Roth Capital Has Negative Estimate for BBSI FY2024 Earnings

Barrett Business Services, Inc. (NASDAQ:BBSI) – Stock analysts at Roth Capital reduced their FY2024 earnings estimates for Barrett Business Services in a research report issued on Thursday, November 7th. Roth Capital analyst J. Martin now forecasts that the business services provider will post earnings of $2.02 per share for the year, down from their prior estimate of $2.03. The consensus estimate for Barrett Business Services’ current full-year earnings is $2.00 per share. Roth Capital also issued estimates for Barrett Business Services’ Q4 2024 earnings at $0.66 EPS and Q3 2025 earnings at $0.88 EPS.

Several other analysts have also issued reports on BBSI. Roth Mkm increased their price objective on Barrett Business Services from $43.00 to $45.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Barrington Research lifted their price target on Barrett Business Services from $41.00 to $45.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Finally, StockNews.com cut Barrett Business Services from a “buy” rating to a “hold” rating in a research note on Monday.

Barrett Business Services Stock Down 0.2 %

Shares of NASDAQ:BBSI opened at $42.79 on Monday. The firm has a fifty day moving average of $37.18 and a two-hundred day moving average of $34.76. Barrett Business Services has a 12-month low of $26.06 and a 12-month high of $43.18. The firm has a market capitalization of $1.11 billion, a P/E ratio of 22.64, a price-to-earnings-growth ratio of 1.39 and a beta of 1.39.

Hedge Funds Weigh In On Barrett Business Services

Institutional investors and hedge funds have recently bought and sold shares of the stock. Pacific Ridge Capital Partners LLC grew its position in Barrett Business Services by 259.8% in the 2nd quarter. Pacific Ridge Capital Partners LLC now owns 378,786 shares of the business services provider’s stock worth $12,413,000 after purchasing an additional 273,516 shares during the last quarter. Ironwood Investment Management LLC lifted its stake in shares of Barrett Business Services by 155.0% in the second quarter. Ironwood Investment Management LLC now owns 87,856 shares of the business services provider’s stock valued at $2,879,000 after buying an additional 53,405 shares during the period. EP Wealth Advisors LLC acquired a new stake in Barrett Business Services during the second quarter worth about $758,000. Dimensional Fund Advisors LP increased its stake in Barrett Business Services by 281.9% during the second quarter. Dimensional Fund Advisors LP now owns 867,708 shares of the business services provider’s stock valued at $28,435,000 after acquiring an additional 640,508 shares during the period. Finally, State of New Jersey Common Pension Fund D raised its holdings in Barrett Business Services by 155.7% in the 2nd quarter. State of New Jersey Common Pension Fund D now owns 59,324 shares of the business services provider’s stock valued at $1,944,000 after acquiring an additional 36,120 shares in the last quarter. Institutional investors own 86.76% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Gary Kramer sold 34,288 shares of the stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $35.05, for a total transaction of $1,201,794.40. Following the completion of the sale, the chief executive officer now owns 242,543 shares in the company, valued at $8,501,132.15. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 3.70% of the company’s stock.

Barrett Business Services Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 22nd will be issued a $0.08 dividend. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $0.32 annualized dividend and a yield of 0.75%. Barrett Business Services’s dividend payout ratio (DPR) is presently 16.93%.

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.