Paychex Inc reports results for the quarter ended May 31 - Earnings Summary

• Paychex Inc PAYX.OQ reported quarterly adjusted earnings of $1.19​​ per share for the quarter ended May 31, higher than the same quarter last year, when the company reported EPS of $1.12. The mean expectation of fifteen analysts for the quarter was for earnings of $1.19 per share. Wall Street expected results to range from $1.08 to $1.21 per share.

• Revenue rose 10.2% to $1.43 billion from a year ago; analysts expected $1.44 billion.

• Paychex Inc's reported EPS for the quarter was 82 cents​.

• The company reported quarterly net income of $297.2 million.

• Paychex Inc shares had fallen by 1.3% this quarter and gained 8.6% so far this year.

FORECAST CHANGES

• The mean earnings estimate of analysts had fallen by about 1.5% in the last three months.​

• In the last 30 days, six analysts negatively revised earnings estimates

RECOMMENDATIONS

• The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 1 "strong buy" or "buy," 13 "hold" and 3 "sell" or "strong sell." The average consensus recommendation for the employment services peer group is "buy."

• Wall Street's median 12-month price target for Paychex Inc is $154.00, about 1.1% above its last closing price of $152.25

This summary was machine generated from LSEG data June 25 at 03:37 p.m. UTC. ​All figures in US dollars unless otherwise stated. (For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com)