Paychex, Inc.: PAYX is poised to release earnings results for its first quarter before the opening bell on Tuesday, Oct. 1.
Market analysts anticipate the Rochester, New York-based company to report quarterly earnings at $1.14 per share, aligning with the year-ago figure of $1.14 per share. Revenue projections for Paychex stand at $1.32 billion for the quarter, a slight increase from $1.29 billion a year prior according to data from Benzinga Pro.
Notably, on June 26, Paychex announced a sales growth of 5% year over year to $1.295 billion, closely matching the analyst consensus estimate of $1.296 billion.
As of Friday, Paychex shares closed at $132.99.
Investors following Benzinga can access the latest analyst ratings on the Analyst Stock Ratings page, with the ability to sort by stock ticker, company name, analyst firm, rating change, or other criteria.
Let’s delve into the recent ratings of Paychex by Benzinga’s most-accurate analysts:
- Citigroup analyst Peter Christiansen upheld a Neutral rating and uplifted the price target from $125 to $145 on Sept. 25. This analyst boasts an impressive accuracy rate of 66%.
- Barclays analyst Ramsey El-Assal retained an Equal-Weight rating and increased the price target from $118 to $132 on Sept. 23, holding a solid 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 persisted with an Underweight rating while upgrading the price target from $120 to $128 on Aug. 20, maintaining an accuracy rate of 66%.
- Morgan Stanley analyst James Faucette kept an Equal-Weight rating and lowered the price target from $125 to $122 on June 27, showcasing an accuracy rate of 65%.
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