CBIZ, Inc. (NYSE:CBZ) Forecasted to Post Q3 2024 Earnings of $0.74 Per Share

CBIZ, Inc. (NYSE:CBZ) – William Blair increased their Q3 2024 EPS estimates for shares of CBIZ in a report issued on Thursday, April 25th. William Blair analyst A. Nicholas now anticipates that the business services provider will earn $0.74 per share for the quarter, up from their previous forecast 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.

CBIZ (NYSE:CBZ) last released 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 firm had revenue of $494.30 million for the quarter, compared to analyst estimates of $490.88 million. CBIZ had a net margin of 7.65% and a return on equity of 15.43%. The firm’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.46 EPS.

A number of other research analysts have also weighed in on CBZ. Sidoti lowered shares of CBIZ from a “buy” rating to a “neutral” rating and set a $63.00 price target on the stock. in a research note on Tuesday, January 2nd. StockNews.com lowered CBIZ from a “hold” rating to a “sell” rating in a research note on Friday, April 26th.

CBIZ Stock Performance

NYSE:CBZ opened at $71.22 on Monday. The company has a fifty day moving average of $75.75 and a two-hundred day moving average of $65.49. CBIZ has a fifty-two week low of $49.13 and a fifty-two week high of $79.55. The stock has a market capitalization of $3.57 billion, a PE ratio of 28.73 and a beta of 0.83. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.54 and a current ratio of 1.54.

Institutional Trading of CBIZ

Several large investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in shares of CBIZ by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 2,718,316 shares of the business services provider’s stock worth $170,139,000 after purchasing an additional 51,127 shares during the last quarter. Burgundy Asset Management Ltd. boosted its stake in CBIZ by 5.5% during the fourth quarter. Burgundy Asset Management Ltd. now owns 2,151,499 shares of the business services provider’s stock worth $134,662,000 after buying an additional 112,117 shares during the last quarter. GW&K Investment Management LLC grew its holdings in CBIZ by 7.6% in the 4th quarter. GW&K Investment Management LLC now owns 1,105,210 shares of the business services provider’s stock valued at $69,175,000 after buying an additional 78,515 shares in the last quarter. BloombergSen Inc. increased its stake in shares of CBIZ by 5.9% in the 4th quarter. BloombergSen Inc. now owns 1,088,951 shares of the business services provider’s stock worth $68,157,000 after acquiring an additional 60,838 shares during the last quarter. Finally, Capital Research Global Investors purchased a new position in shares of CBIZ during the 4th quarter worth $47,831,000. 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.