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

Bright Horizons Family Solutions (NYSE:BFAM) issued an update on its FY 2024 earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of 3.370-3.420 for the period, compared to the consensus 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 recent analyst reports. Barclays raised their target price on shares of Bright Horizons Family Solutions from $125.00 to $160.00 and gave the stock an “overweight” rating in a report on Friday, August 30th. Robert W. Baird increased their price objective on Bright Horizons Family Solutions from $131.00 to $140.00 and gave the stock a “neutral” rating in a report on Tuesday. Morgan Stanley upped their target price on Bright Horizons Family Solutions from $100.00 to $108.00 and gave the company an “underweight” rating in a report on Tuesday. UBS Group boosted their price objective on shares of Bright Horizons Family Solutions from $145.00 to $148.00 and gave the company a “neutral” rating in a research report on Tuesday. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on shares of Bright Horizons Family Solutions from $114.00 to $140.00 and gave the company a “hold” rating in a research report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $141.13.

Bright Horizons Family Solutions Stock Performance

NYSE:BFAM traded up $0.32 during trading hours on Thursday, reaching $116.71. The company had a trading volume of 734,928 shares, compared to its average volume of 366,521. The firm has a market cap of $6.77 billion, a price-to-earnings ratio of 66.84 and a beta of 1.49. 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 firm’s 50 day moving average price is $135.42 and its 200-day moving average price is $122.24. Bright Horizons Family Solutions has a 52 week low of $80.29 and a 52 week high of $141.90.

Bright Horizons Family Solutions (NYSE:BFAM) last announced its earnings results on Monday, November 4th. The company reported $1.11 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $719.00 million for the quarter, compared to analysts’ expectations of $713.16 million. During the same period last year, the firm posted $0.78 earnings per share. The business’s revenue for the quarter was up 11.3% on a year-over-year basis. On average, analysts forecast that Bright Horizons Family Solutions will post 2.98 EPS for the current year.

Insiders Place Their Bets

In other Bright Horizons Family Solutions 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 sale, the chief operating officer now owns 31,025 shares in the company, valued at approximately $4,248,563.50. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.22% of the stock is owned by company 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.