BGSF, Inc. (NYSE:BGSF) Forecasted to Post Q1 2024 Earnings of $0.11 Per Share

BGSF, Inc. (NYSE:BGSF) – Equities researchers at Taglich Brothers dropped their Q1 2024 earnings per share (EPS) estimates for shares of BGSF in a research report issued to clients and investors on Monday, November 13th. Taglich Brothers analyst H. Halpern now forecasts that the company will post earnings per share of $0.11 for the quarter, down from their prior forecast of $0.13. The consensus estimate for BGSF’s current full-year earnings is $0.70 per share. Taglich Brothers also issued estimates for BGSF’s Q2 2024 earnings at $0.22 EPS, Q3 2024 earnings at $0.36 EPS and Q4 2024 earnings at $0.22 EPS.

Separately, StockNews.com assumed coverage on shares of BGSF in a research note on Thursday, October 5th. They issued a “hold” rating on the stock.

BGSF Stock Performance

BGSF opened at $9.71 on Wednesday. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.05. The stock’s 50 day moving average price is $9.46 and its two-hundred day moving average price is $9.63. BGSF has a 12-month low of $8.85 and a 12-month high of $16.02.

BGSF (NYSE:BGSF) last posted its quarterly earnings data on Wednesday, November 8th. The company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.06. BGSF had a negative net margin of 2.99% and a positive return on equity of 10.08%. The business had revenue of $83.48 million during the quarter, compared to the consensus estimate of $84.85 million. During the same period in the prior year, the firm earned $0.48 EPS.

Institutional Trading of BGSF

Hedge funds have recently modified their holdings of the company. Tieton Capital Management LLC acquired a new stake in shares of BGSF during the 2nd quarter worth about $2,020,000. Renaissance Technologies LLC acquired a new position in BGSF in the first quarter valued at approximately $442,000. LSV Asset Management boosted its stake in BGSF by 20.9% in the first quarter. LSV Asset Management now owns 205,656 shares of the company’s stock valued at $2,708,000 after acquiring an additional 35,484 shares during the last quarter. North Star Investment Management Corp. grew its holdings in BGSF by 5.3% during the 2nd quarter. North Star Investment Management Corp. now owns 642,943 shares of the company’s stock worth $6,127,000 after acquiring an additional 32,420 shares during the period. Finally, BlackRock Inc. raised its position in shares of BGSF by 17.6% during the 3rd quarter. BlackRock Inc. now owns 204,631 shares of the company’s stock valued at $2,274,000 after acquiring an additional 30,578 shares during the last quarter. Institutional investors own 37.73% of the company’s stock.

BGSF Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 28th. Stockholders of record on Monday, November 20th will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 6.18%. The ex-dividend date of this dividend is Friday, November 17th. BGSF’s dividend payout ratio is currently -66.67%.

BGSF Company Profile

BGSF, Inc, together with its subsidiaries, provides workforce solutions and placement services in the United States. It operates in two segments, Real Estate and Professional. The Real Estate segment offers office and maintenance field talent to various apartment communities and commercial buildings.