CBIZ, Inc. to Post Q3 2017 Earnings of $0.23 Per Share, First Analysis Forecasts (CBZ)
CBIZ, Inc. (NYSE:CBZ) – Equities researchers at First Analysis boosted their Q3 2017 earnings per share (EPS) estimates for CBIZ in a research report issued on Thursday. First Analysis analyst J. Macdonald now expects that the business services provider will post earnings of $0.23 per share for the quarter, up from their previous forecast of $0.21. First Analysis also issued estimates for CBIZ’s Q4 2017 earnings at ($0.01) EPS.
CBIZ (NYSE:CBZ) last issued its earnings results on Thursday, August 3rd. The business services provider reported $0.20 EPS for the quarter, beating the consensus estimate of $0.18 by $0.02. CBIZ had a return on equity of 9.42% and a net margin of 5.54%. The business had revenue of $211 million for the quarter, compared to the consensus estimate of $207.42 million. During the same period last year, the business posted $0.16 EPS. The company’s revenue was up 7.1% compared to the same quarter last year. TRADEMARK VIOLATION NOTICE: “CBIZ, Inc. to Post Q3 2017 Earnings of $0.23 Per Share, First Analysis Forecasts (CBZ)” was posted by American Banking News and is owned by of American Banking News. If you are viewing this story on another site, it was copied illegally and republished in violation of US and international trademark & copyright law. The correct version of this story can be read at https://www.americanbankingnews.com/2017/08/07/cbiz-inc-to-post-q3-2017-earnings-of-0-23-per-share-first-analysis-forecasts-cbz.html.
Other equities analysts have also issued reports about the stock. Zacks Investment Research raised shares of CBIZ from a “hold” rating to a “buy” rating and set a $18.00 price target on the stock in a report on Friday, April 28th. ValuEngine raised shares of CBIZ from a “hold” rating to a “buy” rating in a report on Friday, June 2nd.
Shares of CBIZ (NYSE:CBZ) opened at 14.85 on Monday. The firm’s 50-day moving average price is $15.11 and its 200 day moving average price is $14.39. CBIZ has a 52 week low of $10.73 and a 52 week high of $15.90. The stock has a market capitalization of $794.67 million, a P/E ratio of 18.59 and a beta of 0.91.
A number of institutional investors have recently added to or reduced their stakes in the company. Two Sigma Securities LLC purchased a new position in CBIZ during the first quarter valued at about $141,000. BNP Paribas Arbitrage SA raised its position in CBIZ by 147.0% in the second quarter. BNP Paribas Arbitrage SA now owns 9,637 shares of the business services provider’s stock valued at $145,000 after buying an additional 5,735 shares in the last quarter. Gotham Asset Management LLC purchased a new position in CBIZ during the first quarter valued at about $151,000. Ameriprise Financial Inc. raised its position in CBIZ by 2.6% in the first quarter. Ameriprise Financial Inc. now owns 13,710 shares of the business services provider’s stock valued at $186,000 after buying an additional 350 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd purchased a new position in CBIZ during the first quarter valued at about $215,000. 84.77% of the stock is currently owned by institutional investors and hedge funds.
In other CBIZ news, insider Ware H. Grove sold 22,927 shares of CBIZ stock in a transaction on Thursday, June 15th. The shares were sold at an average price of $15.25, for a total value of $349,636.75. Following the transaction, the insider now directly owns 262,673 shares of the company’s stock, valued at $4,005,763.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Steven L. Gerard sold 2,000 shares of CBIZ stock in a transaction on Wednesday, May 10th. The stock was sold at an average price of $15.50, for a total transaction of $31,000.00. Following the completion of the transaction, the director now directly owns 325,483 shares in the company, valued at $5,044,986.50. The disclosure for this sale can be found here. Insiders sold 131,521 shares of company stock worth $2,004,233 over the last ninety days. Corporate insiders own 7.20% of the company’s stock.
CBIZ, Inc (CBIZ) is engaged in the professional services business. The Company operates its professional services business through acquiring and integrating accounting and financial service providers, group health benefits consulting firms, property and casualty brokerage firms, payroll service providers, and valuation and other service firms throughout the United States.
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