Barrett Business Services, Inc. to Post Q3 2024 Earnings of $0.67 Per Share, Barrington Research Forecasts (NASDAQ:BBSI)

Barrett Business Services, Inc. (NASDAQ:BBSI) – Analysts at Barrington Research lowered their Q3 2024 earnings estimates for Barrett Business Services in a research note issued on Thursday, August 1st. Barrington Research analyst V. Colicchio now forecasts that the business services provider will post earnings of $0.67 per share for the quarter, down from their previous forecast of $0.71. Barrington Research has a “Outperform” rating and a $41.00 price objective on the stock. The consensus estimate for Barrett Business Services’ current full-year earnings is $1.99 per share. Barrington Research also issued estimates for Barrett Business Services’ FY2025 earnings at $2.16 EPS.

Barrett Business Services (NASDAQ:BBSI) last posted its quarterly earnings data on Wednesday, July 31st. The business services provider reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.04. Barrett Business Services had a net margin of 4.50% and a return on equity of 26.01%. The company had revenue of $279.60 million during the quarter, compared to the consensus estimate of $273.13 million. During the same period in the previous year, the firm posted $0.62 EPS. The firm’s revenue was up 5.7% compared to the same quarter last year.

Other analysts also recently issued research reports about the company. Roth Mkm boosted their target price on Barrett Business Services from $40.00 to $43.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Sidoti lowered shares of Barrett Business Services from a “buy” rating to a “neutral” rating and set a $35.00 price objective for the company. in a report on Wednesday, June 5th. Finally, StockNews.com lowered shares of Barrett Business Services from a “strong-buy” rating to a “buy” rating in a report on Wednesday, May 29th.

Barrett Business Services Trading Up 2.1 %

BBSI opened at $34.88 on Monday. The stock has a market capitalization of $912.70 million, a P/E ratio of 19.16, a PEG ratio of 1.32 and a beta of 1.38. The stock has a 50-day moving average price of $33.71 and a 200-day moving average price of $31.29. Barrett Business Services has a 12-month low of $21.59 and a 12-month high of $37.00.

Institutional Trading of Barrett Business Services

Institutional investors have recently modified their holdings of the company. Equitable Trust Co. raised its position in Barrett Business Services by 10.1% during the 4th quarter. Equitable Trust Co. now owns 10,010 shares of the business services provider’s stock valued at $1,159,000 after purchasing an additional 920 shares during the last quarter. CWM LLC raised its holdings in shares of Barrett Business Services by 120,000.0% during the fourth quarter. CWM LLC now owns 1,201 shares of the business services provider’s stock valued at $139,000 after acquiring an additional 1,200 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of Barrett Business Services during the fourth quarter valued at approximately $226,000. New York State Common Retirement Fund lifted its stake in Barrett Business Services by 131.9% in the fourth quarter. New York State Common Retirement Fund now owns 6,585 shares of the business services provider’s stock worth $763,000 after acquiring an additional 3,745 shares during the period. Finally, Mackenzie Financial Corp boosted its holdings in Barrett Business Services by 34.9% in the fourth quarter. Mackenzie Financial Corp now owns 3,537 shares of the business services provider’s stock valued at $410,000 after acquiring an additional 915 shares in the last quarter. 86.76% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Barrett Business Services

In other news, Director Thomas B. Cusick sold 2,400 shares of the firm’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $33.01, for a total value of $79,230.00. Following the transaction, the director now owns 26,192 shares in the company, valued at $864,663.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 3.70% of the company’s stock.

Barrett Business Services Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Friday, August 16th will be paid a $0.08 dividend. This is a boost from Barrett Business Services’s previous quarterly dividend of $0.08. This represents a $0.32 dividend on an annualized basis and a yield of 0.92%. The ex-dividend date is Friday, August 16th. Barrett Business Services’s payout ratio is 17.58%.

Barrett Business Services Company Profile

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.