Dayforce Inc (NYSE:DAY) to Post Q3 2024 Earnings of $0.23 Per Share, KeyCorp Forecasts

Dayforce Inc (NYSE:DAY) – Equities researchers at KeyCorp issued their Q3 2024 earnings per share estimates for Dayforce in a research report issued on Monday, September 23rd. KeyCorp analyst J. Celino anticipates that the company will post earnings of $0.23 per share for the quarter. KeyCorp has a “Strong-Buy” rating on the stock. The consensus estimate for Dayforce’s current full-year earnings is $1.08 per share. KeyCorp also issued estimates for Dayforce’s Q4 2024 earnings at $0.27 EPS, FY2024 earnings at $1.03 EPS, Q1 2025 earnings at $0.43 EPS, Q2 2025 earnings at $0.30 EPS, Q3 2025 earnings at $0.33 EPS, Q4 2025 earnings at $0.35 EPS, FY2025 earnings at $1.40 EPS and FY2026 earnings at $1.89 EPS.

Several other analysts also recently commented on DAY. TD Cowen reduced their target price on Dayforce from $63.00 to $53.00 and set a “buy” rating for the company in a research note on Friday, June 28th. Deutsche Bank Aktiengesellschaft boosted their price objective on Dayforce from $70.00 to $75.00 and gave the company a “buy” rating in a report on Thursday, August 1st. BMO Capital Markets reiterated an “outperform” rating and issued a $75.00 target price on shares of Dayforce in a report on Tuesday, June 11th. Citigroup reduced their price target on shares of Dayforce from $72.00 to $66.00 and set a “buy” rating for the company in a research report on Tuesday, June 18th. Finally, Wells Fargo & Company dropped their price objective on shares of Dayforce from $64.00 to $52.00 and set an “equal weight” rating on the stock in a research note on Friday, June 21st. Three equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $68.55.

Dayforce Trading Up 2.0 %

DAY opened at $60.41 on Wednesday. The company has a fifty day moving average price of $55.66 and a two-hundred day moving average price of $57.15. Dayforce has a 1-year low of $47.08 and a 1-year high of $75.33. The company has a market cap of $9.55 billion, a P/E ratio of 183.07, a price-to-earnings-growth ratio of 2.12 and a beta of 1.29. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.49.

Dayforce (NYSE:DAY) last released its quarterly earnings data on Wednesday, July 31st. The company reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.18 by $0.05. The company had revenue of $423.30 million during the quarter, compared to analyst estimates of $417.41 million. Dayforce had a net margin of 2.89% and a return on equity of 6.35%.

Institutional Investors Weigh In On Dayforce

A number of institutional investors have recently added to or reduced their stakes in DAY. Select Equity Group L.P. purchased a new position in shares of Dayforce in the 2nd quarter worth approximately $721,310,000. EdgePoint Investment Group Inc. bought a new stake in Dayforce during the second quarter worth $521,396,000. Dragoneer Investment Group LLC purchased a new position in Dayforce in the second quarter worth $193,274,000. Dimensional Fund Advisors LP bought a new position in Dayforce in the 2nd quarter valued at $51,027,000. Finally, Cannae Holdings Inc. purchased a new stake in shares of Dayforce during the 2nd quarter valued at $49,600,000.

About Dayforce

Dayforce Inc, together with its subsidiaries, operates as a human capital management (HCM) software company in the United States, Canada, and internationally. It offers Dayforce, a cloud HCM platform that provides human resources, payroll and tax, workforce management, wallet, benefits, and talent intelligence functionalities; and Powerpay, a cloud HR and payroll solution for the small business market.