Bright Horizons Family Solutions (NYSE:BFAM) Releases Quarterly Earnings Results, Beats Estimates By $0.05 EPS

by · The Cerbat Gem

Bright Horizons Family Solutions (NYSE:BFAM – Get Free Report) issued its quarterly earnings results on Monday. The company reported $1.11 EPS for the quarter, topping analysts’ consensus estimates of $1.06 by $0.05, Briefing.com reports. The business had revenue of $719.00 million for the quarter, compared to analyst estimates of $713.16 million. Bright Horizons Family Solutions had a return on equity of 12.86% and a net margin of 3.98%. Bright Horizons Family Solutions’s quarterly revenue was up 11.3% compared to the same quarter last year. During the same period last year, the company posted $0.78 earnings per share. Bright Horizons Family Solutions updated its FY24 guidance to $3.37-$3.42 EPS and its FY 2024 guidance to 3.370-3.420 EPS.

Bright Horizons Family Solutions Stock Performance

Shares of NYSE:BFAM traded up $2.54 during trading on Wednesday, hitting $118.42. 445,067 shares of the company were exchanged, compared to its average volume of 359,559. The company has a market cap of $6.87 billion, a PE ratio of 66.61 and a beta of 1.49. Bright Horizons Family Solutions has a 52-week low of $80.29 and a 52-week high of $141.90. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.56 and a quick ratio of 0.56. The stock has a 50 day moving average of $135.84 and a 200 day moving average of $122.28.

Analyst Ratings Changes

BFAM has been the topic of a number of recent analyst reports. The Goldman Sachs Group lifted their target price on Bright Horizons Family Solutions from $142.00 to $162.00 and gave the stock a “buy” rating in a research note on Tuesday. UBS Group boosted their target price on shares of 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 target on shares of Bright Horizons Family Solutions from $100.00 to $108.00 and gave the stock an “underweight” rating in a research note on Tuesday. JPMorgan Chase & Co. upped their price objective on Bright Horizons Family Solutions from $137.00 to $149.00 and gave the company an “overweight” rating in a research note on Tuesday. Finally, Deutsche Bank Aktiengesellschaft raised their target price on Bright Horizons Family Solutions from $114.00 to $140.00 and gave the stock a “hold” rating in a research report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Bright Horizons Family Solutions currently has an average rating of “Hold” and a consensus price target of $141.13.

View Our Latest Research Report on Bright Horizons Family Solutions

Insider Activity

In other Bright Horizons Family Solutions news, Director Mary Ann Tocio sold 2,500 shares of the firm’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $130.93, for a total value of $327,325.00. Following the completion of the transaction, the director now owns 30,257 shares in the company, valued at $3,961,549.01. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Mary Ann Tocio sold 2,500 shares of the stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $130.93, for a total value of $327,325.00. Following the sale, the director now directly owns 30,257 shares of the company’s stock, valued at approximately $3,961,549.01. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Mary Lou Burke sold 800 shares of the business’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $136.94, for a total transaction of $109,552.00. Following the transaction, the chief operating officer now directly owns 31,025 shares of the company’s stock, valued at approximately $4,248,563.50. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 4,100 shares of company stock worth $549,397. 1.22% of the stock is owned by corporate insiders.

Bright Horizons Family Solutions Company Profile

(Get Free Report)

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.

Further Reading