Consensus Cloud Solutions (NASDAQ:CCSI) Updates 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 5.080-5.310 for the period, compared to the consensus earnings per share estimate of 5.300. The company issued revenue guidance of $338.0 million-$353.0 million, compared to the consensus revenue estimate of $343.9 million.

Consensus Cloud Solutions Stock Performance

Shares of Consensus Cloud Solutions stock opened at $16.50 on Thursday. Consensus Cloud Solutions has a 52-week low of $11.62 and a 52-week high of $35.29. The firm has a 50-day moving average of $16.75 and a 200-day moving average of $18.11. The stock has a market cap of $317.13 million, a PE ratio of 3.64 and a beta of 1.38.

Consensus Cloud Solutions (NASDAQ:CCSI) last posted its quarterly earnings data on Wednesday, May 8th. The company reported $1.36 earnings per share for the quarter, topping the consensus estimate of $1.06 by $0.30. Consensus Cloud Solutions had a net margin of 24.55% and a negative return on equity of 49.60%. The business had revenue of $88.15 million during the quarter, compared to analysts’ expectations of $87.29 million. Equities research analysts predict that Consensus Cloud Solutions will post 4.51 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently weighed in on CCSI shares. Oppenheimer cut their price objective on shares of Consensus Cloud Solutions from $29.00 to $20.00 and set an outperform rating for the company in a research report on Thursday, May 9th. Wedbush reaffirmed an outperform rating and set a $24.00 price objective on shares of Consensus Cloud Solutions in a research report on Friday, May 10th.

Consensus Cloud Solutions Company Profile

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.