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

Barrett Business Services, Inc. (NASDAQ:BBSI) – Barrington Research lowered their Q3 2024 earnings per share (EPS) estimates for shares of Barrett Business Services in a research note issued on Thursday, May 2nd. Barrington Research analyst V. Colicchio now expects that the business services provider will post earnings per share of $2.83 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.

Barrett Business Services (NASDAQ:BBSI) last released its quarterly earnings data on Wednesday, May 1st. The business services provider reported ($0.02) EPS for the quarter, beating the consensus estimate of ($0.31) by $0.29. The company had revenue of $265.78 million during the quarter, compared to the consensus estimate of $1.88 billion. Barrett Business Services had a return on equity of 26.72% and a net margin of 4.60%. During the same quarter in the prior year, the firm posted $0.12 EPS.

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

Barrett Business Services Price Performance

Shares of BBSI opened at $123.38 on Monday. The company has a market cap of $806.91 million, a PE ratio of 16.92, a price-to-earnings-growth ratio of 1.11 and a beta of 1.37. The firm has a 50-day moving average of $121.66 and a 200-day moving average of $113.49. Barrett Business Services has a one year low of $76.22 and a one year high of $130.00.

Institutional Investors Weigh In On Barrett Business Services

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 fourth quarter valued at approximately $2,399,000. Equitable Trust Co. lifted its position in Barrett Business Services by 10.1% during the fourth quarter. Equitable Trust Co. now owns 10,010 shares of the business services provider’s stock worth $1,159,000 after purchasing an additional 920 shares during the period. FMR LLC grew its stake in Barrett Business Services by 4.3% during the third quarter. FMR LLC now owns 315,370 shares of the business services provider’s stock worth $28,459,000 after buying an additional 12,997 shares in the last quarter. Barclays PLC increased its holdings in Barrett Business Services by 34.0% in the 3rd quarter. Barclays PLC now owns 6,362 shares of the business services provider’s stock valued at $573,000 after buying an additional 1,614 shares during the period. Finally, Gladius Capital Management LP raised its position in shares of Barrett Business Services by 82.2% in the 3rd quarter. Gladius Capital Management LP now owns 1,971 shares of the business services provider’s stock valued at $178,000 after buying an additional 889 shares in 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 disclosed 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 annualized dividend and a yield of 0.97%. Barrett Business Services’s dividend payout ratio (DPR) is presently 16.46%.

About Barrett Business Services

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.