CBIZ (CBZ) Updates FY18 Earnings Guidance

CBIZ (NYSE:CBZ) updated its FY18 earnings guidance on Wednesday. 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 $1.08. The company issued revenue guidance of $898-924 million, compared to the consensus revenue estimate of $923.14 million.CBIZ also updated its FY 2018 guidance to $1.04-1.08 EPS.

A number of analysts recently weighed in on CBZ shares. Zacks Investment Research lowered shares of CBIZ from a hold rating to a sell rating in a research report on Friday, August 3rd. William Blair started coverage on shares of CBIZ in a research report on Monday, September 17th. They issued an outperform rating on the stock.

CBIZ stock traded down $0.21 during midday trading on Thursday, reaching $21.97. The stock had a trading volume of 253,947 shares, compared to its average volume of 213,754. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.46 and a quick ratio of 1.46. CBIZ has a 52-week low of $14.35 and a 52-week high of $24.38. The firm has a market capitalization of $1.26 billion, a P/E ratio of 25.25 and a beta of 0.61.

CBIZ (NYSE:CBZ) last posted its quarterly earnings data on Wednesday, October 31st. The business services provider reported $0.24 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.22 by $0.02. CBIZ had a net margin of 7.04% and a return on equity of 10.99%. The company had revenue of $224.25 million for the quarter, compared to analyst estimates of $218.67 million. During the same period in the prior year, the company posted $0.18 EPS. The firm’s revenue for the quarter was up 8.0% on a year-over-year basis. Research analysts anticipate that CBIZ will post 1.08 earnings per share for the current fiscal year.

In related news, insider Chris Spurio sold 35,841 shares of the stock in a transaction dated Tuesday, September 11th. The shares were sold at an average price of $23.81, for a total value of $853,374.21. Following the sale, the insider now directly owns 209,917 shares of the company’s stock, valued at approximately $4,998,123.77. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Michael W. Gleespen sold 27,000 shares of the stock in a transaction dated Thursday, August 23rd. The stock was sold at an average price of $23.42, for a total transaction of $632,340.00. Following the completion of the sale, the insider now directly owns 118,880 shares in the company, valued at $2,784,169.60. The disclosure for this sale can be found here. Insiders sold a total of 102,841 shares of company stock worth $2,414,914 over the last three months. 7.20% of the stock is currently owned by corporate insiders.

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, litigation support, federal and state governmental healthcare compliance, valuation services, real estate consulting, and internal audit outsourcing services.

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Earnings History and Estimates for CBIZ (NYSE:CBZ)

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