Financial services provider CBIZ (NYSE: CBZ) will be announcing earnings results this Wednesday afternoon. Here’s what you need to know.
CBIZ missed analysts’ revenue expectations last quarter, reporting revenues of $848.6 million, up 1.3% year on year. It was a very strong quarter for the company, with an impressive beat of analysts’ full-year EPS guidance estimates and a beat of analysts’ EPS estimates.
Is CBIZ a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting CBIZ’s revenue to grow 2.1% year on year, slowing from the 62.7% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings.
Looking at CBIZ’s peers in the professional services segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Concentrix delivered year-on-year revenue growth of 1.9%, meeting analysts’ expectations, and ManpowerGroup reported revenues up 7.5%, topping estimates by 2.9%. Concentrix traded down 11.2% following the results while ManpowerGroup was up 34.1%.
Read our full analysis of Concentrix’s results here and ManpowerGroup’s results here.
There has been positive sentiment among investors in the professional services segment, with share prices up 3.2% on average over the last month. CBIZ is up 37.5% during the same time and is heading into earnings with an average analyst price target of $44.40 (compared to the current share price of $44.45).
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