Consensus Cloud Solutions (NASDAQ:CCSI) Updates FY 2022 Earnings Guidance

Consensus Cloud Solutions (NASDAQ:CCSIGet Rating) updated its FY 2022 earnings guidance on Tuesday. The company provided EPS guidance of $5.36-$5.50 for the period, compared to the consensus EPS estimate of $5.43. The company issued revenue guidance of $375.00 million-$385.00 million, compared to the consensus revenue estimate of $377.72 million.

Consensus Cloud Solutions Price Performance

NASDAQ:CCSI opened at 50.87 on Wednesday. The stock’s 50 day simple moving average is 52.38 and its 200-day simple moving average is 51.80. Consensus Cloud Solutions has a 12-month low of 34.81 and a 12-month high of 69.31.

Consensus Cloud Solutions (NASDAQ:CCSIGet Rating) last announced its quarterly earnings data on Tuesday, August 9th. The company reported 1.24 earnings per share for the quarter, beating analysts’ consensus estimates of 1.12 by 0.12. The company had revenue of 93.16 million for the quarter, compared to analyst estimates of 94.00 million. Consensus Cloud Solutions had a return on equity of 141.93% and a net margin of 15.78%. On average, analysts forecast that Consensus Cloud Solutions will post 4.33 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CCSI. Oppenheimer cut their price target on shares of Consensus Cloud Solutions from $75.00 to $65.00 and set an outperform rating for the company in a report on Monday, July 18th. Citigroup started coverage on shares of Consensus Cloud Solutions in a research report on Friday, August 19th. They issued a neutral rating and a $65.00 target price on the stock. Finally, Wedbush lifted their price target on shares of Consensus Cloud Solutions from $56.00 to $67.00 in a research report on Wednesday, August 10th.

Institutional Trading of Consensus Cloud Solutions

Several institutional investors have recently added to or reduced their stakes in CCSI. Ensign Peak Advisors Inc bought a new stake in Consensus Cloud Solutions in the first quarter valued at $364,000. Renaissance Technologies LLC acquired a new position in shares of Consensus Cloud Solutions during the first quarter valued at $361,000. Royal Bank of Canada bought a new stake in shares of Consensus Cloud Solutions during the first quarter valued at about $294,000. Bank of Montreal Can acquired a new stake in Consensus Cloud Solutions in the first quarter worth about $272,000. Finally, ProShare Advisors LLC acquired a new position in Consensus Cloud Solutions during the 1st quarter valued at about $267,000. Institutional investors own 88.47% of the company’s stock.

About Consensus Cloud Solutions

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Consensus Cloud Solutions, Inc, together with its subsidiaries, provides information delivery services with a software-as-a-service platform worldwide. Its products and solutions include eFax, an online faxing solution, as well as MyFax, MetroFax, Sfax, SRfax, and other brands; eFax Corporate, a digital cloud-fax technology; jsign, which provides electronic and digital signature solutions; Unite, a single platform that allows the user to choose between several protocols to send and receive healthcare information in an environment that can integrate into an existing electronic health record (EHR) system or stand-alone if no EHR is present; Signal, a solution that integrates with a hospital's EHR system and uses rules-based triggering logic to automatically send admit, discharge, and transfer notifications using cloud fax and direct secure messaging technology; and Clarity that transforms unstructured documents into structured actionable data.

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Earnings History and Estimates for Consensus Cloud Solutions (NASDAQ:CCSI)

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