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

Bright Horizons Family Solutions (NYSE:BFAM) updated its FY24 earnings guidance on Monday. The company provided earnings per share guidance of $3.37-$3.42 for the period, compared to the consensus earnings per share 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 Price Performance

Shares of BFAM traded down $0.71 during midday trading on Monday, reaching $132.83. The stock had a trading volume of 740,871 shares, compared to its average volume of 354,877. The firm’s 50 day moving average price is $136.39 and its 200-day moving average price is $122.00. Bright Horizons Family Solutions has a 52 week low of $80.29 and a 52 week high of $141.90. The company has a market capitalization of $7.71 billion, a P/E ratio of 76.75 and a beta of 1.49. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.56 and a quick ratio of 0.56.

Bright Horizons Family Solutions (NYSE:BFAM) last posted its quarterly earnings data on Thursday, August 1st. The company reported $0.88 earnings per share for the quarter, beating the consensus estimate of $0.73 by $0.15. The company had revenue of $670.10 million during 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 12.86%. The business’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.54 EPS. On average, analysts forecast that Bright Horizons Family Solutions will post 2.98 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Barclays lifted their target price on Bright Horizons Family Solutions from $125.00 to $160.00 and gave the stock an “overweight” rating in a report on Friday, August 30th. BMO Capital Markets upped their price objective on shares of Bright Horizons Family Solutions from $104.00 to $122.00 and gave the company a “market perform” rating in a research note on Friday, August 2nd. The Goldman Sachs Group lifted their target price on shares of Bright Horizons Family Solutions from $125.00 to $142.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. JPMorgan Chase & Co. raised their price objective 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, August 2nd. Finally, UBS Group lifted their price objective on shares of Bright Horizons Family Solutions from $128.00 to $145.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 8th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $134.63.

Insiders Place Their Bets

In related news, COO Mary Lou Burke sold 800 shares of Bright Horizons Family Solutions stock in a transaction on Monday, October 7th. The stock was sold at an average price of $136.94, for a total transaction of $109,552.00. Following the completion of the sale, the chief operating officer now owns 31,025 shares of the company’s stock, valued at approximately $4,248,563.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Mary Ann Tocio sold 2,500 shares of the stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $130.93, for a total transaction of $327,325.00. Following the transaction, the director now owns 30,257 shares in the company, valued at $3,961,549.01. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Mary Lou Burke sold 800 shares of Bright Horizons Family Solutions stock in a transaction on Monday, October 7th. The shares were sold at an average price of $136.94, for a total transaction of $109,552.00. Following the completion of the sale, the chief operating officer now directly owns 31,025 shares of the company’s stock, valued at approximately $4,248,563.50. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 4,100 shares of company stock worth $549,397 in the last quarter. 1.22% of the stock is currently owned by corporate 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.