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The Zacks Consensus Estimate for the company’s to-be-reported quarter’s revenues stands at $1.06 billion, indicating an increase of 7.7% from the year-ago reported figure.
The consensus mark for Management Solutions’ revenues stands at $787 million, indicating growth of 7.4% from the year-ago reported number. Growth in the company’s client base and increased penetration of its suite of solutions, especially HR outsourcing and time and attendance, are likely to have aided the top line.
The consensus mark for Professional employer organization and Insurance Solutions revenues stands at $260 million, indicating growth of 10.2% from the year-ago reported number. The uptick is likely to have been aided by an increase in the number of worksite employees, the impact of an increase in average wages per worksite employee, higher revenues on state unemployment insurance and a rise in PEO health insurance revenues.
The consensus estimate for interest on funds held by clients’ revenues is pegged at $14.51 million, indicating 1.9% year-over-year decline. Lower average interest rates are likely to have weighed on segmental revenues.
The consensus mark for earnings is pegged at 79 cents per share, indicating growth of 8.2% from the year-ago quarter’s reported figure.
What Our Model Says
Our proven model does not conclusively predict an earnings beat for Paychex this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that’s not the case here. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Paychex has an Earnings ESP of 0.00% and a Zacks Rank #3.
Here are a few stocks from the broader Zacks Business Services sector that investors may consider, as our model shows that these have the right combination of elements to beat on earnings in their upcoming release.
Cross Country Healthcare has an expected earnings growth rate of 500% for the current year. The company has a trailing four-quarter earnings surprise of 75%, on average.
Cross Country Healthcare’s shares have surged 190.7% in the past year. The company has an expected long-term earnings growth rate of 21.5%.
Accenture (ACN - Free Report) has an Earnings ESP of +0.78% and a Zacks Rank #2.
Accenture has an expected earnings growth rate of 19% for the current year. The company has a trailing four-quarter earnings surprise of 5.3%, on average.
Accenture’s shares have surged 51.6% in the past year. The company has a long-term earnings growth expectation of 10%.
IQVIA Holdings (IQV - Free Report) has an Earnings ESP of +0.46% and a Zacks Rank #3.
IQVIA has an expected earnings growth rate of 38.8% for the current year. The company has a trailing four-quarter earnings surprise of 6.9%, on average.
IQVIA’s shares have surged 51.3% in the past year. The company’s long-term earnings growth rate is projected at 16.2%.
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Paychex (PAYX) Set to Report Q2 Earnings: What to Expect?
Paychex, Inc. (PAYX - Free Report) is scheduled to report second-quarter fiscal 2022 results on Dec 22, before market open.
Let's check out the expectations in detail.
Q2 Expectations
The Zacks Consensus Estimate for the company’s to-be-reported quarter’s revenues stands at $1.06 billion, indicating an increase of 7.7% from the year-ago reported figure.
The consensus mark for Management Solutions’ revenues stands at $787 million, indicating growth of 7.4% from the year-ago reported number. Growth in the company’s client base and increased penetration of its suite of solutions, especially HR outsourcing and time and attendance, are likely to have aided the top line.
The consensus mark for Professional employer organization and Insurance Solutions revenues stands at $260 million, indicating growth of 10.2% from the year-ago reported number. The uptick is likely to have been aided by an increase in the number of worksite employees, the impact of an increase in average wages per worksite employee, higher revenues on state unemployment insurance and a rise in PEO health insurance revenues.
The consensus estimate for interest on funds held by clients’ revenues is pegged at $14.51 million, indicating 1.9% year-over-year decline. Lower average interest rates are likely to have weighed on segmental revenues.
The consensus mark for earnings is pegged at 79 cents per share, indicating growth of 8.2% from the year-ago quarter’s reported figure.
What Our Model Says
Our proven model does not conclusively predict an earnings beat for Paychex this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that’s not the case here. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Paychex has an Earnings ESP of 0.00% and a Zacks Rank #3.
Paychex, Inc. Price and EPS Surprise
Paychex, Inc. price-eps-surprise | Paychex, Inc. Quote
Stocks to Consider
Here are a few stocks from the broader Zacks Business Services sector that investors may consider, as our model shows that these have the right combination of elements to beat on earnings in their upcoming release.
Cross Country Healthcare (CCRN - Free Report) has an Earnings ESP of +0.30% and a Zacks Rank #1. You can see the complete list of today’s Zacks #1 Rank stocks here.
Cross Country Healthcare has an expected earnings growth rate of 500% for the current year. The company has a trailing four-quarter earnings surprise of 75%, on average.
Cross Country Healthcare’s shares have surged 190.7% in the past year. The company has an expected long-term earnings growth rate of 21.5%.
Accenture (ACN - Free Report) has an Earnings ESP of +0.78% and a Zacks Rank #2.
Accenture has an expected earnings growth rate of 19% for the current year. The company has a trailing four-quarter earnings surprise of 5.3%, on average.
Accenture’s shares have surged 51.6% in the past year. The company has a long-term earnings growth expectation of 10%.
IQVIA Holdings (IQV - Free Report) has an Earnings ESP of +0.46% and a Zacks Rank #3.
IQVIA has an expected earnings growth rate of 38.8% for the current year. The company has a trailing four-quarter earnings surprise of 6.9%, on average.
IQVIA’s shares have surged 51.3% in the past year. The company’s long-term earnings growth rate is projected at 16.2%.