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 Thursday morning. The company provided earnings per share guidance of 3.300-3.400 for the period, compared to the consensus earnings per share estimate of 3.140. The company issued revenue guidance of $2.7 billion-$2.7 billion, compared to the consensus revenue estimate of $2.7 billion. Bright Horizons Family Solutions also updated its FY24 guidance to $3.30-3.40 EPS.

Analyst Ratings Changes

BFAM has been the topic of several research analyst reports. The Goldman Sachs Group raised their target price on shares of Bright Horizons Family Solutions from $125.00 to $142.00 and gave the stock a buy rating in a research report on Friday. JPMorgan Chase & Co. lifted their price target on shares of Bright Horizons Family Solutions from $119.00 to $137.00 and gave the company an overweight rating in a report on Friday. BMO Capital Markets upped their price objective on Bright Horizons Family Solutions from $104.00 to $122.00 and gave the stock a market perform rating in a report on Friday. StockNews.com raised Bright Horizons Family Solutions from a sell rating to a hold rating in a research report on Friday, May 3rd. Finally, Robert W. Baird boosted their price target on Bright Horizons Family Solutions from $115.00 to $131.00 and gave the company a neutral rating in a research report on Friday. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Bright Horizons Family Solutions has an average rating of Hold and an average target price of $128.43.

Bright Horizons Family Solutions Trading Up 14.1 %

Shares of Bright Horizons Family Solutions stock traded up $16.72 during trading hours on Friday, hitting $135.15. The company’s stock had a trading volume of 1,596,166 shares, compared to its average volume of 310,371. The business has a fifty day moving average of $110.98 and a 200 day moving average of $109.29. 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 company has a market capitalization of $7.84 billion, a PE ratio of 95.18, a P/E/G ratio of 4.44 and a beta of 1.45.

Bright Horizons Family Solutions (NYSE:BFAM) last announced its quarterly earnings results on Thursday, August 1st. The company reported $0.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.15. Bright Horizons Family Solutions had a return on equity of 13.08% and a net margin of 3.98%. The firm had revenue of $670.10 million during the quarter, compared to the consensus estimate of $666.17 million. During the same period in the prior year, the firm earned $0.54 EPS. The firm’s quarterly revenue was up 11.1% compared to the same quarter last year. As a group, equities analysts forecast that Bright Horizons Family Solutions will post 2.76 EPS for the current year.

Insider Activity

In related news, COO Mary Lou Burke sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $120.00, for a total transaction of $120,000.00. Following the transaction, the chief operating officer now directly owns 35,925 shares of the company’s stock, valued at approximately $4,311,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Stephen Howard Kramer sold 11,250 shares of the firm’s stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $113.95, for a total transaction of $1,281,937.50. Following the completion of the sale, the chief executive officer now directly owns 122,573 shares in the company, valued at $13,967,193.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Mary Lou Burke sold 1,000 shares of Bright Horizons Family Solutions stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $120.00, for a total value of $120,000.00. Following the sale, the chief operating officer now directly owns 35,925 shares in the company, valued at $4,311,000. The disclosure for this sale can be found here. Over the last quarter, insiders sold 28,447 shares of company stock worth $3,186,710. 1.22% of the stock is currently owned by corporate insiders.

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.