CBIZ (NYSE:CBZ) Releases Earnings Results, Beats Expectations By $0.08 EPS

CBIZ (NYSE:CBZ - Get Free Report) released its quarterly earnings data on Tuesday. The business services provider reported $0.84 EPS for the quarter, beating the consensus estimate of $0.76 by $0.08, Briefing.com reports. CBIZ had a return on equity of 14.58% and a net margin of 7.12%. The company had revenue of $438.90 million for the quarter, compared to analyst estimates of $440.16 million. During the same period last year, the company posted $0.66 earnings per share. The firm's revenue was up 6.9% compared to the same quarter last year. CBIZ updated its FY 2024 guidance to 2.640-2.690 EPS and its FY24 guidance to $2.64-$2.69 EPS.

CBIZ Stock Down 0.3 %

Shares of CBIZ stock traded down $0.19 on Wednesday, hitting $70.88. 418,522 shares of the company's stock traded hands, compared to its average volume of 314,477. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.43. The firm's 50-day moving average is $67.89 and its 200 day moving average is $72.86. The stock has a market cap of $3.56 billion, a P/E ratio of 30.42 and a beta of 0.92. CBIZ has a 52-week low of $51.16 and a 52-week high of $86.36.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on CBZ. StockNews.com downgraded shares of CBIZ from a "hold" rating to a "sell" rating in a research report on Thursday, September 5th. Sidoti raised shares of CBIZ from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $80.00 to $86.00 in a research note on Monday, August 12th.

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.