Bright Horizons Family Solutions (NYSE:BFAM) Issues FY24 Earnings Guidance

Bright Horizons Family Solutions (NYSE:BFAM) issued an update on its FY24 earnings guidance on Thursday morning. The company provided EPS guidance of $3.00-3.20 for the period, compared to the consensus EPS estimate of $3.08. The company issued revenue guidance of $2.60-2.70 billion, compared to the consensus revenue estimate of $2.66 billion.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. The Goldman Sachs Group increased their price objective on Bright Horizons Family Solutions from $108.00 to $123.00 and gave the stock a buy rating in a report on Wednesday, April 10th. BMO Capital Markets upped their price objective on shares of Bright Horizons Family Solutions from $90.00 to $92.00 and gave the stock a market perform rating in a report on Thursday, February 15th. Barclays upgraded Bright Horizons Family Solutions from an equal weight rating to an overweight rating and upped their price target for the stock from $100.00 to $125.00 in a research note on Wednesday, February 28th. Robert W. Baird boosted their target price on shares of Bright Horizons Family Solutions from $94.00 to $105.00 and gave the stock a neutral rating in a research report on Thursday, February 15th. Finally, StockNews.com downgraded Bright Horizons Family Solutions from a hold rating to a sell rating in a research report on Wednesday, February 21st. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of Hold and an average price target of $102.38.

Bright Horizons Family Solutions Price Performance

Shares of BFAM stock traded up $0.54 during trading hours on Thursday, reaching $104.27. 450,625 shares of the company were exchanged, compared to its average volume of 335,396. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.56 and a quick ratio of 0.56. The company has a market cap of $6.05 billion, a price-to-earnings ratio of 81.60, a P/E/G ratio of 3.99 and a beta of 1.38. The stock’s fifty day moving average is $111.12 and its two-hundred day moving average is $98.42. Bright Horizons Family Solutions has a fifty-two week low of $71.65 and a fifty-two week high of $119.21.

Bright Horizons Family Solutions (NYSE:BFAM) last issued its quarterly earnings results on Tuesday, February 13th. The company reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.12. Bright Horizons Family Solutions had a return on equity of 12.24% and a net margin of 3.07%. The business had revenue of $615.65 million for the quarter, compared to analyst estimates of $588.63 million. Sell-side analysts forecast that Bright Horizons Family Solutions will post 2.69 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, COO Mary Lou Burke sold 1,500 shares of the stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $105.00, for a total value of $157,500.00. Following the transaction, the chief operating officer now owns 37,253 shares of the company’s stock, valued at approximately $3,911,565. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CFO Elizabeth J. Boland sold 15,640 shares of Bright Horizons Family Solutions stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $113.77, for a total transaction of $1,779,362.80. Following the transaction, the chief financial officer now owns 89,983 shares of the company’s stock, valued at approximately $10,237,365.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Mary Lou Burke sold 1,500 shares of the business’s stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $105.00, for a total transaction of $157,500.00. Following the transaction, the chief operating officer now owns 37,253 shares of the company’s stock, valued at approximately $3,911,565. The disclosure for this sale can be found here. 1.28% of the stock is currently owned by insiders.

About Bright Horizons Family Solutions

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.