Barrett Business Services, Inc. (NASDAQ:BBSI) Declares $0.08 Quarterly Dividend

Barrett Business Services, Inc. (NASDAQ:BBSI) announced a quarterly dividend on Wednesday, May 6th. Shareholders of record on Friday, May 22nd will be given a dividend of 0.08 per share by the business services provider on Friday, June 5th. This represents a c) dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend is Friday, May 22nd.

Barrett Business Services has raised its dividend payment by an average of 0.0%per year over the last three years and has raised its dividend every year for the last 1 years. Barrett Business Services has a payout ratio of 13.0% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Barrett Business Services to earn $2.22 per share next year, which means the company should continue to be able to cover its $0.32 annual dividend with an expected future payout ratio of 14.4%.

Barrett Business Services Trading Down 3.1%

Shares of BBSI stock opened at $29.44 on Thursday. Barrett Business Services has a 12-month low of $25.33 and a 12-month high of $49.65. The stock’s 50-day moving average price is $29.17 and its 200-day moving average price is $34.05. The stock has a market capitalization of $723.05 million, a price-to-earnings ratio of 14.09, a price-to-earnings-growth ratio of 1.01 and a beta of 0.97.

Barrett Business Services (NASDAQ:BBSI) last issued its earnings results on Wednesday, May 6th. The business services provider reported ($0.13) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.15) by $0.02. Barrett Business Services had a return on equity of 23.67% and a net margin of 4.39%.The firm had revenue of $307.01 million for the quarter, compared to analysts’ expectations of $306.68 million. During the same period in the previous year, the firm posted ($0.04) earnings per share. The business’s revenue was up 4.9% compared to the same quarter last year. As a group, research analysts predict that Barrett Business Services will post 1.88 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Zacks Research raised Barrett Business Services from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 28th. Roth Mkm dropped their price target on Barrett Business Services from $54.00 to $42.00 and set a “buy” rating for the company in a research report on Thursday, February 26th. Finally, Barrington Research reiterated an “outperform” rating and issued a $41.00 price target on shares of Barrett Business Services in a research report on Monday, April 27th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $41.50.

Barrett Business Services Company Profile

Barrett Business Services, Inc (NASDAQ: BBSI) is a professional employer organization (PEO) headquartered in Northridge, California. Founded in 1971 by Barrett K. Levesque, the company provides comprehensive human resources outsourcing solutions to small and mid-sized businesses. Through its consultative model, Barrett Business Services helps clients streamline administrative processes, mitigate regulatory risk and focus on core operations.

The company’s core offerings include payroll administration, employee benefits management, workers’ compensation and risk management services.