Bright Horizons Family Solutions Inc. (BFAM) Expected to Post Quarterly Sales of $427.53 Million

Wall Street analysts expect that Bright Horizons Family Solutions Inc. (NYSE:BFAM) will report sales of $427.53 million for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for Bright Horizons Family Solutions’ earnings, with the lowest sales estimate coming in at $424.89 million and the highest estimate coming in at $430.42 million. Bright Horizons Family Solutions reported sales of $383.93 million during the same quarter last year, which indicates a positive year over year growth rate of 11.4%. The firm is scheduled to issue its next earnings results on Tuesday, November 7th.

According to Zacks, analysts expect that Bright Horizons Family Solutions will report full-year sales of $427.53 million for the current fiscal year, with estimates ranging from $1.73 billion to $1.74 billion. For the next fiscal year, analysts anticipate that the business will report sales of $1.87 billion per share, with estimates ranging from $1.87 billion to $1.88 billion. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that cover Bright Horizons Family Solutions.

Bright Horizons Family Solutions (NYSE:BFAM) last released its earnings results on Tuesday, August 1st. The company reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.67 by $0.03. Bright Horizons Family Solutions had a return on equity of 19.32% and a net margin of 6.91%. The company had revenue of $445.55 million during the quarter, compared to the consensus estimate of $443.90 million. During the same quarter last year, the company earned $0.61 earnings per share. Bright Horizons Family Solutions’s quarterly revenue was up 10.8% compared to the same quarter last year.

A number of research analysts have issued reports on the company. Zacks Investment Research upgraded Bright Horizons Family Solutions from a “hold” rating to a “buy” rating and set a $90.00 price target for the company in a research report on Tuesday, May 9th. BidaskClub lowered Bright Horizons Family Solutions from a “buy” rating to a “hold” rating in a report on Wednesday, July 12th. Citigroup Inc. restated a “buy” rating and issued a $92.00 price objective (up previously from $90.00) on shares of Bright Horizons Family Solutions in a report on Thursday, August 3rd. BMO Capital Markets restated a “hold” rating and issued a $83.00 price objective on shares of Bright Horizons Family Solutions in a report on Friday, May 5th. Finally, Credit Suisse Group lowered Bright Horizons Family Solutions from an “outperform” rating to a “neutral” rating and upped their price objective for the company from $80.00 to $83.00 in a report on Friday, May 12th. They noted that the move was a valuation call. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Bright Horizons Family Solutions has a consensus rating of “Buy” and a consensus target price of $81.75.

Bright Horizons Family Solutions (NYSE BFAM) traded up 0.32% during midday trading on Friday, reaching $79.42. The company’s stock had a trading volume of 241,345 shares. The company’s 50-day moving average price is $78.02 and its 200-day moving average price is $74.06. The company has a market capitalization of $4.69 billion, a price-to-earnings ratio of 42.45 and a beta of 0.12. Bright Horizons Family Solutions has a 1-year low of $59.00 and a 1-year high of $82.00.

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In other news, COO Mary Lou Burke sold 1,000 shares of the company’s stock in a transaction on Wednesday, July 19th. The stock was sold at an average price of $79.98, for a total transaction of $79,980.00. Following the completion of the sale, the chief operating officer now directly owns 32,266 shares of the company’s stock, valued at $2,580,634.68. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Mandy Berman sold 3,697 shares of the company’s stock in a transaction on Monday, May 15th. The shares were sold at an average price of $78.01, for a total value of $288,402.97. Following the sale, the chief accounting officer now directly owns 19,824 shares of the company’s stock, valued at $1,546,470.24. The disclosure for this sale can be found here. In the last 90 days, insiders sold 4,193,394 shares of company stock valued at $332,246,231. Insiders own 2.90% of the company’s stock.

Several large investors have recently made changes to their positions in the stock. BlackRock Inc. increased its stake in shares of Bright Horizons Family Solutions by 73,144.9% in the first quarter. BlackRock Inc. now owns 2,743,023 shares of the company’s stock valued at $198,843,000 after buying an additional 2,739,278 shares in the last quarter. Neuberger Berman Group LLC increased its stake in shares of Bright Horizons Family Solutions by 108.4% in the second quarter. Neuberger Berman Group LLC now owns 1,153,425 shares of the company’s stock valued at $89,056,000 after buying an additional 599,907 shares in the last quarter. Mackenzie Financial Corp bought a new stake in shares of Bright Horizons Family Solutions during the first quarter valued at approximately $32,736,000. Norges Bank bought a new stake in shares of Bright Horizons Family Solutions during the fourth quarter valued at approximately $23,478,000. Finally, Eagle Asset Management Inc. increased its stake in shares of Bright Horizons Family Solutions by 27.9% in the first quarter. Eagle Asset Management Inc. now owns 893,552 shares of the company’s stock valued at $64,773,000 after buying an additional 194,710 shares in the last quarter. 98.81% of the stock is owned by institutional investors and hedge funds.

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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