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

Barrett Business Services, Inc. (NASDAQ:BBSI) announced a quarterly dividend on Wednesday, August 5th. Shareholders of record on Friday, August 21st will be paid a dividend of 0.08 per share by the business services provider on Friday, September 4th. This represents a c) annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Friday, August 21st.

Barrett Business Services has increased its dividend payment by an average of 0.0%per year over the last three years and has increased its dividend annually for the last 1 consecutive years. Barrett Business Services has a payout ratio of 13.0% meaning its dividend is sufficiently covered by earnings. Equities 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 Price Performance

Shares of NASDAQ BBSI opened at $40.11 on Thursday. Barrett Business Services has a 1 year low of $25.33 and a 1 year high of $49.65. The firm has a 50-day simple moving average of $36.52 and a two-hundred day simple moving average of $33.13. The company has a market cap of $985.10 million, a P/E ratio of 26.05, a PEG ratio of 1.33 and a beta of 0.94.

Barrett Business Services (NASDAQ:BBSI) last released its earnings results on Wednesday, August 5th. The business services provider reported $0.52 EPS for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.04). Barrett Business Services had a net margin of 3.24% and a return on equity of 22.89%. The business had revenue of $319.27 million for the quarter, compared to the consensus estimate of $321.55 million. As a group, equities research analysts expect that Barrett Business Services will post 1.88 EPS for the current year.

Wall Street Analyst Weigh In

BBSI has been the subject of a number of recent analyst reports. Roth Capital cut Barrett Business Services to a “neutral” rating and set a $38.00 price objective for the company. in a report on Thursday. Barrington Research reiterated an “outperform” rating and issued a $41.00 target price on shares of Barrett Business Services in a research note on Monday, April 27th. Weiss Ratings upgraded Barrett Business Services from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, July 13th. Zacks Research raised shares of Barrett Business Services from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 28th. Finally, Wall Street Zen upgraded shares of Barrett Business Services from a “sell” rating to a “hold” rating in a report on Saturday, June 6th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $39.50.

About Barrett Business Services

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.