Bright Horizons Family Solutions (NYSE:BFAM) Releases FY 2024 Earnings Guidance

Bright Horizons Family Solutions (NYSE:BFAM) updated its FY 2024 earnings guidance on Thursday. 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.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. BMO Capital Markets lifted their target price on Bright Horizons Family Solutions from $102.00 to $104.00 and gave the company a market perform rating in a research note on Friday, May 3rd. Robert W. Baird upped their target price on shares of Bright Horizons Family Solutions from $105.00 to $115.00 and gave the stock a neutral rating in a research report on Friday, May 3rd. StockNews.com upgraded shares of Bright Horizons Family Solutions from a sell rating to a hold rating in a report on Friday, May 3rd. The Goldman Sachs Group increased their price objective on shares of Bright Horizons Family Solutions from $108.00 to $123.00 and gave the company a buy rating in a report on Wednesday, April 10th. Finally, JPMorgan Chase & Co. lifted their target price on Bright Horizons Family Solutions from $107.00 to $119.00 and gave the stock an overweight rating in a report on Friday, May 3rd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of Hold and a consensus target price of $107.43.

Bright Horizons Family Solutions Stock Down 1.7 %

NYSE BFAM traded down $1.99 on Thursday, reaching $118.26. 392,567 shares of the stock traded hands, compared to its average volume of 337,767. Bright Horizons Family Solutions has a 12 month low of $71.65 and a 12 month high of $122.67. The company has a market cap of $6.86 billion, a price-to-earnings ratio of 83.03, a PEG ratio of 4.59 and a beta of 1.45. The company has a fifty day moving average price of $110.24 and a 200-day moving average price of $108.89. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.51 and a current ratio of 0.51.

Bright Horizons Family Solutions (NYSE:BFAM) last released its quarterly earnings data on Thursday, May 2nd. The company reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.06. The company had revenue of $622.71 million during the quarter, compared to analyst estimates of $614.60 million. Bright Horizons Family Solutions had a net margin of 3.34% and a return on equity of 12.00%. As a group, research analysts forecast that Bright Horizons Family Solutions will post 2.76 EPS for the current fiscal year.

Insider Transactions at Bright Horizons Family Solutions

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

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.