William Blair Has Positive Forecast for CBIZ FY2024 Earnings

CBIZ, Inc. (NYSE:CBZ) – Equities researchers at William Blair upped their FY2024 earnings estimates for shares of CBIZ in a research note issued on Tuesday, October 29th. William Blair analyst A. Nicholas now expects that the business services provider will post earnings of $2.65 per share for the year, up from their previous estimate of $2.64. The consensus estimate for CBIZ’s current full-year earnings is $2.64 per share. William Blair also issued estimates for CBIZ’s Q4 2024 earnings at ($0.23) EPS and FY2025 earnings at $2.95 EPS.

CBIZ (NYSE:CBZ) last posted its earnings results on Tuesday, October 29th. The business services provider reported $0.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.76 by $0.08. The company had revenue of $438.90 million during the quarter, compared to the consensus estimate of $440.16 million. CBIZ had a net margin of 7.08% and a return on equity of 15.47%. The firm’s quarterly revenue was up 6.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.66 earnings per share.

Several other equities research analysts have also commented on CBZ. StockNews.com lowered CBIZ from a “hold” rating to a “sell” rating in a research report on Thursday, September 5th. Sidoti raised shares of CBIZ from a “neutral” rating to a “buy” rating and increased their price target for the stock from $80.00 to $86.00 in a report on Monday, August 12th.

CBIZ Stock Performance

Shares of CBZ stock opened at $69.70 on Friday. CBIZ has a 52-week low of $53.37 and a 52-week high of $86.36. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.43. The stock has a market cap of $3.50 billion, a PE ratio of 29.53 and a beta of 0.92. The business has a 50-day simple moving average of $67.80 and a 200-day simple moving average of $72.80.

Hedge Funds Weigh In On CBIZ

A number of large investors have recently bought and sold shares of CBZ. Vanguard Group Inc. grew its holdings in CBIZ by 1.9% in the fourth quarter. Vanguard Group Inc. now owns 2,718,316 shares of the business services provider’s stock valued at $170,139,000 after purchasing an additional 51,127 shares during the period. Principal Financial Group Inc. increased its holdings in CBIZ by 19.5% in the 1st quarter. Principal Financial Group Inc. now owns 19,459 shares of the business services provider’s stock worth $1,528,000 after acquiring an additional 3,179 shares in the last quarter. Private Advisor Group LLC raised its position in CBIZ by 2.7% during the first quarter. Private Advisor Group LLC now owns 43,465 shares of the business services provider’s stock worth $3,412,000 after acquiring an additional 1,130 shares during the period. BNP Paribas Financial Markets lifted its holdings in CBIZ by 39.6% during the first quarter. BNP Paribas Financial Markets now owns 50,004 shares of the business services provider’s stock valued at $3,925,000 after purchasing an additional 14,173 shares in the last quarter. Finally, Cross Staff Investments Inc acquired a new stake in shares of CBIZ in the first quarter valued at about $236,000. Institutional investors and hedge funds own 87.44% of the company’s stock.

CBIZ Company Profile

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.