Bright Horizons Family Solutions (NYSE:BFAM) Shares Up 9.3% Following Earnings Beat

Posted by on May 4th, 2023

Shares of Bright Horizons Family Solutions Inc. (NYSE:BFAM – Get Rating) shot up 9.3% on Wednesday following a better than expected earnings announcement. The stock traded as high as $81.30 and last traded at $80.98. 486,474 shares were traded during mid-day trading, an increase of 14% from the average session volume of 426,663 shares. The stock had previously closed at $74.09.

The company reported $0.67 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.04. Bright Horizons Family Solutions had a net margin of 3.99% and a return on equity of 11.93%. The company had revenue of $529.52 million during the quarter, compared to the consensus estimate of $528.43 million.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Robert W. Baird lifted their target price on shares of Bright Horizons Family Solutions from $68.00 to $76.00 and gave the stock a “neutral” rating in a report on Friday, February 17th. Citigroup boosted their target price on shares of Bright Horizons Family Solutions from $92.00 to $95.00 and gave the company a “buy” rating in a research report on Friday, March 3rd. TheStreet raised shares of Bright Horizons Family Solutions from a “d+” rating to a “c-” rating in a report on Monday, January 30th. The Goldman Sachs Group reduced their target price on shares of Bright Horizons Family Solutions from $94.00 to $82.00 and set a “buy” rating on the stock in a report on Friday, February 17th. Finally, BMO Capital Markets reduced their price objective on shares of Bright Horizons Family Solutions from $84.00 to $81.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 21st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Bright Horizons Family Solutions has an average rating of “Hold” and a consensus price target of $77.57.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Prudential Financial Inc. raised its holdings in Bright Horizons Family Solutions by 3.7% during the second quarter. Prudential Financial Inc. now owns 3,999 shares of the company’s stock worth $339,000 after buying an additional 142 shares during the last quarter. Eagle Bay Advisors LLC raised its holdings in Bright Horizons Family Solutions by 33.0% during the first quarter. Eagle Bay Advisors LLC now owns 617 shares of the company’s stock worth $48,000 after buying an additional 153 shares during the last quarter. American Century Companies Inc. raised its holdings in Bright Horizons Family Solutions by 9.6% during the first quarter. American Century Companies Inc. now owns 1,885 shares of the company’s stock worth $250,000 after buying an additional 165 shares during the last quarter. Arizona State Retirement System raised its holdings in Bright Horizons Family Solutions by 1.1% during the fourth quarter. Arizona State Retirement System now owns 16,313 shares of the company’s stock worth $1,029,000 after buying an additional 170 shares during the last quarter. Finally, Global Retirement Partners LLC raised its holdings in Bright Horizons Family Solutions by 52.3% during the third quarter. Global Retirement Partners LLC now owns 498 shares of the company’s stock worth $33,000 after buying an additional 171 shares during the last quarter.

Bright Horizons Family Solutions Stock Performance

The company’s fifty day moving average price is $77.97 and its 200 day moving average price is $72.85. The company has a market cap of $4.73 billion, a PE ratio of 59.74 and a beta of 1.22. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.44 and a quick ratio of 0.44.

About Bright Horizons Family Solutions

(Get Rating)

Bright Horizons Family Solutions, Inc engages in the provision of child care and early education, dependent care, and workforce education services. It operates through the following segments: Full-Service Center-Based Child Care, Back-Up Care Services, Educational Advisory and Other Services. The Full-Service Center-Based Child Care segment consists of traditional center-based child care and early education, preschool, and elementary education.

Featured Articles

Receive News & Ratings for Bright Horizons Family Solutions Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bright Horizons Family Solutions and related companies with MarketBeat.com's FREE daily email newsletter.