Bright Horizons Family Solutions (NYSE:BFAM) Updates FY 2024 Earnings Guidance

Bright Horizons Family Solutions (NYSE:BFAM) updated its FY 2024 earnings guidance on Friday. The company provided earnings per share guidance of 3.000-3.200 for the period, compared to the consensus earnings per share estimate of 3.080. The company issued revenue guidance of $2.6 billion-$2.7 billion, compared to the consensus revenue estimate of $2.7 billion.

Analyst Ratings Changes

BFAM has been the subject of several recent research reports. The Goldman Sachs Group boosted their target price on shares of Bright Horizons Family Solutions from $108.00 to $123.00 and gave the stock a buy rating in a research report on Wednesday, April 10th. Robert W. Baird boosted their target price on shares of Bright Horizons Family Solutions from $105.00 to $115.00 and gave the stock a neutral rating in a research report on Friday. Barclays raised shares of Bright Horizons Family Solutions from an equal weight rating to an overweight rating and boosted their target price for the stock from $100.00 to $125.00 in a research report on Wednesday, February 28th. BMO Capital Markets boosted their target price on shares of Bright Horizons Family Solutions from $102.00 to $104.00 and gave the stock a market perform rating in a research report on Friday. Finally, JPMorgan Chase & Co. upped their price objective on shares of Bright Horizons Family Solutions from $107.00 to $119.00 and gave the stock an overweight rating in a report on Friday. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of Hold and an average target price of $106.63.

Bright Horizons Family Solutions Price Performance

Shares of BFAM traded up $3.29 during trading hours on Monday, hitting $114.52. The stock had a trading volume of 759,599 shares, compared to its average volume of 344,130. The company’s fifty day moving average is $111.11 and its two-hundred day moving average is $98.95. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.56 and a quick ratio of 0.56. Bright Horizons Family Solutions has a 52 week low of $71.65 and a 52 week high of $119.21. The stock has a market capitalization of $6.64 billion, a price-to-earnings ratio of 78.33, a P/E/G ratio of 4.28 and a beta of 1.38.

Bright Horizons Family Solutions (NYSE:BFAM) last posted its earnings results on Tuesday, February 13th. The company reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.12. Bright Horizons Family Solutions had a net margin of 3.34% and a return on equity of 12.14%. The business had revenue of $615.65 million for the quarter, compared to analyst estimates of $588.63 million. On average, analysts anticipate that Bright Horizons Family Solutions will post 2.69 EPS for the current year.

Insiders Place Their Bets

In other news, COO Mary Lou Burke sold 1,500 shares of the firm’s stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $105.00, for a total value of $157,500.00. Following the transaction, the chief operating officer now owns 37,253 shares of the company’s stock, valued at approximately $3,911,565. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Elizabeth J. Boland sold 15,640 shares of the firm’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $113.77, for a total value of $1,779,362.80. Following the transaction, the chief financial officer now owns 89,983 shares of the company’s stock, valued at approximately $10,237,365.91. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Mary Lou Burke sold 1,500 shares of the firm’s stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $105.00, for a total transaction of $157,500.00. Following the completion of the transaction, the chief operating officer now directly owns 37,253 shares in the company, valued at approximately $3,911,565. The disclosure for this sale can be found here. Insiders own 1.28% of the company’s stock.

Bright Horizons Family Solutions Company Profile

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.