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

Bright Horizons Family Solutions (NYSE:BFAM) issued an update on its FY24 earnings guidance on Monday morning. The company provided EPS guidance of $3.37-$3.42 for the period, compared to the consensus EPS estimate of $3.36. The company issued revenue guidance of $2.675 billion, compared to the consensus revenue estimate of $2.68 billion.

Wall Street Analysts Forecast Growth

BFAM has been the topic of several analyst reports. Deutsche Bank Aktiengesellschaft raised their target price on Bright Horizons Family Solutions from $114.00 to $140.00 and gave the company a “hold” rating in a report on Friday, August 2nd. The Goldman Sachs Group raised their price target on shares of Bright Horizons Family Solutions from $125.00 to $142.00 and gave the company a “buy” rating in a report on Friday, August 2nd. JPMorgan Chase & Co. upped their price objective on shares of Bright Horizons Family Solutions from $119.00 to $137.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. UBS Group boosted their price target on Bright Horizons Family Solutions from $128.00 to $145.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 8th. Finally, BMO Capital Markets raised their price objective on 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. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $134.63.

Bright Horizons Family Solutions Stock Performance

BFAM traded down $0.71 during trading hours on Monday, hitting $132.83. 740,871 shares of the stock were exchanged, compared to its average volume of 354,877. 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 has a 12 month low of $80.29 and a 12 month high of $141.90. The stock has a 50-day simple moving average of $136.39 and a 200-day simple moving average of $122.00. The stock has a market cap of $7.71 billion, a price-to-earnings ratio of 76.75 and a beta of 1.49.

Bright Horizons Family Solutions (NYSE:BFAM) last released its quarterly earnings data on Thursday, August 1st. The company reported $0.88 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.15. The firm 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 12.86%. Bright Horizons Family Solutions’s quarterly revenue was up 11.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.54 earnings per share. Analysts anticipate that Bright Horizons Family Solutions will post 2.98 earnings per share for the current year.

Insider Activity at Bright Horizons Family Solutions

In other Bright Horizons Family Solutions news, Director Mary Ann Tocio sold 2,500 shares of the firm’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $130.93, for a total value of $327,325.00. Following the sale, the director now directly owns 30,257 shares in the company, valued at approximately $3,961,549.01. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, COO Mary Lou Burke sold 800 shares of the stock in a transaction on 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 of the company’s stock, valued at approximately $4,248,563.50. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Mary Ann Tocio sold 2,500 shares of the firm’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $130.93, for a total value of $327,325.00. Following the transaction, the director now directly owns 30,257 shares in the company, 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. Insiders sold 4,100 shares of company stock worth $549,397 in the last 90 days. 1.22% of the stock is currently owned by company 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.