Consensus Cloud Solutions (NASDAQ:CCSI) Issues Q3 2024 Earnings Guidance

Posted by Trevor Kearing on Aug 8th, 2024

Consensus Cloud Solutions (NASDAQ:CCSI – Get Free Report) issued an update on its third quarter 2024 earnings guidance on Thursday morning. The company provided EPS guidance of 1.250-1.350 for the period, compared to the consensus EPS estimate of 1.240. The company issued revenue guidance of $83.5 million-$87.5 million, compared to the consensus revenue estimate of $85.3 million.

Consensus Cloud Solutions Trading Up 2.0 %

Consensus Cloud Solutions stock traded up $0.38 during mid-day trading on Thursday, hitting $19.48. The company had a trading volume of 142,528 shares, compared to its average volume of 284,087. The company has a market capitalization of $374.41 million, a price-to-earnings ratio of 4.22 and a beta of 1.35. The company’s fifty day moving average is $18.58 and its 200-day moving average is $17.13. Consensus Cloud Solutions has a 12-month low of $11.62 and a 12-month high of $33.54.

Consensus Cloud Solutions (NASDAQ:CCSI – Get Free Report) last announced its quarterly earnings results on Wednesday, May 8th. The company reported $1.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.06 by $0.30. Consensus Cloud Solutions had a net margin of 24.55% and a negative return on equity of 49.60%. The firm had revenue of $88.15 million for the quarter, compared to the consensus estimate of $87.29 million. As a group, sell-side analysts expect that Consensus Cloud Solutions will post 4.51 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

CCSI has been the topic of a number of recent analyst reports. Oppenheimer lowered their price target on Consensus Cloud Solutions from $29.00 to $20.00 and set an outperform rating on the stock in a research report on Thursday, May 9th. Wedbush reissued an outperform rating and issued a $24.00 price target on shares of Consensus Cloud Solutions in a research note on Friday, May 10th.

Get Our Latest Stock Analysis on Consensus Cloud Solutions

About Consensus Cloud Solutions

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Consensus Cloud Solutions, Inc, together with its subsidiaries, provides information delivery services with a software-as-a-service platform worldwide. The company offers eFax Corporate, a digital cloud-fax technology; Unite, a single platform that allows the user to choose between various protocols to send and receive healthcare information and can integrate into an existing electronic health record system or stand-alone if no EHR is present.