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 $3.30-3.40 for the period, compared to the consensus EPS estimate of $3.14. The company issued revenue guidance of $2.65-2.70 billion, compared to the consensus revenue estimate of $2.67 billion.

Bright Horizons Family Solutions Price Performance

BFAM stock traded down $1.82 during mid-day trading on Thursday, reaching $118.43. The company’s stock had a trading volume of 389,178 shares, compared to its average volume of 337,745. Bright Horizons Family Solutions has a fifty-two week low of $71.65 and a fifty-two week high of $122.67. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.76. The stock has a market cap of $6.87 billion, a PE ratio of 83.03, a P/E/G ratio of 4.59 and a beta of 1.45. The company’s 50 day moving average is $110.24 and its two-hundred day moving average is $108.89.

Bright Horizons Family Solutions (NYSE:BFAM) last issued its earnings results on Thursday, May 2nd. The company reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.06. The company had revenue of $622.71 million for the quarter, compared to the consensus estimate of $614.60 million. Bright Horizons Family Solutions had a net margin of 3.34% and a return on equity of 12.00%. Equities research analysts expect that Bright Horizons Family Solutions will post 2.76 EPS for the current year.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. StockNews.com raised shares of Bright Horizons Family Solutions from a sell rating to a hold rating in a research note on Friday, May 3rd. The Goldman Sachs Group increased their price target on Bright Horizons Family Solutions from $108.00 to $123.00 and gave the company a buy rating in a research report on Wednesday, April 10th. Robert W. Baird increased their target price on Bright Horizons Family Solutions from $105.00 to $115.00 and gave the company a neutral rating in a report on Friday, May 3rd. JPMorgan Chase & Co. raised their price objective on shares of Bright Horizons Family Solutions from $107.00 to $119.00 and gave the stock an overweight rating in a report on Friday, May 3rd. Finally, BMO Capital Markets upped their target price on Bright Horizons Family Solutions from $102.00 to $104.00 and gave the company a market perform rating in a research report on Friday, May 3rd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of Hold and an average target price of $107.43.

Insider Buying and Selling at Bright Horizons Family Solutions

In related news, COO Mary Lou Burke sold 1,000 shares of Bright Horizons Family Solutions stock in a transaction on Monday, July 15th. The stock was sold at an average price of $120.00, for a total transaction of $120,000.00. Following the completion of the transaction, the chief operating officer now directly owns 35,925 shares of the company’s stock, valued at $4,311,000. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CEO Stephen Howard Kramer sold 11,250 shares of the firm’s stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $113.95, for a total transaction of $1,281,937.50. Following the sale, the chief executive officer now owns 122,573 shares in the company, valued at $13,967,193.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Mary Lou Burke sold 1,000 shares of the stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $120.00, for a total value of $120,000.00. Following the transaction, the chief operating officer now owns 35,925 shares in the company, valued at $4,311,000. The disclosure for this sale can be found here. Over the last quarter, insiders sold 28,447 shares of company stock valued at $3,186,710. 1.22% of the stock is owned by company 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.