Zacks: Analysts Expect Barrett Business Services, Inc. (NASDAQ:BBSI) Will Announce Earnings of $0.97 Per Share

Wall Street analysts predict that Barrett Business Services, Inc. (NASDAQ:BBSI) will report earnings of $0.97 per share for the current quarter, according to Zacks. Two analysts have made estimates for Barrett Business Services’ earnings. The highest EPS estimate is $1.02 and the lowest is $0.91. Barrett Business Services posted earnings per share of $0.93 in the same quarter last year, which indicates a positive year-over-year growth rate of 4.3%. The company is scheduled to issue its next quarterly earnings report on Wednesday, March 2nd.

On average, analysts expect that Barrett Business Services will report full-year earnings of $4.58 per share for the current fiscal year, with EPS estimates ranging from $4.52 to $4.63. For the next fiscal year, analysts expect that the company will report earnings of $4.97 per share, with EPS estimates ranging from $4.83 to $5.10. Zacks’ earnings per share averages are a mean average based on a survey of analysts that that provide coverage for Barrett Business Services.

Barrett Business Services (NASDAQ:BBSI) last announced its earnings results on Tuesday, November 2nd. The business services provider reported $1.96 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $2.03 by ($0.07). The business had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.61 billion. Barrett Business Services had a net margin of 3.72% and a return on equity of 17.53%. During the same period in the prior year, the company earned $2.40 earnings per share.

A number of brokerages have issued reports on BBSI. TheStreet upgraded Barrett Business Services from a “c+” rating to a “b-” rating in a research report on Monday, August 23rd. Barrington Research increased their price target on Barrett Business Services from $86.00 to $95.00 and gave the stock an “outperform” rating in a research report on Friday, November 5th. Roth Capital increased their price target on Barrett Business Services from $88.00 to $98.00 and gave the stock a “buy” rating in a research report on Thursday, August 5th. They noted that the move was a valuation call. Finally, Zacks Investment Research raised Barrett Business Services from a “sell” rating to a “hold” rating in a report on Monday, November 15th.

In other news, Director Jon L. Justesen sold 1,457 shares of the firm’s stock in a transaction on Monday, November 22nd. The stock was sold at an average price of $76.50, for a total transaction of $111,460.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Anthony Meeker sold 2,000 shares of the firm’s stock in a transaction on Monday, August 30th. The stock was sold at an average price of $76.17, for a total value of $152,340.00. Following the transaction, the director now owns 16,420 shares of the company’s stock, valued at $1,250,711.40. The disclosure for this sale can be found here. 2.40% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. American Century Companies Inc. lifted its holdings in Barrett Business Services by 0.8% during the 3rd quarter. American Century Companies Inc. now owns 515,133 shares of the business services provider’s stock worth $39,284,000 after buying an additional 3,925 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of Barrett Business Services by 4.1% during the second quarter. JPMorgan Chase & Co. now owns 274,965 shares of the business services provider’s stock worth $19,965,000 after purchasing an additional 10,732 shares in the last quarter. Private Capital Management LLC increased its position in shares of Barrett Business Services by 0.4% during the second quarter. Private Capital Management LLC now owns 204,420 shares of the business services provider’s stock worth $14,843,000 after purchasing an additional 740 shares in the last quarter. FMR LLC increased its position in shares of Barrett Business Services by 13.7% during the first quarter. FMR LLC now owns 173,432 shares of the business services provider’s stock worth $13,411,000 after purchasing an additional 20,901 shares in the last quarter. Finally, Pacific Ridge Capital Partners LLC increased its position in shares of Barrett Business Services by 1.6% during the second quarter. Pacific Ridge Capital Partners LLC now owns 172,357 shares of the business services provider’s stock worth $12,515,000 after purchasing an additional 2,723 shares in the last quarter. 80.69% of the stock is owned by institutional investors.

Shares of BBSI traded down $0.77 during mid-day trading on Thursday, reaching $76.27. The company had a trading volume of 23,773 shares, compared to its average volume of 31,032. Barrett Business Services has a 52-week low of $62.30 and a 52-week high of $86.82. The stock has a market capitalization of $572.41 million, a P/E ratio of 16.84, a PEG ratio of 1.37 and a beta of 1.54. The stock has a 50 day moving average of $79.26 and a two-hundred day moving average of $76.16.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 3rd. Investors of record on Friday, November 19th will be issued a $0.30 dividend. The ex-dividend date of this dividend is Thursday, November 18th. This represents a $1.20 annualized dividend and a dividend yield of 1.57%. Barrett Business Services’s dividend payout ratio is presently 26.49%.

About Barrett Business Services

Barrett Business Services, Inc engages in the provision of business management solutions for small and mid-sized companies. It develops management platform that integrates a knowledge-based approach from the management consulting industry with tools from the human resource outsourcing industry. It focuses on professional employer, and staffing and recruiting services.

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