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

Consensus Cloud Solutions (NASDAQ:CCSI) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share guidance of 5.450-5.550 for the period, compared to the consensus earnings per share estimate of 5.500. The company issued revenue guidance of $346.0 million-$350.0 million, compared to the consensus revenue estimate of $344.1 million. Consensus Cloud Solutions also updated its Q4 2024 guidance to 1.140-1.240 EPS.

Consensus Cloud Solutions Trading Down 3.9 %

NASDAQ CCSI traded down $1.03 during trading hours on Friday, reaching $25.05. 176,109 shares of the company traded hands, compared to its average volume of 127,914. The company has a 50 day moving average of $22.43 and a two-hundred day moving average of $19.87. The stock has a market capitalization of $483.47 million, a PE ratio of 5.33 and a beta of 1.38. Consensus Cloud Solutions has a 12 month low of $11.62 and a 12 month high of $28.09.

Consensus Cloud Solutions (NASDAQ:CCSI) last released its quarterly earnings data on Thursday, August 8th. The company reported $1.26 EPS for the quarter, topping analysts’ consensus estimates of $1.11 by $0.15. The firm had revenue of $87.50 million during the quarter, compared to the consensus estimate of $87.10 million. Consensus Cloud Solutions had a net margin of 25.72% and a negative return on equity of 57.77%. On average, equities research analysts anticipate that Consensus Cloud Solutions will post 4.86 earnings per share for the current year.

Analyst Upgrades and Downgrades

CCSI has been the subject of several recent research reports. BTIG Research raised Consensus Cloud Solutions from a “neutral” rating to a “buy” rating and set a $30.00 target price for the company in a report on Wednesday, August 21st. Oppenheimer increased their target price on Consensus Cloud Solutions from $23.00 to $27.00 and gave the stock an “outperform” rating in a research report on Friday. JPMorgan Chase & Co. downgraded shares of Consensus Cloud Solutions from a “neutral” rating to an “underweight” rating and boosted their price target for the company from $19.00 to $21.00 in a report on Monday, September 9th. Finally, Wedbush upped their price target on shares of Consensus Cloud Solutions from $24.00 to $32.00 and gave the stock an “outperform” rating in a research report on Friday. Two research analysts have rated the stock with a sell rating and three have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $26.00.

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.