Consensus Cloud Solutions (NASDAQ:CCSI) Issues FY 2024 Earnings Guidance

Consensus Cloud Solutions (NASDAQ:CCSI) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided earnings per share guidance of 5.450-5.550 for the period, compared to the consensus earnings per share estimate of 5.500. The company issued revenue guidance of $346.0 million-$350.0 million, compared to the consensus revenue estimate of $344.1 million. Consensus Cloud Solutions also updated its Q4 2024 guidance to 1.140-1.240 EPS.

Consensus Cloud Solutions Stock Performance

NASDAQ CCSI traded down $1.03 during trading hours on Friday, hitting $25.05. 176,109 shares of the company traded hands, compared to its average volume of 127,914. The business’s 50-day moving average is $22.43 and its 200-day moving average is $19.87. Consensus Cloud Solutions has a twelve month low of $11.62 and a twelve month high of $28.09. The stock has a market capitalization of $483.47 million, a price-to-earnings ratio of 5.33 and a beta of 1.38.

Consensus Cloud Solutions (NASDAQ:CCSI) last released its quarterly earnings data on Thursday, August 8th. The company reported $1.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.11 by $0.15. Consensus Cloud Solutions had a negative return on equity of 57.77% and a net margin of 25.72%. The company had revenue of $87.50 million during the quarter, compared to analysts’ expectations of $87.10 million. Analysts predict that Consensus Cloud Solutions will post 4.86 EPS for the current year.

Analysts Set New Price Targets

Several analysts recently issued reports on CCSI shares. JPMorgan Chase & Co. downgraded Consensus Cloud Solutions from a “neutral” rating to an “underweight” rating and boosted their price target for the company from $19.00 to $21.00 in a research note on Monday, September 9th. BTIG Research raised Consensus Cloud Solutions from a “neutral” rating to a “buy” rating and set a $30.00 price objective for the company in a report on Wednesday, August 21st. Wedbush boosted their price target on Consensus Cloud Solutions from $24.00 to $32.00 and gave the stock an “outperform” rating in a report on Friday. Finally, Oppenheimer boosted their price target on Consensus Cloud Solutions from $23.00 to $27.00 and gave the stock an “outperform” rating in a report on Friday. Two equities research analysts have rated the stock with a sell rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $26.00.

About Consensus Cloud Solutions

Consensus Cloud Solutions, Inc, together with its subsidiaries, provides information delivery services with a software-as-a-service platform worldwide. The company offers eFax Corporate, a digital cloud-fax technology; Unite, a single platform that allows the user to choose between various protocols to send and receive healthcare information and can integrate into an existing electronic health record system or stand-alone if no EHR is present.