CBIZ (NYSE:CBZ) Issues Quarterly Earnings Results

CBIZ (NYSE:CBZ) posted its quarterly earnings results on Wednesday. The business services provider reported $1.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.28 by ($0.07), Briefing.com reports. CBIZ’s revenue for the quarter was up 1.2% compared to the same quarter last year. During the same period in the previous year, the company earned $1.01 EPS.

CBIZ Stock Up 0.2%

CBIZ stock traded up $0.14 during trading hours on Wednesday, reaching $54.95. 720,172 shares of the company’s stock were exchanged, compared to its average volume of 1,179,886. The firm’s 50 day simple moving average is $54.72 and its 200 day simple moving average is $40.32. CBIZ has a twelve month low of $24.29 and a twelve month high of $56.41. The firm has a market capitalization of $2.98 billion, a PE ratio of 22.43 and a beta of 0.91.

Wall Street Analysts Forecast Growth

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

About CBIZ

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.