Brokerages predict that CBIZ, Inc. (NYSE:CBZ) will announce $0.22 earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Zero analysts have made estimates for CBIZ’s earnings. CBIZ reported earnings per share of $0.18 in the same quarter last year, which would indicate a positive year over year growth rate of 22.2%. The company is scheduled to announce its next earnings report on Thursday, November 1st.
On average, analysts expect that CBIZ will report full year earnings of $1.07 per share for the current year. For the next fiscal year, analysts forecast that the business will post earnings of $1.19 per share. Zacks’ earnings per share averages are a mean average based on a survey of research firms that that provide coverage for CBIZ.
CBIZ (NYSE:CBZ) last released its earnings results on Thursday, August 2nd. The business services provider reported $0.23 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.22 by $0.01. The company had revenue of $232.60 million for the quarter, compared to analyst estimates of $223.86 million. CBIZ had a net margin of 7.04% and a return on equity of 10.99%. The firm’s quarterly revenue was up 10.2% on a year-over-year basis. During the same period in the prior year, the business earned $0.20 EPS.
A number of equities research analysts have issued reports on CBZ shares. Zacks Investment Research upgraded shares of CBIZ from a “sell” rating to a “hold” rating in a report on Monday, September 3rd. Sidoti started coverage on shares of CBIZ in a report on Tuesday, June 12th. They set a “buy” rating on the stock.
In other news, insider Michael W. Gleespen sold 27,000 shares of the firm’s stock in a transaction on Thursday, August 23rd. The shares were sold at an average price of $23.42, for a total value of $632,340.00. Following the sale, the insider now directly owns 118,880 shares in the company, valued at approximately $2,784,169.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Donald V. Weir sold 10,000 shares of the firm’s stock in a transaction on Friday, August 31st. The shares were sold at an average price of $23.77, for a total transaction of $237,700.00. Following the completion of the sale, the director now owns 11,955 shares in the company, valued at $284,170.35. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 103,163 shares of company stock worth $2,356,217. 7.20% of the stock is owned by company insiders.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Victory Capital Management Inc. raised its holdings in shares of CBIZ by 15.9% in the 2nd quarter. Victory Capital Management Inc. now owns 21,297 shares of the business services provider’s stock valued at $490,000 after purchasing an additional 2,921 shares in the last quarter. Granite Investment Partners LLC raised its holdings in shares of CBIZ by 0.5% in the 2nd quarter. Granite Investment Partners LLC now owns 830,844 shares of the business services provider’s stock valued at $19,110,000 after purchasing an additional 3,811 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of CBIZ by 1.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 379,650 shares of the business services provider’s stock valued at $8,732,000 after purchasing an additional 3,870 shares in the last quarter. Macquarie Group Ltd. raised its holdings in shares of CBIZ by 89.6% in the 2nd quarter. Macquarie Group Ltd. now owns 9,976 shares of the business services provider’s stock valued at $229,000 after purchasing an additional 4,715 shares in the last quarter. Finally, Bowling Portfolio Management LLC acquired a new stake in shares of CBIZ in the 2nd quarter valued at $222,000. Institutional investors and hedge funds own 86.92% of the company’s stock.
CBIZ stock opened at $24.00 on Wednesday. The company has a market cap of $1.33 billion, a price-to-earnings ratio of 22.02 and a beta of 0.63. CBIZ has a 52-week low of $14.35 and a 52-week high of $24.35. The company has a current ratio of 1.46, a quick ratio of 1.46 and a debt-to-equity ratio of 0.31.
CBIZ Company Profile
CBIZ, Inc, through its subsidiaries, provides professional business services, products, and solutions in the United States and Canada. It offers its services through three practice groups: Financial Services, Benefits and Insurance Services, and National Practices. The Financial Services practice group provides accounting and tax compliance and consulting, litigation support, federal and state governmental healthcare compliance, valuation services, real estate consulting, and internal audit outsourcing services.
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