Anticipated Earnings Report from Paychex
Paychex, Inc. PAYX is set to unveil its first-quarter earnings before the market opens on Tuesday, Oct. 1.
Wall Street analysts are eyeing a consensus estimate of $1.14 per share in quarterly earnings, in comparison to $1.14 per share in the same period last year. Revenue projections for the quarter stand at $1.32 billion, up from $1.29 billion in the corresponding period a year ago, as reported by data from Benzinga Pro.
In its most recent earnings report on June 26, Paychex disclosed a 5% year-over-year sales growth to $1.295 billion, aligning closely with the forecasted estimate of $1.296 billion by analysts.
The closing price for Paychex shares on Friday stood at $132.99.
For more in-depth insights, readers can access a comprehensive analysis of the company by top-rated analysts on the Analyst Stock Ratings page, covering various metrics such as stock ticker, company name, analyst firm, and rating changes.
Analyst Forecasts and Recommendations:
- Citigroup analyst Peter Christiansen held steady with a Neutral rating and increased the price target from $125 to $145 on Sept. 25, boasting an impressive accuracy rate of 66%.
- Barclays analyst Ramsey El-Assal maintained an Equal-Weight rating and raised the price target from $118 to $132 on Sept. 23 with a commendable accuracy rate of 68%.
- TD Cowen analyst Bryan Bergin reiterated a Hold rating while upping the price target from $121 to $126 on Sept. 12, demonstrating an accuracy rate of 61%.
- JP Morgan analyst Tien-Tsin Huang kept an Underweight rating and adjusted the price target from $120 to $128 on Aug. 20, with a solid accuracy rate of 66%.
- Morgan Stanley analyst James Faucette retained an Equal-Weight rating and revised the price target from $125 to $122 on June 27, with a notable accuracy rate of 65%.
Contemplating an investment in PAYX stock? Peer into the minds of analysts for a seasoned perspective.
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