Paychex (NASDAQ:PAYX) Releases FY21 Earnings Guidance


Share on StockTwits

Paychex (NASDAQ:PAYX) issued an update on its FY21 earnings guidance on Tuesday morning. The company provided EPS guidance of $2.94-3.00 for the period, compared to the Thomson Reuters consensus EPS estimate of $2.94. The company issued revenue guidance of $3.96-4.04 billion, compared to the consensus revenue estimate of $3.98 billion.Paychex also updated its FY 2021
Pre-Market guidance to 2.94-3.00 EPS.

A number of analysts have recently commented on PAYX shares. Smith Barney Citigroup lifted their target price on Paychex from $93.00 to $105.00 in a research report on Tuesday, January 5th. The Goldman Sachs Group boosted their price objective on Paychex from $85.00 to $89.00 and gave the company a sell rating in a research note on Wednesday. Morgan Stanley lowered their target price on shares of Paychex from $91.00 to $90.00 and set an equal weight rating on the stock in a research report on Wednesday. Jefferies Financial Group reiterated a hold rating and issued a $95.00 price target (up previously from $85.00) on shares of Paychex in a research report on Wednesday, December 23rd. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on shares of Paychex from $81.00 to $98.00 and gave the stock a hold rating in a research report on Monday, January 4th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the stock. The stock presently has an average rating of Hold and an average price target of $93.00.

Shares of Paychex stock opened at $94.81 on Thursday. The company has a 50-day moving average of $94.82 and a two-hundred day moving average of $89.98. The stock has a market cap of $34.19 billion, a PE ratio of 32.36, a price-to-earnings-growth ratio of 3.81 and a beta of 0.90. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.28. Paychex has a 12-month low of $60.00 and a 12-month high of $101.15.

Paychex (NASDAQ:PAYX) last posted its earnings results on Monday, April 5th. The business services provider reported $0.96 EPS for the quarter, topping the Zacks’ consensus estimate of $0.92 by $0.04. Paychex had a return on equity of 37.99% and a net margin of 26.66%. The company had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.11 billion. During the same period in the previous year, the business earned $0.97 earnings per share. Paychex’s quarterly revenue was down 2.7% compared to the same quarter last year. On average, sell-side analysts forecast that Paychex will post 2.94 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Thursday, February 25th. Stockholders of record on Monday, February 1st were issued a dividend of $0.62 per share. The ex-dividend date of this dividend was Friday, January 29th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 2.62%. Paychex’s dividend payout ratio (DPR) is presently 82.67%.

In related news, CEO Martin Mucci sold 50,000 shares of the company’s stock in a transaction that occurred on Friday, February 26th. The shares were sold at an average price of $91.09, for a total transaction of $4,554,500.00. Also, VP John B. Gibson sold 82,488 shares of the stock in a transaction that occurred on Tuesday, February 2nd. The stock was sold at an average price of $89.79, for a total transaction of $7,406,597.52. 11.70% of the stock is currently owned by company insiders.

About Paychex

Paychex, Inc provides integrated human capital management solutions for human resources (HR), payroll, benefits, and insurance services for small- to medium-sized businesses in the United States and Europe. The company offers payroll processing services; payroll tax administration services; employee payment services; and regulatory compliance services, such as new-hire reporting and garnishment processing.

See Also: What is an Initial Public Offering (IPO)?

Earnings History and Estimates for Paychex (NASDAQ:PAYX)

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