Bright Horizons Family Solutions (NYSE:BFAM) Releases Quarterly Earnings Results, Beats Estimates By $0.05 EPS

Bright Horizons Family Solutions (NYSE:BFAM) announced its quarterly earnings data on Monday. The company reported $1.11 earnings per share for the quarter, beating analysts’ consensus estimates of $1.06 by $0.05, Briefing.com reports. The company had revenue of $719.00 million for the quarter, compared to analysts’ expectations of $713.16 million. Bright Horizons Family Solutions had a return on equity of 12.86% and a net margin of 3.98%. Bright Horizons Family Solutions’s revenue for the quarter was up 11.3% compared to the same quarter last year. During the same period last year, the firm posted $0.78 EPS. Bright Horizons Family Solutions updated its FY24 guidance to $3.37-$3.42 EPS and its FY 2024 guidance to 3.370-3.420 EPS.

Bright Horizons Family Solutions Trading Up 2.2 %

BFAM traded up $2.54 during midday trading on Wednesday, reaching $118.42. 445,067 shares of the company’s stock traded hands, compared to its average volume of 359,559. Bright Horizons Family Solutions has a 52 week low of $80.29 and a 52 week high of $141.90. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.56 and a quick ratio of 0.56. The firm has a fifty day moving average of $135.84 and a two-hundred day moving average of $122.28. The stock has a market capitalization of $6.87 billion, a price-to-earnings ratio of 66.61 and a beta of 1.49.

Analyst Upgrades and Downgrades

Several research analysts have commented on BFAM shares. Barclays lifted their price target on shares of Bright Horizons Family Solutions from $125.00 to $160.00 and gave the stock an “overweight” rating in a research note on Friday, August 30th. Morgan Stanley boosted their price target on shares of Bright Horizons Family Solutions from $100.00 to $108.00 and gave the stock an “underweight” rating in a research note on Tuesday. UBS Group raised their price objective on Bright Horizons Family Solutions from $145.00 to $148.00 and gave the company a “neutral” rating in a research note on Tuesday. Robert W. Baird boosted their target price on Bright Horizons Family Solutions from $131.00 to $140.00 and gave the company a “neutral” rating in a research note on Tuesday. Finally, BMO Capital Markets increased their target price on Bright Horizons Family Solutions from $104.00 to $122.00 and gave the company a “market perform” rating in a report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company. According to MarketBeat, Bright Horizons Family Solutions presently has an average rating of “Hold” and an average price target of $141.13.

Insider Transactions at Bright Horizons Family Solutions

In related news, COO Mary Lou Burke sold 800 shares of the company’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $140.65, for a total transaction of $112,520.00. Following the completion of the transaction, the chief operating officer now owns 31,825 shares in the company, valued at $4,476,186.25. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, COO Mary Lou Burke sold 800 shares of Bright Horizons Family Solutions stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $140.65, for a total value of $112,520.00. Following the sale, the chief operating officer now owns 31,825 shares in the company, valued at $4,476,186.25. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Mary Ann Tocio sold 2,500 shares of the company’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $130.93, for a total transaction of $327,325.00. Following the completion of the transaction, the director now owns 30,257 shares of the company’s stock, valued at $3,961,549.01. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 4,100 shares of company stock worth $549,397. 1.22% of the stock is currently owned by 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.