Wall Street analysts expect that Barrett Business Services, Inc. (NASDAQ:BBSI – Get Rating) will post sales of $1.80 billion for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for Barrett Business Services’ earnings, with the highest sales estimate coming in at $1.80 billion and the lowest estimate coming in at $1.79 billion. Barrett Business Services posted sales of $1.60 billion during the same quarter last year, which indicates a positive year over year growth rate of 12.5%. The firm is expected to issue its next earnings report on Monday, January 1st.
According to Zacks, analysts expect that Barrett Business Services will report full year sales of $7.29 billion for the current year. For the next fiscal year, analysts anticipate that the company will post sales of $8.02 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for Barrett Business Services.
Barrett Business Services (NASDAQ:BBSI – Get Rating) last released its quarterly earnings results on Wednesday, May 4th. The business services provider reported $0.04 earnings per share for the quarter, beating the consensus estimate of ($0.63) by $0.67. The business had revenue of $1.71 billion for the quarter, compared to analysts’ expectations of $1.72 billion. Barrett Business Services had a net margin of 4.37% and a return on equity of 21.43%. During the same quarter in the previous year, the business posted ($0.60) earnings per share.
Several analysts recently weighed in on the stock. TheStreet cut shares of Barrett Business Services from a “b-” rating to a “c+” rating in a report on Tuesday, May 24th. StockNews.com cut shares of Barrett Business Services from a “strong-buy” rating to a “buy” rating in a report on Friday, May 13th. Roth Capital restated a “buy” rating on shares of Barrett Business Services in a report on Thursday, May 5th. Zacks Investment Research upgraded shares of Barrett Business Services from a “hold” rating to a “strong-buy” rating and set a $88.00 target price on the stock in a report on Monday, May 9th. Finally, Barrington Research boosted their target price on shares of Barrett Business Services from $85.00 to $102.00 in a report on Thursday, May 5th. Three research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $99.33.
In other news, CEO Gary Kramer purchased 1,000 shares of the company’s stock in a transaction that occurred on Friday, May 20th. The shares were bought at an average price of $70.13 per share, for a total transaction of $70,130.00. Following the purchase, the chief executive officer now directly owns 34,451 shares in the company, valued at approximately $2,416,048.63. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 3.00% of the company’s stock.
A number of institutional investors have recently made changes to their positions in BBSI. Confluence Wealth Services Inc. bought a new position in Barrett Business Services in the 4th quarter worth about $27,000. Nisa Investment Advisors LLC purchased a new position in Barrett Business Services in the 1st quarter worth about $43,000. PNC Financial Services Group Inc. raised its position in Barrett Business Services by 4,307.1% in the 1st quarter. PNC Financial Services Group Inc. now owns 617 shares of the business services provider’s stock worth $49,000 after buying an additional 603 shares during the last quarter. Denali Advisors LLC purchased a new position in Barrett Business Services in the 4th quarter worth about $76,000. Finally, Lazard Asset Management LLC raised its position in Barrett Business Services by 26.9% in the 1st quarter. Lazard Asset Management LLC now owns 1,029 shares of the business services provider’s stock worth $79,000 after buying an additional 218 shares during the last quarter. Institutional investors own 81.74% of the company’s stock.
NASDAQ:BBSI opened at $74.23 on Tuesday. The stock has a market cap of $543.36 million, a P/E ratio of 13.16, a price-to-earnings-growth ratio of 0.82 and a beta of 1.46. The firm’s fifty day simple moving average is $74.55 and its 200 day simple moving average is $70.41. Barrett Business Services has a twelve month low of $57.76 and a twelve month high of $86.82.
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 3rd. Stockholders of record on Friday, May 20th will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.62%. The ex-dividend date of this dividend is Thursday, May 19th. Barrett Business Services’s dividend payout ratio (DPR) is presently 21.28%.
Barrett Business Services Company Profile (Get Rating)
Barrett Business Services, Inc provides business management solutions for small and mid-sized companies in the United States. The company develops a management platform that integrates a knowledge-based approach from the management consulting industry with tools from the human resource outsourcing industry.
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