Equities Analysts Offer Predictions for CBIZ, Inc.’s Q3 2024 Earnings (NYSE:CBZ)

CBIZ, Inc. (NYSE:CBZ) – Equities research analysts at William Blair raised their Q3 2024 earnings per share estimates for CBIZ in a report issued on Thursday, April 25th. William Blair analyst A. Nicholas now expects that the business services provider will post earnings per share of $0.74 for the quarter, up from their previous estimate of $0.73. The consensus estimate for CBIZ’s current full-year earnings is $2.74 per share. William Blair also issued estimates for CBIZ’s FY2025 earnings at $3.05 EPS.

Several other research analysts have also recently issued reports on the company. StockNews.com cut CBIZ from a “hold” rating to a “sell” rating in a research note on Friday. Sidoti cut CBIZ from a “buy” rating to a “neutral” rating and set a $63.00 target price for the company. in a report on Tuesday, January 2nd.

CBIZ Stock Performance

Shares of NYSE:CBZ opened at $72.76 on Monday. The firm’s 50 day simple moving average is $75.74 and its 200-day simple moving average is $65.37. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.20 and a current ratio of 1.20. CBIZ has a one year low of $49.13 and a one year high of $79.55. The firm has a market cap of $3.65 billion, a PE ratio of 29.46 and a beta of 0.83.

CBIZ (NYSE:CBZ) last posted its quarterly earnings results on Thursday, April 25th. The business services provider reported $1.54 EPS for the quarter, missing the consensus estimate of $1.57 by ($0.03). The company had revenue of $494.30 million during the quarter, compared to analysts’ expectations of $490.88 million. CBIZ had a return on equity of 15.79% and a net margin of 7.65%. The company’s quarterly revenue was up 8.7% on a year-over-year basis. During the same period in the prior year, the business earned $1.46 EPS.

Institutional Investors Weigh In On CBIZ

Hedge funds have recently modified their holdings of the business. Capital Research Global Investors purchased a new position in CBIZ during the fourth quarter valued at approximately $47,831,000. Premier Fund Managers Ltd boosted its position in CBIZ by 596.0% during the 3rd quarter. Premier Fund Managers Ltd now owns 615,942 shares of the business services provider’s stock valued at $32,442,000 after acquiring an additional 527,448 shares in the last quarter. Norges Bank purchased a new position in shares of CBIZ in the 4th quarter valued at $19,874,000. Public Employees Retirement Association of Colorado bought a new position in shares of CBIZ in the 4th quarter worth $17,804,000. Finally, Artemis Investment Management LLP bought a new position in shares of CBIZ in the 1st quarter worth $17,148,000. Hedge funds and other institutional investors own 87.44% of the company’s stock.

About CBIZ

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