Bright Horizons Family Solutions Inc. (BFAM) Updates FY17 Earnings Guidance

Bright Horizons Family Solutions Inc. (NYSE:BFAM) issued an update on its FY17 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $2.61-2.65 for the period, compared to the Thomson Reuters consensus estimate of $2.63. The company issued revenue guidance of $1.727-1.758 billion, compared to the consensus revenue estimate of $1.74 billion.

Bright Horizons Family Solutions Inc. (NYSE BFAM) traded down 0.16% on Friday, hitting $79.16. 242,148 shares of the company were exchanged. The stock has a 50 day moving average of $78.23 and a 200 day moving average of $74.39. Bright Horizons Family Solutions Inc. has a 52 week low of $59.00 and a 52 week high of $82.00. The company has a market capitalization of $4.68 billion, a price-to-earnings ratio of 42.24 and a beta of 0.12.

Bright Horizons Family Solutions (NYSE:BFAM) last posted its quarterly earnings results on Tuesday, August 1st. The company reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.67 by $0.03. Bright Horizons Family Solutions had a return on equity of 19.19% and a net margin of 6.91%. The business had revenue of $445.55 million for the quarter, compared to the consensus estimate of $443.90 million. During the same quarter in the prior year, the company earned $0.61 EPS. The business’s revenue was up 10.8% compared to the same quarter last year. Analysts predict that Bright Horizons Family Solutions Inc. will post $2.64 EPS for the current fiscal year.

BFAM has been the topic of a number of recent research reports. Zacks Investment Research raised Bright Horizons Family Solutions from a hold rating to a buy rating and set a $87.00 price target on the stock in a research report on Friday, June 2nd. BidaskClub downgraded Bright Horizons Family Solutions from a strong-buy rating to a buy rating in a research report on Tuesday, June 27th. Citigroup Inc. started coverage on Bright Horizons Family Solutions in a research note on Tuesday, July 18th. They set a buy rating and a $90.00 price objective for the company. Finally, Royal Bank Of Canada restated a buy rating on shares of Bright Horizons Family Solutions in a research note on Wednesday. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock has an average rating of Buy and an average price target of $81.75.

In other news, COO Mary Lou Burke sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $78.56, for a total value of $392,800.00. Following the transaction, the chief operating officer now owns 32,354 shares in the company, valued at $2,541,730.24. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Mandy Berman sold 3,699 shares of Bright Horizons Family Solutions stock in a transaction that occurred on Thursday, June 15th. The stock was sold at an average price of $75.94, for a total value of $280,902.06. Following the transaction, the chief accounting officer now owns 16,125 shares in the company, valued at approximately $1,224,532.50. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 4,193,394 shares of company stock worth $332,246,231. 2.90% of the stock is owned by corporate insiders.

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About Bright Horizons Family Solutions

Bright Horizons Family Solutions Inc is a provider of child care, early education and other services. The Company provides services under multi-year contracts with employers offering child care and other dependent care solutions as part of their employee benefits packages. Its segments include full service center-based care services, back-up dependent care services and other educational advisory services.

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