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 Monday morning. The company provided earnings per share guidance of 3.370-3.420 for the period, compared to the consensus earnings per share estimate of 3.360. 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 $3.37-$3.42 EPS.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. JPMorgan Chase & Co. increased their price target on shares of Bright Horizons Family Solutions from $137.00 to $149.00 and gave the company an “overweight” rating in a research report on Tuesday. Morgan Stanley lifted their price target on Bright Horizons Family Solutions from $100.00 to $108.00 and gave the company an “underweight” rating in a research report on Tuesday. The Goldman Sachs Group raised their price objective on Bright Horizons Family Solutions from $142.00 to $162.00 and gave the company a “buy” rating in a research report on Tuesday. Deutsche Bank Aktiengesellschaft lifted their price objective on Bright Horizons Family Solutions from $114.00 to $140.00 and gave the company a “hold” rating in a research note on Friday, August 2nd. Finally, Barclays increased their price target on shares of Bright Horizons Family Solutions from $125.00 to $160.00 and gave the company an “overweight” rating in a report on Friday, August 30th. One 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. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $140.75.

Bright Horizons Family Solutions Price Performance

BFAM traded down $14.94 during trading on Tuesday, reaching $117.89. 453,746 shares of the company traded hands, compared to its average volume of 355,384. Bright Horizons Family Solutions has a 12-month low of $80.29 and a 12-month high of $141.90. The firm has a fifty day simple moving average of $136.30 and a 200 day simple moving average of $122.20. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.56 and a current ratio of 0.56. The company has a market cap of $6.84 billion, a P/E ratio of 68.43 and a beta of 1.49.

Insiders Place Their Bets

In other Bright Horizons Family Solutions news, Director Mary Ann Tocio sold 2,500 shares of Bright Horizons Family Solutions stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $130.93, for a total value of $327,325.00. Following the sale, the director now owns 30,257 shares of the company’s stock, valued at $3,961,549.01. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, COO Mary Lou Burke sold 800 shares of the firm’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $136.94, for a total value of $109,552.00. Following the completion of the sale, the chief operating officer now directly owns 31,025 shares of the company’s stock, valued at $4,248,563.50. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Mary Ann Tocio sold 2,500 shares of Bright Horizons Family Solutions 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 directly owns 30,257 shares of the company’s stock, valued at $3,961,549.01. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 4,100 shares of company stock worth $549,397 in the last 90 days. 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.