Bright Horizons Family Solutions (NYSE:BFAM) Updates FY 2024 Earnings Guidance

Bright Horizons Family Solutions (NYSE:BFAM) issued an update on its FY 2024 earnings guidance on Friday morning. The company provided earnings per share guidance of 3.000-3.200 for the period, compared to the consensus earnings per share estimate of 3.080. The company issued revenue guidance of $2.6 billion-$2.7 billion, compared to the consensus revenue estimate of $2.7 billion.

Bright Horizons Family Solutions Trading Up 3.0 %

Shares of BFAM traded up $3.29 during mid-day trading on Monday, hitting $114.52. 759,599 shares of the company’s stock traded hands, compared to its average volume of 344,130. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 0.78. Bright Horizons Family Solutions has a 1 year low of $71.65 and a 1 year high of $119.21. The firm has a market capitalization of $6.64 billion, a P/E ratio of 78.33, a PEG ratio of 4.28 and a beta of 1.38. The business’s 50-day moving average price is $111.11 and its 200-day moving average price is $98.95.

Bright Horizons Family Solutions (NYSE:BFAM) last posted its earnings results on Tuesday, February 13th. The company reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.12. Bright Horizons Family Solutions had a return on equity of 12.14% and a net margin of 3.34%. The firm had revenue of $615.65 million for the quarter, compared to analysts’ expectations of $588.63 million. As a group, sell-side analysts forecast that Bright Horizons Family Solutions will post 2.69 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on BFAM shares. UBS Group reduced their target price on Bright Horizons Family Solutions from $103.00 to $102.00 and set a neutral rating on the stock in a research note on Wednesday, February 14th. Barclays raised Bright Horizons Family Solutions from an equal weight rating to an overweight rating and upped their price target for the stock from $100.00 to $125.00 in a research note on Wednesday, February 28th. JPMorgan Chase & Co. upped their price target on Bright Horizons Family Solutions from $107.00 to $119.00 and gave the stock an overweight rating in a research note on Friday. The Goldman Sachs Group upped their price target on Bright Horizons Family Solutions from $108.00 to $123.00 and gave the stock a buy rating in a research note on Wednesday, April 10th. Finally, BMO Capital Markets upped their price target on Bright Horizons Family Solutions from $102.00 to $104.00 and gave the stock a market perform rating in a research note on Friday. One analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of Hold and a consensus price target of $106.63.

Insider Transactions at Bright Horizons Family Solutions

In other news, CFO Elizabeth J. Boland sold 15,640 shares of the stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $113.77, for a total value of $1,779,362.80. Following the sale, the chief financial officer now directly owns 89,983 shares of the company’s stock, valued at $10,237,365.91. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, COO Mary Lou Burke sold 1,500 shares of the company’s stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $105.00, for a total transaction of $157,500.00. Following the transaction, the chief operating officer now directly owns 37,253 shares of the company’s stock, valued at $3,911,565. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Elizabeth J. Boland sold 15,640 shares of the company’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $113.77, for a total value of $1,779,362.80. Following the transaction, the chief financial officer now directly owns 89,983 shares in the company, valued at $10,237,365.91. The disclosure for this sale can be found here. Insiders own 1.28% of the company’s stock.

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.