Barrett Business Services, Inc. (NASDAQ:BBSI) Forecasted to Earn Q3 2024 Earnings of $2.83 Per Share

Barrett Business Services, Inc. (NASDAQ:BBSI) – Equities research analysts at Barrington Research dropped their Q3 2024 earnings per share (EPS) estimates for shares of Barrett Business Services in a research note issued on Thursday, May 2nd. Barrington Research analyst V. Colicchio now expects that the business services provider will post earnings of $2.83 per share for the quarter, down from their prior estimate of $2.91. Barrington Research currently has a “Outperform” rating and a $141.00 price target on the stock. The consensus estimate for Barrett Business Services’ current full-year earnings is $7.95 per share. Barrington Research also issued estimates for Barrett Business Services’ Q4 2024 earnings at $2.54 EPS.

Barrett Business Services (NASDAQ:BBSI) last announced its quarterly earnings results on Wednesday, May 1st. The business services provider reported ($0.02) EPS for the quarter, beating the consensus estimate of ($0.31) by $0.29. Barrett Business Services had a net margin of 4.60% and a return on equity of 26.58%. The firm had revenue of $265.78 million during the quarter, compared to the consensus estimate of $1.88 billion. During the same period last year, the firm earned $0.12 EPS.

Separately, StockNews.com upgraded shares of Barrett Business Services from a “buy” rating to a “strong-buy” rating in a research report on Thursday, May 2nd.

Barrett Business Services Stock Down 0.1 %

NASDAQ:BBSI opened at $123.21 on Monday. The stock has a market cap of $805.79 million, a P/E ratio of 16.90, a PEG ratio of 1.11 and a beta of 1.37. The business’s 50-day moving average price is $121.81 and its two-hundred day moving average price is $113.72. Barrett Business Services has a twelve month low of $77.43 and a twelve month high of $130.00.

Barrett Business Services Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Friday, May 17th will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 0.97%. The ex-dividend date of this dividend is Thursday, May 16th. Barrett Business Services’s dividend payout ratio (DPR) is presently 16.46%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of BBSI. AJOVista LLC purchased a new stake in Barrett Business Services during the 4th quarter valued at $27,000. Ramirez Asset Management Inc. purchased a new position in Barrett Business Services during the 3rd quarter valued at $45,000. CWM LLC raised its holdings in Barrett Business Services by 120,000.0% in the 4th quarter. CWM LLC now owns 1,201 shares of the business services provider’s stock worth $139,000 after purchasing an additional 1,200 shares in the last quarter. Arizona State Retirement System purchased a new stake in shares of Barrett Business Services in the 4th quarter worth about $218,000. Finally, SG Americas Securities LLC purchased a new stake in shares of Barrett Business Services in the 4th quarter worth about $226,000. 86.76% of the stock is owned by institutional investors.

About Barrett Business Services

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.