CBIZ (NYSE:CBZ) Posts Earnings Results, Misses Expectations By $0.07 EPS

Key Points

• CBIZ reported quarterly EPS of $1.21, missing analyst expectations of $1.28 by $0.07, while revenue increased 1.2% year over year. EPS improved from $1.01 in the same quarter last year.
• CBIZ shares traded near $54.95, close to their 12-month high of $56.41, with a market capitalization of approximately $2.98 billion.
• Analyst sentiment is largely cautious: one analyst rates CBIZ a Buy and seven rate it a Hold, resulting in a consensus Hold rating and a $44.50 target price.

CBIZ (NYSE:CBZ - Get Free Report) posted its quarterly earnings data on Wednesday. The business services provider reported $1.21 EPS for the quarter, missing the consensus estimate of $1.28 by ($0.07), Briefing.com reports. The firm's quarterly revenue was up 1.2% compared to the same quarter last year. During the same quarter last year, the company earned $1.01 EPS.

CBIZ Stock Performance

NYSE CBZ traded up $0.14 during trading hours on Wednesday, hitting $54.95. 720,172 shares of the company traded hands, compared to its average volume of 1,179,886. The business's 50-day moving average is $54.72 and its 200-day moving average is $40.32. CBIZ has a twelve month low of $24.29 and a twelve month high of $56.41. The stock has a market capitalization of $2.98 billion, a price-to-earnings ratio of 22.43 and a beta of 0.91.

Wall Street Analyst Weigh In

Several equities research analysts have commented on CBZ shares. CJS Securities cut CBIZ from a "market outperform" rating to a "market perform" rating and set a $55.00 target price on the stock. in a research note on Thursday, July 30th. Barrington Research downgraded shares of CBIZ from an "outperform" rating to a "hold" rating in a report on Wednesday, September 16th. William Blair lowered shares of CBIZ from an "outperform" rating to a "market perform" rating in a research report on Wednesday, September 23rd. Weiss Ratings upgraded shares of CBIZ from a "hold (c-)" rating to a "hold (c)" rating in a report on Tuesday, August 11th. Finally, US Capital Advisors set a $55.00 target price on shares of CBIZ in a research report on Thursday, July 30th. One equities research analyst has rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat, CBIZ presently has an average rating of "Hold" and a consensus target price of $44.50.

CBIZ Company Profile

CBIZ, Inc is a professional services company that provides accounting, tax, advisory and business consulting services to businesses, individuals and nonprofit organizations. Its offerings include financial reporting, tax planning and compliance, valuation, transaction support, internal audit and risk-management consulting.

The company has also provided employee and insurance services, including employee benefits consulting, payroll and human resources support, property and casualty insurance brokerage, retirement plan services and risk-management solutions.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.