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

Bright Horizons Family Solutions (NYSE:BFAM) updated its FY 2024 earnings guidance on Monday. The company provided EPS guidance of 3.370-3.420 for the period, compared to the consensus EPS estimate of 3.360. 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 $3.37-$3.42 EPS.

Analyst Ratings Changes

BFAM has been the topic of several analyst reports. The Goldman Sachs Group boosted their price objective on Bright Horizons Family Solutions from $142.00 to $162.00 and gave the stock a “buy” rating in a research note on Tuesday. Robert W. Baird lifted their price target on shares of Bright Horizons Family Solutions from $131.00 to $140.00 and gave the stock a “neutral” rating in a research note on Tuesday. Morgan Stanley raised their price objective 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. JPMorgan Chase & Co. upped their target price on Bright Horizons Family Solutions from $137.00 to $149.00 and gave the company an “overweight” rating in a research note on Tuesday. Finally, Barclays boosted their price objective on Bright Horizons Family Solutions from $125.00 to $160.00 and gave the company an “overweight” rating in a report on Friday, August 30th. One analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Bright Horizons Family Solutions has an average rating of “Hold” and a consensus target price of $141.13.

Bright Horizons Family Solutions Stock Up 0.3 %

Shares of BFAM stock traded up $0.32 during trading hours on Thursday, reaching $116.71. 734,928 shares of the company’s stock were exchanged, compared to its average volume of 366,521. Bright Horizons Family Solutions has a fifty-two week low of $80.29 and a fifty-two week high of $141.90. The stock’s 50 day moving average is $135.42 and its 200-day moving average is $122.24. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 0.73. The company has a market cap of $6.77 billion, a price-to-earnings ratio of 66.84 and a beta of 1.49.

Bright Horizons Family Solutions (NYSE:BFAM) last released its earnings results 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 firm had revenue of $719.00 million during the quarter, compared to the consensus estimate of $713.16 million. During the same quarter in the previous year, the company posted $0.78 earnings per share. The company’s revenue was up 11.3% compared to the same quarter last year. Analysts predict that Bright Horizons Family Solutions will post 2.98 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, COO Mary Lou Burke sold 800 shares of Bright Horizons Family Solutions stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $136.94, for a total value of $109,552.00. Following the completion of the transaction, the chief operating officer now owns 31,025 shares in the company, valued at $4,248,563.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.22% of the stock is currently owned by 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.