Zacks: Brokerages Anticipate Bright Horizons Family Solutions Inc (BFAM) Will Post Quarterly Sales of $489.70 Million

Analysts expect Bright Horizons Family Solutions Inc (NYSE:BFAM) to announce $489.70 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Bright Horizons Family Solutions’ earnings. Bright Horizons Family Solutions reported sales of $445.55 million during the same quarter last year, which indicates a positive year over year growth rate of 9.9%. The firm is scheduled to issue its next quarterly earnings results on Wednesday, November 7th.

According to Zacks, analysts expect that Bright Horizons Family Solutions will report full-year sales of $1.90 billion for the current financial year. For the next fiscal year, analysts forecast that the business will report sales of $2.05 billion per share, with estimates ranging from $2.05 billion to $2.06 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that follow Bright Horizons Family Solutions.

Bright Horizons Family Solutions (NYSE:BFAM) last issued its quarterly earnings results on Thursday, August 2nd. The company reported $0.87 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.85 by $0.02. Bright Horizons Family Solutions had a return on equity of 20.90% and a net margin of 8.77%. The firm had revenue of $490.00 million during the quarter, compared to the consensus estimate of $486.63 million. During the same period last year, the business posted $0.74 EPS. The business’s revenue was up 10.0% compared to the same quarter last year.

Several brokerages have recently commented on BFAM. Zacks Investment Research upgraded Bright Horizons Family Solutions from a “sell” rating to a “hold” rating in a research note on Monday, September 3rd. BMO Capital Markets raised their target price on Bright Horizons Family Solutions from $114.00 to $118.00 and gave the company a “market perform” rating in a research note on Monday, August 6th. Finally, Citigroup downgraded Bright Horizons Family Solutions from a “buy” rating to a “neutral” rating in a research note on Friday, August 3rd. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the stock. Bright Horizons Family Solutions currently has an average rating of “Hold” and an average target price of $104.91.

In other news, CAO Mandy Berman sold 500 shares of the firm’s stock in a transaction dated Monday, July 2nd. The stock was sold at an average price of $101.68, for a total value of $50,840.00. Following the completion of the sale, the chief accounting officer now directly owns 20,880 shares in the company, valued at approximately $2,123,078.40. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Elizabeth J. Boland sold 5,087 shares of the firm’s stock in a transaction dated Wednesday, June 20th. The shares were sold at an average price of $106.22, for a total value of $540,341.14. Following the completion of the sale, the chief financial officer now owns 138,026 shares of the company’s stock, valued at $14,661,121.72. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 53,017 shares of company stock valued at $5,984,740. 2.20% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in BFAM. Jennison Associates LLC bought a new position in Bright Horizons Family Solutions in the 2nd quarter valued at about $37,250,000. BlackRock Inc. lifted its position in Bright Horizons Family Solutions by 11.6% in the 2nd quarter. BlackRock Inc. now owns 2,783,957 shares of the company’s stock valued at $285,410,000 after acquiring an additional 288,576 shares in the last quarter. Victory Capital Management Inc. bought a new position in Bright Horizons Family Solutions in the 1st quarter valued at about $23,844,000. Jane Street Group LLC bought a new position in Bright Horizons Family Solutions in the 1st quarter valued at about $20,255,000. Finally, Millennium Management LLC lifted its position in Bright Horizons Family Solutions by 335.9% in the 1st quarter. Millennium Management LLC now owns 259,720 shares of the company’s stock valued at $25,899,000 after acquiring an additional 200,138 shares in the last quarter. 98.99% of the stock is currently owned by institutional investors and hedge funds.

Shares of Bright Horizons Family Solutions stock opened at $116.51 on Friday. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.34 and a quick ratio of 0.34. Bright Horizons Family Solutions has a 1-year low of $80.29 and a 1-year high of $120.07. The stock has a market cap of $6.75 billion, a price-to-earnings ratio of 45.87, a price-to-earnings-growth ratio of 2.66 and a beta of 0.12.

Bright Horizons Family Solutions Company Profile

Bright Horizons Family Solutions Inc provides child care and early education, back-up dependent care, and educational advisory services for employers and families. The company operates through three segments: Full Service Center-Based Child Care, Back-Up Dependent Care, and Other Educational Advisory Services.

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