CBIZ (NYSE:CBZ) Issues Quarterly Earnings Results

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. CBIZ had a net margin of 7.60% and a return on equity of 15.49%. The company had revenue of $494.30 million during the quarter, compared to analyst estimates of $490.88 million. During the same quarter last year, the business earned $1.46 EPS. The firm’s revenue for the quarter 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 Price Performance

NYSE CBZ traded down $2.77 during trading hours on Friday, hitting $72.76. 320,725 shares of the company’s stock traded hands, compared to its average volume of 308,779. The company has a market capitalization of $3.65 billion, a PE ratio of 31.28 and a beta of 0.83. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.20 and a quick ratio of 1.20. CBIZ has a 52-week low of $49.13 and a 52-week high of $79.55. The firm’s 50-day moving average is $75.61 and its 200-day moving average is $65.02.

Analyst Ratings Changes

Separately, Sidoti cut CBIZ from a “buy” rating to a “neutral” rating and set a $63.00 target price for the company. in a report on Tuesday, January 2nd.

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.