CBIZ (CBZ) Updates FY18 Earnings Guidance

CBIZ (NYSE:CBZ) updated its FY18 earnings guidance on Thursday. The company provided earnings per share guidance of $1.04-$1.08 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $1.05. The company issued revenue guidance of $898.11-$923.8 million, compared to the consensus revenue estimate of $904.92 million.

Several brokerages have commented on CBZ. Zacks Investment Research downgraded CBIZ from a hold rating to a sell rating in a research note on Thursday, February 8th. ValuEngine upgraded CBIZ from a buy rating to a strong-buy rating in a research note on Thursday, March 1st.

CBZ traded up $0.65 during trading on Thursday, hitting $18.95. 157,775 shares of the company’s stock traded hands, compared to its average volume of 192,984. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.34. CBIZ has a 12-month low of $14.05 and a 12-month high of $19.65. The company has a market cap of $1,017.66, a price-to-earnings ratio of 21.78 and a beta of 0.71.

CBIZ (NYSE:CBZ) last released its quarterly earnings results on Wednesday, April 25th. The business services provider reported $0.64 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.58 by $0.06. The firm had revenue of $266.10 million for the quarter, compared to the consensus estimate of $254.43 million. CBIZ had a return on equity of 9.28% and a net margin of 5.89%. The company’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same period last year, the business posted $0.45 EPS. research analysts forecast that CBIZ will post 1.05 EPS for the current year.

CBIZ declared that its board has initiated a share buyback program on Wednesday, February 14th that permits the company to repurchase 5,000,000 outstanding shares. This repurchase authorization permits the business services provider to purchase shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.

In other news, Director Steven L. Gerard sold 109,947 shares of the firm’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $18.13, for a total value of $1,993,339.11. Following the transaction, the director now directly owns 346,976 shares in the company, valued at approximately $6,290,674.88. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Ware H. Grove sold 25,000 shares of the firm’s stock in a transaction on Tuesday, March 6th. The stock was sold at an average price of $18.35, for a total value of $458,750.00. The disclosure for this sale can be found here. Company insiders own 7.20% of the company’s stock.

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, government health care consulting, financial advisory, valuation, litigation support, risk and advisory, real estate consulting, and internal audit outsourcing services.

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