterly earnings data on Thursday, February 15th. The business services provider reported $0.04 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.01 by $0.03. CBIZ had a net margin of 5.89% and a return on equity of 9.28%. The firm had revenue of $195.00 million during the quarter, compared to analysts’ expectations of $191.40 million. During the same period last year, the business earned ($0.01) earnings per share. CBIZ’s revenue was up 9.1% compared to the same quarter last year.

CBZ has been the subject of several research analyst reports. Zacks Investment Research raised shares of CBIZ from a “hold” rating to a “buy” rating and set a $21.00 target price for the company in a research note on Wednesday, February 21st. ValuEngine raised shares of CBIZ from a “buy” rating to a “strong-buy” rating in a research note on Thursday, March 1st.

In other news, insider Ware H. Grove sold 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 6th. The shares were sold at an average price of $18.35, for a total value of $458,750.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Steven L. Gerard sold 109,947 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $18.13, for a total transaction of $1,993,339.11. Following the completion of the transaction, the director now directly owns 346,976 shares of the company’s stock, valued at approximately $6,290,674.88. The disclosure for this sale can be found here. Company insiders own 6.90% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Bank of New York Mellon Corp boosted its stake in shares of CBIZ by 2.2% in the third quarter. Bank of New York Mellon Corp now owns 380,689 shares of the business services provider’s stock valued at $6,186,000 after purchasing an additional 8,373 shares during the period. Macquarie Group Ltd. purchased a new position in shares of CBIZ in the third quarter valued at approximately $365,000. Allianz Asset Management GmbH boosted its stake in shares of CBIZ by 80.7% in the fourth quarter. Allianz Asset Management GmbH now owns 181,817 shares of the business services provider’s stock valued at $2,809,000 after purchasing an additional 81,190 shares during the period. Cubist Systematic Strategies LLC purchased a new position in shares of CBIZ in the third quarter valued at approximately $293,000. Finally, Dimensional Fund Advisors LP boosted its stake in shares of CBIZ by 0.8% in the third quarter. Dimensional Fund Advisors LP now owns 4,607,232 shares of the business services provider’s stock valued at $74,868,000 after purchasing an additional 35,292 shares during the period. 86.81% of the stock is owned by institutional investors and hedge funds.

CBIZ stock traded down $0.35 during midday trading on Tuesday, hitting $18.55. 106,561 shares of the stock were exchanged, compared to its average volume of 164,217. CBIZ has a fifty-two week low of $13.75 and a fifty-two week high of $19.65. The stock has a market cap of $1,020.42, a P/E ratio of 21.32 and a beta of 0.71. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.34.

CBIZ declared that its Board of Directors has authorized a stock buyback program on Wednesday, February 14th that authorizes the company to buyback 5,000,000 shares. This buyback authorization authorizes the business services provider to reacquire shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.

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CBIZ Company Profile

CBIZ, Inc (CBIZ) is engaged in the professional services business. The Company operates its professional services business through acquiring and integrating accounting and financial service providers, group health benefits consulting firms, property and casualty brokerage firms, payroll service providers, and valuation and other service firms throughout the United States.

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