Paychex, Inc. PAYX is set to release its first-quarter earnings before the market opens on Tuesday, Oct. 1.
Analysts anticipate the Rochester, New York-based company to announce earnings of $1.14 per share for this quarter, consistent with the figure reported in the same period last year. Revenue projections stand at $1.32 billion for the quarter, compared to $1.29 billion a year ago, according to data from Benzinga Pro.
In its previous report on June 26, Paychex posted a 5% year-over-year sales growth to reach $1.295 billion, aligning closely with the analyst consensus estimate of $1.296 billion.
At the end of trading on Friday, Paychex shares closed at $132.99.
For the latest analyst ratings on Paychex, Benzinga readers can visit the Analyst Stock Ratings page where they can sort ratings by various criteria including stock ticker, analyst firm, and rating changes.
Let’s delve into the evaluations provided by Benzinga’s most precise analysts in the recent period.
- Citigroup analyst Peter Christiansen upheld a Neutral rating while increasing the price target from $125 to $145 on Sept. 25, boasting an accuracy rate of 66%.
- Barclays analyst Ramsey El-Assal maintained an Equal-Weight rating and elevated the price target from $118 to $132 on Sept. 23, with an accuracy rate of 68%.
- TD Cowen analyst Bryan Bergin sustained a Hold rating and raised the price target from $121 to $126 on Sept. 12, with an accuracy rate of 61%.
- JP Morgan analyst Tien-Tsin Huang retained an Underweight rating and increased the price target from $120 to $128 on Aug. 20, displaying an accuracy rate of 66%.
- Morgan Stanley analyst James Faucette upheld an Equal-Weight rating but reduced the price target from $125 to $122 on June 27, exhibiting an accuracy rate of 65%.
Contemplating an investment in PAYX stock? Here’s an overview of what analysts suggest:
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