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

Bright Horizons Family Solutions (NYSE:BFAM) updated its FY24 earnings guidance on Monday. The company provided earnings per share guidance of $3.37-$3.42 for the period, compared to the consensus earnings per share estimate of $3.36. The company issued revenue guidance of $2.675 billion, compared to the consensus revenue estimate of $2.68 billion. Bright Horizons Family Solutions also updated its FY 2024 guidance to 3.370-3.420 EPS.

Bright Horizons Family Solutions Stock Up 2.8 %

Bright Horizons Family Solutions stock traded up $3.24 during mid-day trading on Wednesday, hitting $119.12. 336,767 shares of the company’s stock were exchanged, compared to its average volume of 359,030. 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 stock has a market cap of $6.91 billion, a P/E ratio of 66.61 and a beta of 1.49. The stock has a 50 day moving average of $135.84 and a two-hundred day moving average of $122.28. Bright Horizons Family Solutions has a 1-year low of $80.29 and a 1-year high of $141.90.

Bright Horizons Family Solutions (NYSE:BFAM) last released its earnings results on Monday, November 4th. The company reported $1.11 earnings per share for the quarter, topping analysts’ consensus estimates of $1.06 by $0.05. The firm had revenue of $719.00 million during the quarter, compared to analyst estimates of $713.16 million. Bright Horizons Family Solutions had a net margin of 3.98% and a return on equity of 12.86%. The business’s revenue was up 11.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.78 EPS. As a group, analysts anticipate that Bright Horizons Family Solutions will post 2.98 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Robert W. Baird increased their price target on shares of Bright Horizons Family Solutions from $131.00 to $140.00 and gave the company a “neutral” rating in a report on Tuesday. UBS Group boosted their price target on Bright Horizons Family Solutions from $145.00 to $148.00 and gave the company a “neutral” rating in a research note on Tuesday. Morgan Stanley raised their price objective on Bright Horizons Family Solutions from $100.00 to $108.00 and gave the stock an “underweight” rating in a research report on Tuesday. Deutsche Bank Aktiengesellschaft boosted their price objective on 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. Finally, The Goldman Sachs Group upped their target price on Bright Horizons Family Solutions from $142.00 to $162.00 and gave the company a “buy” rating in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Bright Horizons Family Solutions has a consensus rating of “Hold” and a consensus target price of $141.13.

Insider Activity at Bright Horizons Family Solutions

In other Bright Horizons Family Solutions news, Director Mary Ann Tocio sold 2,500 shares of the stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $130.93, for a total transaction of $327,325.00. Following the completion of the transaction, the director now directly owns 30,257 shares in the company, valued at $3,961,549.01. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, COO Mary Lou Burke sold 800 shares of the business’s stock in a transaction that occurred 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 transaction, the chief operating officer now directly owns 31,025 shares of the company’s stock, valued at $4,248,563.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mary Ann Tocio sold 2,500 shares of the stock in a transaction that occurred 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 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 disclosure for this sale can be found here. Insiders have sold a total of 4,100 shares of company stock valued at $549,397 in the last 90 days. 1.22% of the stock is owned by corporate 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.