Bright Horizons Family Solutions (NYSE:BFAM) Announces Earnings Results

Bright Horizons Family Solutions (NYSE:BFAM) posted its earnings results on Thursday. The company reported $0.88 EPS for the quarter, beating analysts’ consensus estimates of $0.73 by $0.15, Briefing.com reports. Bright Horizons Family Solutions had a net margin of 3.98% and a return on equity of 13.08%. The company had revenue of $670.10 million for the quarter, compared to analysts’ expectations of $666.17 million. During the same quarter in the prior year, the company posted $0.54 earnings per share. Bright Horizons Family Solutions’s revenue for the quarter was up 11.1% compared to the same quarter last year. Bright Horizons Family Solutions updated its FY24 guidance to $3.30-3.40 EPS and its FY 2024 guidance to 3.300-3.400 EPS.

Bright Horizons Family Solutions Stock Up 14.1 %

Bright Horizons Family Solutions stock traded up $16.72 during mid-day trading on Friday, hitting $135.15. The company had a trading volume of 1,596,166 shares, compared to its average volume of 310,371. The stock has a market cap of $7.84 billion, a price-to-earnings ratio of 95.18, a PEG ratio of 4.44 and a beta of 1.45. Bright Horizons Family Solutions has a 1 year low of $71.65 and a 1 year high of $136.22. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.76. The business has a fifty day moving average of $110.98 and a 200 day moving average of $109.21.

Insider Buying and Selling at Bright Horizons Family Solutions

In other news, CAO Jason Janoff sold 6,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $113.79, for a total transaction of $682,740.00. Following the transaction, the chief accounting officer now directly owns 8,955 shares in the company, valued at $1,018,989.45. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Bright Horizons Family Solutions news, COO Mary Lou Burke sold 800 shares of the firm’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $106.42, for a total value of $85,136.00. Following the completion of the sale, the chief operating officer now owns 37,725 shares of the company’s stock, valued at $4,014,694.50. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CAO Jason Janoff sold 6,000 shares of the firm’s stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $113.79, for a total value of $682,740.00. Following the completion of the sale, the chief accounting officer now directly owns 8,955 shares of the company’s stock, valued at approximately $1,018,989.45. The disclosure for this sale can be found here. Insiders have sold 28,447 shares of company stock worth $3,186,710 over the last three months. Insiders own 1.22% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on BFAM. The Goldman Sachs Group upped their target price on shares of Bright Horizons Family Solutions from $125.00 to $142.00 and gave the company a “buy” rating in a research report on Friday. StockNews.com raised shares of Bright Horizons Family Solutions from a “sell” rating to a “hold” rating in a research report on Friday, May 3rd. JPMorgan Chase & Co. increased their price target on shares of Bright Horizons Family Solutions from $119.00 to $137.00 and gave the stock an “overweight” rating in a research report on Friday. Deutsche Bank Aktiengesellschaft raised their target price on shares of Bright Horizons Family Solutions from $114.00 to $140.00 and gave the company a “hold” rating in a report on Friday. Finally, Robert W. Baird raised their target price on shares of Bright Horizons Family Solutions from $115.00 to $131.00 and gave the company a “neutral” rating in a report on Friday. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $128.43.

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.