Consensus Cloud Solutions (NASDAQ:CCSI) Releases FY 2024 Earnings Guidance

Consensus Cloud Solutions (NASDAQ:CCSI) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of 5.080-5.310 for the period, compared to the consensus estimate of 5.110. The company issued revenue guidance of $338.0 million-$353.0 million, compared to the consensus revenue estimate of $343.7 million. Consensus Cloud Solutions also updated its Q2 2024 guidance to 1.300-1.360 EPS.

Consensus Cloud Solutions Stock Up 1.3 %

CCSI traded up $0.17 during mid-day trading on Wednesday, reaching $13.23. 278,879 shares of the company traded hands, compared to its average volume of 336,846. The stock has a market capitalization of $254.28 million, a P/E ratio of 3.34 and a beta of 1.07. Consensus Cloud Solutions has a 52-week low of $11.62 and a 52-week high of $38.11. The company’s fifty day moving average price is $13.78 and its 200-day moving average price is $18.95.

Consensus Cloud Solutions (NASDAQ:CCSI) last released its earnings results on Wednesday, February 21st. The company reported $0.90 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.90. Consensus Cloud Solutions had a net margin of 21.32% and a negative return on equity of 40.27%. The company had revenue of $87.75 million for the quarter, compared to analysts’ expectations of $89.05 million. As a group, sell-side analysts forecast that Consensus Cloud Solutions will post 4.33 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on CCSI shares. Citigroup lowered shares of Consensus Cloud Solutions from a neutral rating to a sell rating and dropped their target price for the stock from $25.00 to $20.00 in a research report on Tuesday, January 9th. BTIG Research assumed coverage on Consensus Cloud Solutions in a research report on Friday, January 26th. They set a neutral rating for the company.

About Consensus Cloud Solutions

Consensus Cloud Solutions, Inc, together with its subsidiaries, provides information delivery services with a software-as-a-service platform worldwide. The company offers eFax Corporate, a digital cloud-fax technology; Unite, a single platform that allows the user to choose between various protocols to send and receive healthcare information and can integrate into an existing electronic health record system or stand-alone if no EHR is present.