Barrington Research Research Analysts Cut Earnings Estimates for Barrett Business Services, Inc. (NASDAQ:BBSI)

Barrett Business Services, Inc. (NASDAQ:BBSI) – Stock analysts at Barrington Research decreased their Q3 2024 earnings per share (EPS) estimates for shares of Barrett Business Services in a note issued to investors on Thursday, May 2nd. Barrington Research analyst V. Colicchio now forecasts that the business services provider will earn $2.83 per share for the quarter, down from their previous forecast of $2.91. Barrington Research currently has a “Outperform” rating and a $141.00 target price 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.

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

Barrett Business Services Price Performance

Shares of NASDAQ:BBSI opened at $123.31 on Monday. The firm’s 50-day moving average is $121.96 and its two-hundred day moving average is $113.96. Barrett Business Services has a 1 year low of $77.43 and a 1 year high of $130.00. The firm has a market capitalization of $806.45 million, a PE ratio of 16.91, a price-to-earnings-growth ratio of 1.11 and a beta of 1.37.

Barrett Business Services (NASDAQ:BBSI) last released its quarterly earnings results on Wednesday, May 1st. The business services provider reported ($0.02) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business had revenue of $265.78 million for the quarter, compared to the consensus estimate of $1.88 billion. During the same period in the previous year, the firm earned $0.12 EPS.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of BBSI. Assenagon Asset Management S.A. bought a new stake in shares of Barrett Business Services in the 4th quarter worth about $2,399,000. Equitable Trust Co. grew its position in shares of Barrett Business Services by 10.1% in the 4th quarter. Equitable Trust Co. now owns 10,010 shares of the business services provider’s stock worth $1,159,000 after acquiring an additional 920 shares in the last quarter. FMR LLC increased its holdings in shares of Barrett Business Services by 4.3% in the 3rd quarter. FMR LLC now owns 315,370 shares of the business services provider’s stock valued at $28,459,000 after acquiring an additional 12,997 shares during the last quarter. Barclays PLC raised its position in shares of Barrett Business Services by 34.0% during the 3rd quarter. Barclays PLC now owns 6,362 shares of the business services provider’s stock valued at $573,000 after acquiring an additional 1,614 shares in the last quarter. Finally, Gladius Capital Management LP lifted its stake in Barrett Business Services by 82.2% during the third quarter. Gladius Capital Management LP now owns 1,971 shares of the business services provider’s stock worth $178,000 after purchasing an additional 889 shares during the last quarter. Institutional investors and hedge funds own 86.76% of the company’s stock.

Barrett Business Services Announces Dividend

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

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.