Bright Horizons Family Solutions (NYSE:BFAM) Issues FY 2024 Earnings Guidance

Bright Horizons Family Solutions (NYSE:BFAM - Get Free Report) issued an update on its FY 2024 earnings guidance on Monday morning. The company provided EPS guidance of 3.370-3.420 for the period, compared to the consensus EPS estimate of 3.360. The company issued revenue guidance of $2.7 billion-$2.7 billion, compared to the consensus revenue estimate of $2.7 billion. Bright Horizons Family Solutions also updated its FY24 guidance to $3.37-$3.42 EPS.

Bright Horizons Family Solutions Stock Performance

Shares of NYSE BFAM traded down $0.71 during mid-day trading on Monday, hitting $132.83. 750,557 shares of the company were exchanged, compared to its average volume of 354,923. Bright Horizons Family Solutions has a 1-year low of $80.29 and a 1-year high of $141.90. The firm has a market cap of $7.71 billion, a price-to-earnings ratio of 76.34 and a beta of 1.49. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 0.73. The stock has a 50 day simple moving average of $136.39 and a 200-day simple moving average of $122.00.

Bright Horizons Family Solutions (NYSE:BFAM - Get Free Report) last issued its earnings results on Thursday, August 1st. The company reported $0.88 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.15. Bright Horizons Family Solutions had a net margin of 3.98% and a return on equity of 12.86%. The company had revenue of $670.10 million for the quarter, compared to analyst estimates of $666.17 million. During the same period in the prior year, the business posted $0.54 earnings per share. The firm's revenue for the quarter was up 11.1% compared to the same quarter last year. On average, sell-side analysts forecast that Bright Horizons Family Solutions will post 2.98 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have weighed in on BFAM. The Goldman Sachs Group raised their target price on shares of Bright Horizons Family Solutions from $125.00 to $142.00 and gave the stock a "buy" rating in a research report on Friday, August 2nd. Robert W. Baird lifted their price objective on Bright Horizons Family Solutions from $115.00 to $131.00 and gave the company a "neutral" rating in a research note on Friday, August 2nd. Morgan Stanley increased their target price on shares of Bright Horizons Family Solutions from $92.00 to $100.00 and gave the stock an "underweight" rating in a research report on Wednesday, September 11th. BMO Capital Markets boosted their price objective on shares of Bright Horizons Family Solutions from $104.00 to $122.00 and gave the stock a "market perform" rating in a research note on Friday, August 2nd. Finally, JPMorgan Chase & Co. increased their price objective on shares of Bright Horizons Family Solutions from $119.00 to $137.00 and gave the stock an "overweight" rating in a research report on Friday, August 2nd. One analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat, Bright Horizons Family Solutions presently has a consensus rating of "Hold" and a consensus price target of $134.63.

Insider Activity

In other news, Director Mary Ann Tocio sold 2,500 shares of the stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $130.93, for a total transaction of $327,325.00. Following the completion of the sale, the director now owns 30,257 shares in the company, valued at approximately $3,961,549.01. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Mary Ann Tocio sold 2,500 shares of the company's stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $130.93, for a total transaction of $327,325.00. Following the transaction, the director now directly owns 30,257 shares of the company's stock, valued at approximately $3,961,549.01. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Mary Lou Burke sold 800 shares of the company's stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $136.94, for a total value of $109,552.00. Following the completion of the transaction, the chief operating officer now owns 31,025 shares in the company, valued at $4,248,563.50. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 4,100 shares of company stock worth $549,397. 1.22% of the stock is owned by company insiders.

Bright Horizons Family Solutions Company Profile

Bright Horizons Family Solutions Inc provides early education and childcare, back-up care, educational advisory, and other workplace solutions services for employers and families in the United States, Puerto Rico, the United Kingdom, the Netherlands, Australia, and India. The company operates in three segments: Full Service Center-Based Child Care, Back-Up Care, and Educational Advisory and Other Services.

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