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

Bright Horizons Family Solutions (NYSE:BFAM) issued an update on its FY24 earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of $3.37-$3.42 for the period, compared to the consensus estimate of $3.36. The company issued revenue guidance of $2.675 billion, compared to the consensus revenue estimate of $2.68 billion. Bright Horizons Family Solutions also updated its FY 2024 guidance to 3.370-3.420 EPS.

Bright Horizons Family Solutions Trading Down 1.1 %

Bright Horizons Family Solutions stock traded down $1.23 during midday trading on Thursday, reaching $115.16. The stock had a trading volume of 348,199 shares, compared to its average volume of 364,731. Bright Horizons Family Solutions has a twelve month low of $80.29 and a twelve month high of $141.90. The stock has a market capitalization of $6.68 billion, a PE ratio of 66.84 and a beta of 1.49. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.56 and a current ratio of 0.56. The stock’s 50-day simple moving average is $135.42 and its 200 day simple moving average is $122.24.

Bright Horizons Family Solutions (NYSE:BFAM) last issued its quarterly earnings data on Monday, November 4th. The company reported $1.11 EPS for the quarter, topping analysts’ consensus estimates of $1.06 by $0.05. Bright Horizons Family Solutions had a return on equity of 12.86% and a net margin of 3.98%. The company had revenue of $719.00 million for the quarter, compared to analysts’ expectations of $713.16 million. During the same quarter in the previous year, the firm posted $0.78 earnings per share. The firm’s quarterly revenue was up 11.3% on a year-over-year basis. Analysts expect that Bright Horizons Family Solutions will post 2.98 EPS for the current year.

Analyst Ratings Changes

A number of research firms have weighed in on BFAM. The Goldman Sachs Group upped their target price on Bright Horizons Family Solutions from $142.00 to $162.00 and gave the stock a “buy” rating in a research report on Tuesday. UBS Group increased their price objective on Bright Horizons Family Solutions from $145.00 to $148.00 and gave the company a “neutral” rating in a research report on Tuesday. Morgan Stanley increased their price objective on Bright Horizons Family Solutions from $100.00 to $108.00 and gave the company an “underweight” rating in a research report on Tuesday. Robert W. Baird increased their price objective on Bright Horizons Family Solutions from $131.00 to $140.00 and gave the company a “neutral” rating in a research report on Tuesday. Finally, JPMorgan Chase & Co. boosted their target price on shares of Bright Horizons Family Solutions from $137.00 to $149.00 and gave the company an “overweight” rating in a research note on Tuesday. One analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $141.13.

Insider Transactions at Bright Horizons Family Solutions

In other news, COO Mary Lou Burke sold 800 shares of the company’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $136.94, for a total value of $109,552.00. Following the transaction, the chief operating officer now directly owns 31,025 shares of the company’s stock, valued at approximately $4,248,563.50. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.22% of the stock is currently 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.