Bright Horizons Family Solutions (NYSE:BFAM) Updates FY24 Earnings Guidance

Bright Horizons Family Solutions (NYSE:BFAM) updated its FY24 earnings guidance on Monday. The company provided earnings per share guidance of $3.37-$3.42 for the period, compared to the consensus earnings per share estimate of $3.36. The company issued revenue guidance of $2.675 billion, compared to the consensus revenue estimate of $2.68 billion. Bright Horizons Family Solutions also updated its FY 2024 guidance to 3.370-3.420 EPS.

Analysts Set New Price Targets

BFAM has been the subject of several research analyst reports. Barclays boosted their price objective on shares of Bright Horizons Family Solutions from $125.00 to $160.00 and gave the stock an “overweight” rating in a research report on Friday, August 30th. Morgan Stanley upped their price target on Bright Horizons Family Solutions from $100.00 to $108.00 and gave the company an “underweight” rating in a research note on Tuesday. BMO Capital Markets lifted their price objective on Bright Horizons Family Solutions from $104.00 to $122.00 and gave the stock a “market perform” rating in a research report on Friday, August 2nd. Robert W. Baird raised their target price on shares of Bright Horizons Family Solutions from $131.00 to $140.00 and gave the company a “neutral” rating in a research note on Tuesday. Finally, UBS Group boosted their price target on shares of Bright Horizons Family Solutions from $145.00 to $148.00 and gave the stock a “neutral” rating in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $141.13.

Bright Horizons Family Solutions Trading Up 2.8 %

Shares of NYSE:BFAM traded up $3.24 during mid-day trading on Wednesday, reaching $119.12. The stock had a trading volume of 336,767 shares, compared to its average volume of 359,030. The firm has a 50 day simple moving average of $135.84 and a two-hundred day simple moving average of $122.28. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 0.73. The firm has a market cap of $6.91 billion, a PE ratio of 66.61 and a beta of 1.49. Bright Horizons Family Solutions has a twelve month low of $80.29 and a twelve month high of $141.90.

Bright Horizons Family Solutions (NYSE:BFAM) last announced its quarterly earnings results on Monday, November 4th. The company reported $1.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.06 by $0.05. The company had revenue of $719.00 million during the quarter, compared to analyst estimates of $713.16 million. Bright Horizons Family Solutions had a net margin of 3.98% and a return on equity of 12.86%. The firm’s revenue was up 11.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.78 EPS. On average, research analysts predict that Bright Horizons Family Solutions will post 2.98 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Mary Ann Tocio sold 2,500 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $130.93, for a total value of $327,325.00. Following the completion of the transaction, the director now directly owns 30,257 shares in the company, valued at approximately $3,961,549.01. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Mary Ann Tocio sold 2,500 shares of the stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $130.93, for a total transaction of $327,325.00. Following the completion of the sale, the director now owns 30,257 shares of the company’s stock, valued at $3,961,549.01. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Mary Lou Burke sold 800 shares of the firm’s stock in a transaction on Monday, October 7th. The stock was sold at an average price of $136.94, for a total transaction of $109,552.00. Following the sale, the chief operating officer now owns 31,025 shares in the company, valued at approximately $4,248,563.50. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 4,100 shares of company stock worth $549,397 over the last ninety days. 1.22% of the stock is currently 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.