CBIZ (NYSE:CBZ) Posts Quarterly Earnings Results, Misses Expectations By $0.07 EPS

CBIZ (NYSE:CBZ) released its earnings results on Wednesday. The business services provider reported $1.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.28 by ($0.07), Briefing.com reports. During the same period in the prior year, the business posted $1.01 earnings per share. The business’s revenue was up 1.2% compared to the same quarter last year.

CBIZ Stock Performance

NYSE CBZ traded up $0.14 during mid-day trading on Wednesday, reaching $54.95. 1,258,040 shares of the stock were exchanged, compared to its average volume of 1,180,022. CBIZ has a 1-year low of $24.29 and a 1-year high of $56.41. The business’s fifty day simple moving average is $54.72 and its 200 day simple moving average is $40.32. The stock has a market capitalization of $2.98 billion, a PE ratio of 22.43 and a beta of 0.91.

Analyst Upgrades and Downgrades

CBZ has been the subject of several recent analyst reports. US Capital Advisors set a $55.00 price objective on shares of CBIZ in a research note on Thursday, July 30th. CJS Securities cut shares of CBIZ from a “market outperform” rating to a “market perform” rating and set a $55.00 target price for the company. in a report on Thursday, July 30th. Weiss Ratings raised shares of CBIZ from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, August 11th. Barrington Research downgraded shares of CBIZ from an “outperform” rating to a “hold” rating in a research report on Wednesday, September 16th. Finally, William Blair lowered CBIZ from an “outperform” rating to a “market perform” rating in a research note on Wednesday, September 23rd. One investment analyst has rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $44.50.

CBIZ Company Profile

CBIZ, Inc is a professional services company that provides accounting, tax, advisory and business consulting services to businesses, individuals and nonprofit organizations. Its offerings include financial reporting, tax planning and compliance, valuation, transaction support, internal audit and risk-management consulting.

The company has also provided employee and insurance services, including employee benefits consulting, payroll and human resources support, property and casualty insurance brokerage, retirement plan services and risk-management solutions.