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

CBIZ (NYSE:CBZ) announced its earnings results on Tuesday. The business services provider reported $0.84 EPS for the quarter, topping analysts’ consensus estimates of $0.76 by $0.08, Briefing.com reports. CBIZ had a return on equity of 15.47% and a net margin of 7.08%. The company had revenue of $438.90 million for the quarter, compared to analysts’ expectations of $440.16 million. During the same period last year, the firm earned $0.66 EPS. CBIZ’s revenue for the quarter 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 Price Performance

Shares of CBIZ stock traded up $0.24 during trading hours on Friday, reaching $69.17. The stock had a trading volume of 36,930 shares, compared to its average volume of 313,786. The firm has a market capitalization of $3.47 billion, a PE ratio of 29.21 and a beta of 0.92. CBIZ has a twelve month low of $53.37 and a twelve month high of $86.36. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.43. The stock’s 50 day moving average is $67.89 and its 200 day moving average is $72.86.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. StockNews.com cut CBIZ from a “hold” rating to a “sell” rating in a research note on Thursday, September 5th. Sidoti upgraded shares of CBIZ from a “neutral” rating to a “buy” rating and raised their price target for the company from $80.00 to $86.00 in a report on Monday, August 12th.

About CBIZ

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.