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

Bright Horizons Family Solutions (NYSE:BFAM) updated its FY 2024 earnings guidance on Monday. The company provided earnings per share (EPS) guidance of 3.370-3.420 for the period, compared to the consensus 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.

Bright Horizons Family Solutions Stock Down 0.5 %

NYSE:BFAM traded down $0.71 during midday trading on Monday, reaching $132.83. 740,709 shares of the stock traded hands, compared to its average volume of 354,923. The business has a 50-day moving average of $136.39 and a two-hundred day moving average of $122.00. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.56 and a current ratio of 0.56. Bright Horizons Family Solutions has a 12-month low of $80.29 and a 12-month high of $141.90. The stock has a market capitalization of $7.71 billion, a PE ratio of 76.34 and a beta of 1.49.

Bright Horizons Family Solutions (NYSE:BFAM) last issued its earnings results on Thursday, August 1st. The company reported $0.88 EPS for the quarter, beating analysts’ consensus estimates of $0.73 by $0.15. Bright Horizons Family Solutions had a return on equity of 12.86% and a net margin of 3.98%. The firm had revenue of $670.10 million for the quarter, compared to analyst estimates of $666.17 million. During the same quarter in the prior year, the firm earned $0.54 earnings per share. Bright Horizons Family Solutions’s revenue for the quarter was up 11.1% on a year-over-year basis. On average, equities analysts forecast that Bright Horizons Family Solutions will post 2.98 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have issued reports on BFAM shares. JPMorgan Chase & Co. upped their target price on Bright Horizons Family Solutions from $119.00 to $137.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. UBS Group upped their price target on Bright Horizons Family Solutions from $128.00 to $145.00 and gave the stock a “neutral” rating in a report on Tuesday, October 8th. Barclays boosted their price target on shares of Bright Horizons Family Solutions from $125.00 to $160.00 and gave the stock an “overweight” rating in a report on Friday, August 30th. The Goldman Sachs Group increased their price objective on Bright Horizons Family Solutions from $125.00 to $142.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Finally, BMO Capital Markets boosted their price target on shares of Bright Horizons Family Solutions from $104.00 to $122.00 and gave the company a “market perform” rating in a research report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $134.63.

Insiders Place Their Bets

In related news, COO Mary Lou Burke sold 800 shares of the stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $140.65, for a total value of $112,520.00. Following the completion of the transaction, the chief operating officer now owns 31,825 shares of the company’s stock, valued at approximately $4,476,186.25. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, Director Mary Ann Tocio sold 2,500 shares of Bright Horizons Family Solutions stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $130.93, for a total value of $327,325.00. Following the sale, the director now directly owns 30,257 shares in the company, valued at $3,961,549.01. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Mary Lou Burke sold 800 shares of the business’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $140.65, for a total value of $112,520.00. Following the transaction, the chief operating officer now owns 31,825 shares of the company’s stock, valued at $4,476,186.25. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 4,100 shares of company stock worth $549,397 over the last quarter. 1.22% of the stock is owned by corporate insiders.

About Bright Horizons Family Solutions

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.