Bright Horizons Family Solutions (NYSE:BFAM) Releases Quarterly Earnings Results

Bright Horizons Family Solutions (NYSE:BFAM) announced its quarterly earnings results on Thursday. The company reported $0.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.73 by $0.15, Briefing.com reports. Bright Horizons Family Solutions had a return on equity of 13.08% and a net margin of 3.98%. The company had revenue of $670.10 million during the quarter, compared to the consensus estimate of $666.17 million. During the same period in the prior year, the company earned $0.54 earnings per share. The company’s revenue for the quarter was up 11.1% compared to the same quarter last year. Bright Horizons Family Solutions updated its FY24 guidance to $3.30-3.40 EPS and its FY 2024 guidance to 3.300-3.400 EPS.

Bright Horizons Family Solutions Stock Performance

Shares of NYSE BFAM traded up $16.72 during trading hours on Friday, reaching $135.15. 1,596,166 shares of the stock were exchanged, compared to its average volume of 310,371. The firm has a market capitalization of $7.84 billion, a price-to-earnings ratio of 95.18, a P/E/G ratio of 4.44 and a beta of 1.45. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.51 and a current ratio of 0.51. Bright Horizons Family Solutions has a 52 week low of $71.65 and a 52 week high of $136.22. The stock’s fifty day simple moving average is $110.98 and its 200 day simple moving average is $109.21.

Analysts Set New Price Targets

BFAM has been the subject of several recent analyst reports. BMO Capital Markets increased their price target on Bright Horizons Family Solutions from $104.00 to $122.00 and gave the stock a “market perform” rating in a report on Friday. Deutsche Bank Aktiengesellschaft increased their price objective on Bright Horizons Family Solutions from $114.00 to $140.00 and gave the stock a “hold” rating in a report on Friday. The Goldman Sachs Group increased their price objective on Bright Horizons Family Solutions from $125.00 to $142.00 and gave the stock a “buy” rating in a report on Friday. JPMorgan Chase & Co. raised their price objective on Bright Horizons Family Solutions from $119.00 to $137.00 and gave the company an “overweight” rating in a research report on Friday. Finally, Robert W. Baird raised their price objective on Bright Horizons Family Solutions from $115.00 to $131.00 and gave the company a “neutral” 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 company. Based on data from MarketBeat, Bright Horizons Family Solutions has an average rating of “Hold” and an average price target of $128.43.

Insider Transactions at Bright Horizons Family Solutions

In other Bright Horizons Family Solutions news, COO Mary Lou Burke sold 800 shares of the firm’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $106.42, for a total transaction of $85,136.00. Following the transaction, the chief operating officer now owns 37,725 shares in the company, valued at approximately $4,014,694.50. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, CEO Stephen Howard Kramer sold 11,250 shares of Bright Horizons Family Solutions stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $113.95, for a total value of $1,281,937.50. Following the transaction, the chief executive officer now owns 122,573 shares in the company, valued at approximately $13,967,193.35. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Mary Lou Burke sold 800 shares of Bright Horizons Family Solutions stock in a transaction on Monday, June 10th. The shares were sold at an average price of $106.42, for a total value of $85,136.00. Following the completion of the transaction, the chief operating officer now owns 37,725 shares in the company, valued at approximately $4,014,694.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 28,447 shares of company stock worth $3,186,710. Company insiders own 1.22% of the company’s stock.

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.