Analysts Expect Bright Horizons Family Solutions Inc. (BFAM) Will Post Quarterly Sales of $427.53 Million

Equities research analysts expect Bright Horizons Family Solutions Inc. (NYSE:BFAM) to post $427.53 million in sales for the current quarter, Zacks reports. Three analysts have issued estimates for Bright Horizons Family Solutions’ earnings, with the lowest sales estimate coming in at $424.89 million and the highest estimate coming in at $430.42 million. Bright Horizons Family Solutions reported sales of $383.93 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 11.4%. The business is expected to announce its next earnings report after the market closes on Wednesday, November 1st.

On average, analysts expect that Bright Horizons Family Solutions will report full-year sales of $427.53 million for the current fiscal year, with estimates ranging from $1.73 billion to $1.74 billion. For the next year, analysts anticipate that the business will post sales of $1.87 billion per share, with estimates ranging from $1.87 billion to $1.88 billion. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for Bright Horizons Family Solutions.

Bright Horizons Family Solutions (NYSE:BFAM) last issued its quarterly earnings data on Tuesday, August 1st. The company reported $0.70 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.67 by $0.03. Bright Horizons Family Solutions had a return on equity of 19.19% and a net margin of 6.91%. The company had revenue of $445.55 million during the quarter, compared to analysts’ expectations of $443.90 million. During the same quarter in the previous year, the business earned $0.61 earnings per share. The firm’s revenue for the quarter was up 10.8% on a year-over-year basis.

BFAM has been the subject of several research reports. BidaskClub lowered Bright Horizons Family Solutions from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, June 27th. Zacks Investment Research lowered Bright Horizons Family Solutions from a “buy” rating to a “hold” rating in a research report on Wednesday, July 5th. Citigroup Inc. initiated coverage on Bright Horizons Family Solutions in a research report on Tuesday, July 18th. They issued a “buy” rating and a $90.00 target price for the company. BMO Capital Markets reiterated a “market perform” rating and issued a $85.00 target price (up previously from $83.00) on shares of Bright Horizons Family Solutions in a research report on Thursday, August 3rd. Finally, Royal Bank Of Canada reiterated a “buy” rating on shares of Bright Horizons Family Solutions in a research report on Wednesday, August 9th. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $85.83.

Shares of Bright Horizons Family Solutions (BFAM) traded up 0.45% during midday trading on Thursday, reaching $85.29. The company’s stock had a trading volume of 24,137 shares. The firm has a market capitalization of $5.05 billion, a PE ratio of 45.51 and a beta of 0.14. Bright Horizons Family Solutions has a 1-year low of $59.00 and a 1-year high of $88.13. The company’s 50-day moving average price is $82.95 and its 200 day moving average price is $78.56.

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In related news, CFO Elizabeth J. Boland sold 19,681 shares of the business’s stock in a transaction that occurred on Tuesday, October 17th. The stock was sold at an average price of $85.16, for a total transaction of $1,676,033.96. Following the completion of the transaction, the chief financial officer now owns 152,977 shares in the company, valued at approximately $13,027,521.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Mary Ann Tocio sold 6,666 shares of the business’s stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $79.11, for a total value of $527,347.26. Following the transaction, the director now owns 67,284 shares of the company’s stock, valued at approximately $5,322,837.24. The disclosure for this sale can be found here. Insiders have sold a total of 80,444 shares of company stock valued at $6,516,524 in the last 90 days. Insiders own 2.90% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in Bright Horizons Family Solutions by 11.8% during the 2nd quarter. Vanguard Group Inc. now owns 3,888,575 shares of the company’s stock valued at $300,237,000 after purchasing an additional 410,335 shares during the period. BlackRock Inc. boosted its position in Bright Horizons Family Solutions by 73,144.9% during the 1st quarter. BlackRock Inc. now owns 2,743,023 shares of the company’s stock valued at $198,843,000 after purchasing an additional 2,739,278 shares during the period. Alliancebernstein L.P. boosted its position in Bright Horizons Family Solutions by 8.7% during the 2nd quarter. Alliancebernstein L.P. now owns 2,008,801 shares of the company’s stock valued at $155,100,000 after purchasing an additional 161,469 shares during the period. Neuberger Berman Group LLC boosted its position in Bright Horizons Family Solutions by 108.4% during the 2nd quarter. Neuberger Berman Group LLC now owns 1,153,425 shares of the company’s stock valued at $89,056,000 after purchasing an additional 599,907 shares during the period. Finally, State Street Corp boosted its position in Bright Horizons Family Solutions by 3.2% during the 1st quarter. State Street Corp now owns 840,444 shares of the company’s stock valued at $60,918,000 after purchasing an additional 25,721 shares during the period. Institutional investors and hedge funds own 97.09% of the company’s stock.

Bright Horizons Family Solutions Company Profile

Bright Horizons Family Solutions Inc is a provider of child care, early education and other services. The Company provides services under multi-year contracts with employers offering child care and other dependent care solutions as part of their employee benefits packages. Its segments include full service center-based care services, back-up dependent care services and other educational advisory services.

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