CBIZ (NYSE:CBZ) Releases FY22 Earnings Guidance

CBIZ (NYSE:CBZGet Rating) issued an update on its FY22 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $1.99-$2.03 for the period, compared to the Thomson Reuters consensus estimate of $2.00. The company issued revenue guidance of $1.31-$1.34 billion, compared to the consensus revenue estimate of $1.30 billion.

Shares of CBZ opened at $41.10 on Thursday. The business has a 50-day moving average of $40.42 and a 200 day moving average of $38.93. CBIZ has a fifty-two week low of $30.68 and a fifty-two week high of $44.17. The firm has a market cap of $2.14 billion, a P/E ratio of 31.62 and a beta of 0.73. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.07 and a current ratio of 1.07.

CBIZ (NYSE:CBZGet Rating) last announced its quarterly earnings data on Thursday, February 17th. The business services provider reported ($0.19) earnings per share for the quarter, missing the consensus estimate of ($0.10) by ($0.09). CBIZ had a return on equity of 12.48% and a net margin of 6.42%. The firm had revenue of $242.80 million during the quarter, compared to analysts’ expectations of $232.76 million. CBIZ’s quarterly revenue was up 15.0% on a year-over-year basis. As a group, research analysts predict that CBIZ will post 2 earnings per share for the current fiscal year.

CBZ has been the subject of a number of recent analyst reports. William Blair reaffirmed an outperform rating on shares of CBIZ in a report on Wednesday, March 9th. StockNews.com initiated coverage on CBIZ in a report on Thursday, March 31st. They set a hold rating for the company. Finally, Zacks Investment Research lowered CBIZ from a buy rating to a hold rating in a report on Tuesday, April 19th.

In other news, CEO Jerome P. Grisko sold 8,192 shares of CBIZ stock in a transaction dated Wednesday, February 23rd. The stock was sold at an average price of $37.58, for a total transaction of $307,855.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Michael P. Kouzelos sold 5,936 shares of CBIZ stock in a transaction dated Friday, March 11th. The shares were sold at an average price of $39.09, for a total value of $232,038.24. The disclosure for this sale can be found here. In the last quarter, insiders have sold 24,222 shares of company stock valued at $936,585. Corporate insiders own 6.80% of the company’s stock.

Large investors have recently added to or reduced their stakes in the stock. Squarepoint Ops LLC bought a new stake in CBIZ in the 4th quarter worth approximately $306,000. BNP Paribas Arbitrage SA lifted its position in CBIZ by 87.2% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 14,189 shares of the business services provider’s stock worth $459,000 after buying an additional 6,610 shares during the last quarter. Susquehanna International Group LLP lifted its position in CBIZ by 46.3% in the 4th quarter. Susquehanna International Group LLP now owns 21,456 shares of the business services provider’s stock worth $839,000 after buying an additional 6,787 shares during the last quarter. Citigroup Inc. lifted its position in CBIZ by 134.7% in the 4th quarter. Citigroup Inc. now owns 21,617 shares of the business services provider’s stock worth $846,000 after buying an additional 12,405 shares during the last quarter. Finally, LPL Financial LLC lifted its position in CBIZ by 254.5% in the 3rd quarter. LPL Financial LLC now owns 24,654 shares of the business services provider’s stock worth $797,000 after buying an additional 17,700 shares during the last quarter.

CBIZ Company Profile (Get Rating)

CBIZ, Inc provides financial, insurance, and advisory services in the United States and Canada. The company operates through three segments: Financial Services, Benefits and Insurance Services, and National Practices. The Financial Services segment offers accounting and tax, financial advisory, valuation, risk and advisory, and government healthcare consulting services.

Featured Stories

Earnings History and Estimates for CBIZ (NYSE:CBZ)

Receive News & Ratings for CBIZ Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CBIZ and related companies with MarketBeat.com's FREE daily email newsletter.