CBIZ, Inc. (CBZ) Expected to Announce Earnings of $0.24 Per Share
Wall Street brokerages forecast that CBIZ, Inc. (NYSE:CBZ) will announce earnings per share (EPS) of $0.24 for the current fiscal quarter, Zacks reports. Zero analysts have provided estimates for CBIZ’s earnings. CBIZ reported earnings of $0.20 per share during the same quarter last year, which would suggest a positive year-over-year growth rate of 20%. The business is scheduled to report its next quarterly earnings results on Thursday, August 2nd.
On average, analysts expect that CBIZ will report full-year earnings of $1.10 per share for the current fiscal year. For the next fiscal year, analysts anticipate that the business will post earnings of $1.19 per share. Zacks Investment Research’s earnings per share averages are an average based on a survey of analysts that that provide coverage for CBIZ.
CBIZ (NYSE:CBZ) last released its earnings results on Thursday, April 26th. The business services provider reported $0.64 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.58 by $0.06. CBIZ had a net margin of 6.97% and a return on equity of 11.01%. The business had revenue of $266.10 million for the quarter, compared to analysts’ expectations of $254.43 million. During the same period last year, the company earned $0.45 earnings per share. The company’s quarterly revenue was up 10.2% on a year-over-year basis.
In other news, insider Ware H. Grove sold 14,963 shares of the business’s stock in a transaction on Monday, June 11th. The shares were sold at an average price of $21.50, for a total transaction of $321,704.50. Following the transaction, the insider now directly owns 288,059 shares of the company’s stock, valued at $6,193,268.50. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Donald V. Weir sold 10,000 shares of the business’s stock in a transaction on Thursday, May 24th. The stock was sold at an average price of $20.31, for a total transaction of $203,100.00. Following the transaction, the director now directly owns 21,955 shares in the company, valued at $445,906.05. The disclosure for this sale can be found here. Over the last three months, insiders have sold 25,963 shares of company stock worth $543,765. Corporate insiders own 7.20% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Hennessy Advisors Inc. acquired a new position in shares of CBIZ in the 1st quarter valued at about $4,033,000. P2 Capital Partners LLC increased its position in CBIZ by 5.1% in the first quarter. P2 Capital Partners LLC now owns 2,694,902 shares of the business services provider’s stock worth $49,182,000 after buying an additional 129,902 shares during the last quarter. Millennium Management LLC increased its position in CBIZ by 91.4% in the first quarter. Millennium Management LLC now owns 232,884 shares of the business services provider’s stock worth $4,250,000 after buying an additional 111,215 shares during the last quarter. Burgundy Asset Management Ltd. boosted its holdings in shares of CBIZ by 2.2% in the fourth quarter. Burgundy Asset Management Ltd. now owns 4,897,020 shares of the business services provider’s stock worth $75,659,000 after acquiring an additional 106,039 shares during the period. Finally, Renaissance Technologies LLC boosted its holdings in shares of CBIZ by 10.5% in the fourth quarter. Renaissance Technologies LLC now owns 963,807 shares of the business services provider’s stock worth $14,891,000 after acquiring an additional 91,381 shares during the period. 85.13% of the stock is currently owned by institutional investors and hedge funds.
Shares of CBZ traded up $0.50 during mid-day trading on Monday, hitting $22.50. The company had a trading volume of 4,594 shares, compared to its average volume of 202,584. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.61 and a current ratio of 1.61. CBIZ has a 1-year low of $14.05 and a 1-year high of $22.00. The stock has a market capitalization of $1.18 billion, a PE ratio of 25.52 and a beta of 0.73.
CBIZ declared that its board has approved a share repurchase program on Wednesday, February 14th that permits the company to buyback 5,000,000 outstanding shares. This buyback authorization permits the business services provider to repurchase shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company’s management believes its stock is undervalued.
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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