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

by · The Markets Daily

Bright Horizons Family Solutions (NYSE:BFAM – Get Free Report) posted its 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. Bright Horizons Family Solutions had a return on equity of 12.86% and a net margin of 3.98%. The company had revenue of $719.00 million for the quarter, compared to the consensus estimate of $713.16 million. During the same period in the previous year, the business earned $0.78 earnings per share. The firm’s revenue for the quarter was up 11.3% on a year-over-year basis. 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

BFAM stock traded up $2.11 during trading on Wednesday, hitting $117.99. 489,051 shares of the company traded hands, compared to its average volume of 359,741. Bright Horizons Family Solutions has a 1 year low of $80.29 and a 1 year high of $141.90. The company has a market cap of $6.85 billion, a PE ratio of 66.61 and a beta of 1.49. The stock’s 50-day simple moving average is $135.84 and its 200 day simple moving average is $122.28. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.56 and a quick ratio of 0.56.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Robert W. Baird boosted their price objective on shares of Bright Horizons Family Solutions from $131.00 to $140.00 and gave the company a “neutral” rating in a research report on Tuesday. Morgan Stanley lifted their price objective on shares of Bright Horizons Family Solutions from $100.00 to $108.00 and gave the company an “underweight” rating in a report on Tuesday. JPMorgan Chase & Co. lifted their target price on Bright Horizons Family Solutions from $137.00 to $149.00 and gave the company an “overweight” rating in a research report on Tuesday. The Goldman Sachs Group increased their price target on Bright Horizons Family Solutions from $142.00 to $162.00 and gave the stock a “buy” rating in a research report on Tuesday. Finally, BMO Capital Markets upped their price objective on shares of Bright Horizons Family Solutions from $104.00 to $122.00 and gave the stock a “market perform” rating in a research note on Friday, August 2nd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $141.13.

Read Our Latest Stock Analysis on BFAM

Insiders Place Their Bets

In related news, Director Mary Ann Tocio sold 2,500 shares of the business’s stock in a transaction on Thursday, August 8th. The shares were 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 directly owns 30,257 shares in the company, valued at $3,961,549.01. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, COO Mary Lou Burke sold 800 shares of Bright Horizons Family Solutions stock in a transaction on Monday, October 7th. The shares were sold at an average price of $136.94, for a total value of $109,552.00. Following the sale, the chief operating officer now owns 31,025 shares of the company’s stock, valued at approximately $4,248,563.50. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mary Ann Tocio sold 2,500 shares of the company’s 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 transaction, the director now owns 30,257 shares of the company’s stock, valued at $3,961,549.01. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 4,100 shares of company stock worth $549,397. Corporate insiders own 1.22% of the company’s stock.

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.

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