Equities Analysts Issue Forecasts for CBIZ FY2024 Earnings

CBIZ, Inc. (NYSE:CBZ - Free Report) - Research analysts at William Blair raised their FY2024 EPS estimates for CBIZ in a note issued to investors on Tuesday, October 29th. William Blair analyst A. Nicholas now forecasts that the business services provider will post earnings of $2.65 per share for the year, up from their prior forecast of $2.64. The consensus estimate for CBIZ's current full-year earnings is $2.64 per share. William Blair also issued estimates for CBIZ's Q4 2024 earnings at ($0.23) EPS and FY2025 earnings at $2.95 EPS.

Other equities analysts have also issued research reports about the stock. StockNews.com lowered shares of CBIZ from a "hold" rating to a "sell" rating in a research report on Thursday, September 5th. Sidoti upgraded shares of CBIZ from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $80.00 to $86.00 in a research note on Monday, August 12th.

CBIZ Trading Up 1.1 %

CBZ stock traded up $0.77 on Friday, hitting $69.70. 348,971 shares of the company were exchanged, compared to its average volume of 315,427. CBIZ has a twelve month low of $53.37 and a twelve month high of $86.36. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.48 and a quick ratio of 1.48. The business's fifty day moving average is $67.80 and its two-hundred day moving average is $72.80. The stock has a market capitalization of $3.50 billion, a price-to-earnings ratio of 29.53 and a beta of 0.92.

CBIZ (NYSE:CBZ - Get Free Report) last posted its quarterly earnings data on Tuesday, October 29th. The business services provider reported $0.84 earnings per share for the quarter, beating analysts' consensus estimates of $0.76 by $0.08. CBIZ had a net margin of 7.08% and a return on equity of 15.47%. The business had revenue of $438.90 million during the quarter, compared to analyst estimates of $440.16 million. During the same quarter in the previous year, the business posted $0.66 earnings per share. The company's revenue was up 6.9% on a year-over-year basis.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Fiera Capital Corp boosted its stake in CBIZ by 2.0% during the 3rd quarter. Fiera Capital Corp now owns 178,355 shares of the business services provider's stock valued at $12,002,000 after acquiring an additional 3,475 shares during the last quarter. Principal Financial Group Inc. raised its holdings in shares of CBIZ by 25.8% during the third quarter. Principal Financial Group Inc. now owns 27,860 shares of the business services provider's stock worth $1,875,000 after purchasing an additional 5,717 shares during the period. Cannon Global Investment Management LLC acquired a new stake in shares of CBIZ during the third quarter worth $740,000. US Bancorp DE raised its holdings in shares of CBIZ by 16.1% during the third quarter. US Bancorp DE now owns 1,796 shares of the business services provider's stock worth $121,000 after purchasing an additional 249 shares during the period. Finally, Semanteon Capital Management LP acquired a new stake in shares of CBIZ during the third quarter worth $1,144,000. 87.44% of the stock is currently owned by hedge funds and other institutional investors.

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.