CBIZ (CBZ) Issues Earnings Results, Beats Estimates By $0.03 EPS
CBIZ (NYSE:CBZ) announced its quarterly earnings data on Thursday. The business services provider reported $0.04 EPS for the quarter, topping the Zacks’ consensus estimate of $0.01 by $0.03, Bloomberg Earnings reports. CBIZ had a return on equity of 9.33% and a net margin of 5.89%. The firm had revenue of $195.00 million for the quarter, compared to the consensus estimate of $191.40 million. During the same quarter last year, the business posted ($0.01) earnings per share. The firm’s revenue was up 9.1% compared to the same quarter last year.
Shares of CBIZ (CBZ) traded down $0.05 during trading on Friday, reaching $17.85. The company had a trading volume of 380,159 shares, compared to its average volume of 196,624. CBIZ has a 52-week low of $13.00 and a 52-week high of $18.33. The stock has a market capitalization of $981.83, a P/E ratio of 19.83 and a beta of 0.82. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.54 and a current ratio of 1.54.
In related news, Director Steven L. Gerard sold 33,731 shares of CBIZ stock in a transaction that occurred on Wednesday, December 13th. The stock was sold at an average price of $15.02, for a total transaction of $506,639.62. Following the transaction, the director now owns 349,363 shares in the company, valued at $5,247,432.26. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Steven L. Gerard sold 26,423 shares of CBIZ stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $15.03, for a total value of $397,137.69. Following the transaction, the director now owns 349,906 shares in the company, valued at approximately $5,259,087.18. The disclosure for this sale can be found here. In the last quarter, insiders have sold 105,053 shares of company stock worth $1,575,512. 6.90% of the stock is currently owned by company insiders.
CBIZ declared that its Board of Directors has approved a share buyback program on Wednesday, February 14th that authorizes the company to buyback 5,000,000 outstanding shares. This buyback authorization authorizes the business services provider to reacquire shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board believes its stock is undervalued.
CBZ has been the topic of a number of analyst reports. Zacks Investment Research downgraded CBIZ from a “hold” rating to a “sell” rating in a research report on Thursday, February 1st. ValuEngine downgraded CBIZ from a “buy” rating to a “hold” rating in a research report on Friday, December 1st.
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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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