Barrett Business Services, Inc. (NASDAQ:BBSI) Forecasted to Post Q3 2024 Earnings of $2.83 Per Share

Barrett Business Services, Inc. (NASDAQ:BBSI) – Equities research analysts at Barrington Research reduced their Q3 2024 earnings per share estimates for shares of Barrett Business Services in a research report issued on Thursday, May 2nd. Barrington Research analyst V. Colicchio now anticipates that the business services provider will post earnings per share of $2.83 for the quarter, down from their prior estimate of $2.91. Barrington Research has a “Outperform” rating and a $141.00 price objective 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.

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 analyst estimates of $1.88 billion. During the same quarter in the previous year, the business earned $0.12 earnings per share.

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

Barrett Business Services Trading Up 0.1 %

Shares of BBSI stock opened at $123.31 on Monday. The company has a market capitalization of $806.45 million, a price-to-earnings ratio of 16.91, a P/E/G ratio of 1.11 and a beta of 1.37. Barrett Business Services has a 1-year low of $77.43 and a 1-year high of $130.00. The stock’s fifty day simple moving average is $121.96 and its 200-day simple moving average is $113.96.

Barrett Business Services Announces Dividend

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

Hedge Funds Weigh In On Barrett Business Services

A number of institutional investors have recently modified their holdings of BBSI. LSV Asset Management raised its holdings in Barrett Business Services by 0.3% in the 1st quarter. LSV Asset Management now owns 30,072 shares of the business services provider’s stock worth $3,811,000 after acquiring an additional 100 shares during the period. BNP Paribas Financial Markets lifted its position in shares of Barrett Business Services by 10.3% during the 1st quarter. BNP Paribas Financial Markets now owns 5,462 shares of the business services provider’s stock worth $692,000 after purchasing an additional 509 shares during the last quarter. Simplicity Wealth LLC bought a new stake in Barrett Business Services during the 1st quarter valued at approximately $492,000. Assenagon Asset Management S.A. grew its holdings in Barrett Business Services by 121.5% in the 1st quarter. Assenagon Asset Management S.A. now owns 45,879 shares of the business services provider’s stock valued at $5,814,000 after buying an additional 25,165 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC increased its position in Barrett Business Services by 29.3% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 12,984 shares of the business services provider’s stock worth $1,645,000 after buying an additional 2,945 shares during the period. Institutional investors own 86.76% of the company’s stock.

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.