CBIZ, Inc. (CBZ) Expected to Announce Earnings of $0.24 Per Share

Equities analysts forecast that CBIZ, Inc. (NYSE:CBZ) will report earnings per share of $0.24 for the current fiscal quarter, according to Zacks. Zero analysts have issued estimates for CBIZ’s earnings. CBIZ reported earnings per share of $0.20 during the same quarter last year, which would suggest a positive year over year growth rate of 20%. The company is expected to issue its next quarterly earnings report on Thursday, August 2nd.

According to Zacks, analysts expect that CBIZ will report full year earnings of $1.10 per share for the current fiscal year. For the next year, analysts expect that the firm will report earnings of $1.19 per share. Zacks’ EPS averages are an average based on a survey of sell-side research analysts that follow CBIZ.

CBIZ (NYSE:CBZ) last announced its quarterly earnings results on Thursday, April 26th. The business services provider reported $0.64 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.06. The firm had revenue of $266.10 million for the quarter, compared to analysts’ expectations of $254.43 million. CBIZ had a net margin of 6.97% and a return on equity of 11.01%. CBIZ’s revenue was up 10.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.45 earnings per share.

A number of research analysts have weighed in on CBZ shares. Zacks Investment Research raised shares of CBIZ from a “hold” rating to a “buy” rating and set a $21.00 price target on the stock in a research report on Wednesday, February 21st. ValuEngine cut shares of CBIZ from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, May 2nd. Finally, Sidoti assumed coverage on shares of CBIZ in a research report on Tuesday. They set a “buy” rating on the stock.

In other CBIZ 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 completion of the sale, the insider now owns 288,059 shares in the company, valued at $6,193,268.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through 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 shares were sold at an average price of $20.31, for a total transaction of $203,100.00. Following the sale, the director now owns 21,955 shares of the company’s stock, valued at approximately $445,906.05. The disclosure for this sale can be found here. In the last 90 days, insiders sold 25,963 shares of company stock valued at $543,765. Insiders own 7.20% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in the business. Allianz Asset Management GmbH increased its stake in CBIZ by 11.8% during the first quarter. Allianz Asset Management GmbH now owns 203,259 shares of the business services provider’s stock valued at $3,709,000 after purchasing an additional 21,442 shares during the last quarter. Royal Bank of Canada lifted its stake in CBIZ by 122.0% during the first quarter. Royal Bank of Canada now owns 103,100 shares of the business services provider’s stock valued at $1,882,000 after buying an additional 56,664 shares in the last quarter. Millennium Management LLC lifted its stake in CBIZ by 91.4% during the first quarter. Millennium Management LLC now owns 232,884 shares of the business services provider’s stock valued at $4,250,000 after buying an additional 111,215 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. lifted its stake in CBIZ by 102.0% during the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 21,264 shares of the business services provider’s stock valued at $388,000 after buying an additional 10,735 shares in the last quarter. Finally, Barclays PLC lifted its stake in CBIZ by 314.8% during the first quarter. Barclays PLC now owns 58,939 shares of the business services provider’s stock valued at $1,076,000 after buying an additional 44,729 shares in the last quarter. Hedge funds and other institutional investors own 85.13% of the company’s stock.

CBIZ traded up $0.50, reaching $22.50, during midday trading on Monday, MarketBeat.com reports. 4,594 shares of the company’s stock traded hands, compared to its average volume of 202,584. The stock has a market cap of $1.18 billion, a price-to-earnings ratio of 25.52 and a beta of 0.73. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 0.38. CBIZ has a fifty-two week low of $14.05 and a fifty-two week high of $22.00.

CBIZ announced that its Board of Directors has initiated a share repurchase program on Wednesday, February 14th that authorizes the company to repurchase 5,000,000 shares. This repurchase authorization authorizes the business services provider to buy shares of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

About CBIZ

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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