Paychex (PAYX) Expected to Post Earnings of $0.61 Per Share

Equities analysts expect Paychex (NASDAQ:PAYX) to post earnings per share of $0.61 for the current fiscal quarter, according to Zacks. Thirteen analysts have provided estimates for Paychex’s earnings, with estimates ranging from $0.60 to $0.67. Paychex posted earnings of $0.54 per share during the same quarter last year, which would suggest a positive year over year growth rate of 13%. The company is scheduled to report its next quarterly earnings results on Wednesday, June 27th.

On average, analysts expect that Paychex will report full year earnings of $2.49 per share for the current year, with EPS estimates ranging from $2.44 to $2.55. For the next financial year, analysts expect that the company will post earnings of $2.78 per share, with EPS estimates ranging from $2.72 to $2.98. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of analysts that follow Paychex.

How to Become a New Pot Stock Millionaire

Paychex (NASDAQ:PAYX) last announced its quarterly earnings data on Monday, March 26th. The business services provider reported $0.63 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.62 by $0.01. Paychex had a net margin of 27.22% and a return on equity of 43.42%. The business had revenue of $866.50 million for the quarter, compared to analyst estimates of $853.99 million. During the same period in the prior year, the business posted $0.55 earnings per share. Paychex’s revenue was up 8.9% compared to the same quarter last year.

Several brokerages recently weighed in on PAYX. Bank of America lowered shares of Paychex from a “buy” rating to a “neutral” rating and set a $73.00 price objective on the stock. in a report on Tuesday, January 9th. Royal Bank of Canada restated a “sector perform” rating and issued a $63.00 price objective on shares of Paychex in a report on Monday, April 2nd. BMO Capital Markets restated a “hold” rating and issued a $70.00 price objective on shares of Paychex in a report on Wednesday, January 24th. Citigroup cut their price objective on shares of Paychex from $67.00 to $64.00 and set a “neutral” rating on the stock in a report on Wednesday, March 28th. Finally, Barclays cut their price objective on shares of Paychex from $75.00 to $70.00 and set an “equal weight” rating on the stock in a report on Tuesday, March 27th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and one has assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $64.94.

In other Paychex news, insider Michael E. Gioja sold 110,000 shares of the stock in a transaction on Thursday, March 29th. The shares were sold at an average price of $61.63, for a total value of $6,779,300.00. Following the sale, the insider now directly owns 170,974 shares in the company, valued at $10,537,127.62. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 11.70% of the company’s stock.

Several hedge funds have recently modified their holdings of PAYX. Field & Main Bank acquired a new stake in Paychex in the 4th quarter worth about $101,000. Acadian Asset Management LLC purchased a new stake in Paychex during the 4th quarter valued at $109,000. Avestar Capital LLC purchased a new stake in Paychex during the 4th quarter valued at $126,000. Financial Gravity Companies Inc. purchased a new stake in Paychex during the 4th quarter valued at $127,000. Finally, Calton & Associates Inc. purchased a new stake in Paychex during the 4th quarter valued at $151,000. 68.66% of the stock is owned by institutional investors.

NASDAQ PAYX traded down $0.59 during trading hours on Tuesday, hitting $60.34. The company’s stock had a trading volume of 2,980,188 shares, compared to its average volume of 2,627,755. Paychex has a twelve month low of $54.20 and a twelve month high of $73.10. The firm has a market capitalization of $21,678.65, a P/E ratio of 27.43, a P/E/G ratio of 3.11 and a beta of 0.98.

COPYRIGHT VIOLATION WARNING: This story was first published by Week Herald and is the sole property of of Week Herald. If you are viewing this story on another domain, it was illegally stolen and reposted in violation of U.S. & international trademark & copyright laws. The original version of this story can be viewed at https://weekherald.com/2018/04/22/paychex-payx-expected-to-post-earnings-of-0-61-per-share.html.

About Paychex

Paychex, Inc provides payroll, human resource (HR), retirement, and insurance services for small to medium-sized businesses in the United States and Germany. The company offers payroll processing services that include payroll tax administration services; employee payment services; and regulatory compliance services, such as new-hire reporting and garnishment processing.

Get a free copy of the Zacks research report on Paychex (PAYX)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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.

Leave a Reply