Bright Horizons Family Solutions (NYSE:BFAM) Issues FY 2024 Earnings Guidance

Bright Horizons Family Solutions (NYSE:BFAM) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share guidance of 3.300-3.400 for the period, compared to the consensus earnings per share estimate of 3.140. The company issued revenue guidance of $2.7 billion-$2.7 billion, compared to the consensus revenue estimate of $2.7 billion. Bright Horizons Family Solutions also updated its FY24 guidance to $3.30-3.40 EPS.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on BFAM shares. The Goldman Sachs Group lifted their price objective on Bright Horizons Family Solutions from $125.00 to $142.00 and gave the company a buy rating in a research note on Friday. StockNews.com upgraded shares of Bright Horizons Family Solutions from a sell rating to a hold rating in a research note on Friday, May 3rd. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Bright Horizons Family Solutions from $114.00 to $140.00 and gave the company a hold rating in a research note on Friday. JPMorgan Chase & Co. upped their target price on shares of Bright Horizons Family Solutions from $119.00 to $137.00 and gave the stock an overweight rating in a research note on Friday. Finally, BMO Capital Markets raised their price target on shares of Bright Horizons Family Solutions from $104.00 to $122.00 and gave the company a market perform rating in a research report on Friday. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of Hold and a consensus target price of $128.43.

Bright Horizons Family Solutions Stock Up 14.1 %

Bright Horizons Family Solutions stock traded up $16.72 during trading on Friday, reaching $135.15. The stock had a trading volume of 1,596,166 shares, compared to its average volume of 310,371. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.76. Bright Horizons Family Solutions has a 52-week low of $71.65 and a 52-week high of $136.22. The stock has a market cap of $7.84 billion, a PE ratio of 95.18, a P/E/G ratio of 4.44 and a beta of 1.45. The business has a 50 day moving average price of $110.98 and a 200 day moving average price of $109.29.

Bright Horizons Family Solutions (NYSE:BFAM) last announced its quarterly earnings data on Thursday, August 1st. The company reported $0.88 earnings per share for the quarter, beating analysts’ consensus estimates of $0.73 by $0.15. The business had revenue of $670.10 million for the quarter, compared to analyst estimates of $666.17 million. Bright Horizons Family Solutions had a net margin of 3.98% and a return on equity of 13.08%. The company’s revenue was up 11.1% on a year-over-year basis. During the same period last year, the business earned $0.54 EPS. On average, analysts predict that Bright Horizons Family Solutions will post 2.76 EPS for the current year.

Insider Transactions at Bright Horizons Family Solutions

In other Bright Horizons Family Solutions news, Director Mary Ann Tocio sold 4,000 shares of the stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $108.95, for a total value of $435,800.00. Following the transaction, the director now directly owns 31,855 shares in the company, valued at $3,470,602.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Bright Horizons Family Solutions news, Director Mary Ann Tocio sold 4,000 shares of the firm’s stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $108.95, for a total transaction of $435,800.00. Following the transaction, the director now owns 31,855 shares of the company’s stock, valued at $3,470,602.25. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Jason Janoff sold 6,000 shares of the business’s stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $113.79, for a total value of $682,740.00. Following the completion of the sale, the chief accounting officer now directly owns 8,955 shares of the company’s stock, valued at $1,018,989.45. The disclosure for this sale can be found here. In the last ninety days, insiders sold 28,447 shares of company stock valued at $3,186,710. 1.22% of the stock is currently owned by corporate 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.