Brokerages expect Barrett Business Services, Inc. (NASDAQ:BBSI) to post earnings of $1.30 per share for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Barrett Business Services’ earnings, with the lowest EPS estimate coming in at $1.24 and the highest estimate coming in at $1.36. Barrett Business Services posted earnings per share of $2.21 during the same quarter last year, which suggests a negative year-over-year growth rate of 41.2%. The business is scheduled to report its next quarterly earnings report on Tuesday, February 25th.
According to Zacks, analysts expect that Barrett Business Services will report full year earnings of $6.06 per share for the current year, with EPS estimates ranging from $6.05 to $6.07. For the next year, analysts forecast that the company will report earnings of $6.22 per share, with EPS estimates ranging from $6.13 to $6.30. Zacks Investment Research’s EPS averages are a mean average based on a survey of analysts that that provide coverage for Barrett Business Services.
Barrett Business Services (NASDAQ:BBSI) last announced its quarterly earnings data on Tuesday, November 5th. The business services provider reported $3.24 EPS for the quarter, beating the Zacks’ consensus estimate of $2.30 by $0.94. The business had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.55 billion. Barrett Business Services had a return on equity of 39.84% and a net margin of 5.72%.
BBSI has been the subject of a number of recent analyst reports. Zacks Investment Research raised Barrett Business Services from a “hold” rating to a “strong-buy” rating and set a $109.00 price objective for the company in a research report on Friday, November 8th. Barrington Research reaffirmed a “buy” rating and issued a $110.00 price objective on shares of Barrett Business Services in a research report on Tuesday, December 17th. BidaskClub raised Barrett Business Services from a “hold” rating to a “buy” rating in a research report on Wednesday, December 18th. Finally, ValuEngine downgraded Barrett Business Services from a “sell” rating to a “strong sell” rating in a research report on Saturday. One investment analyst has rated the stock with a sell rating, three have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $116.33.
In related news, COO Gerald Blotz sold 5,482 shares of Barrett Business Services stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $90.89, for a total value of $498,258.98. Following the transaction, the chief operating officer now owns 26,604 shares in the company, valued at $2,418,037.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Thomas J. Carley sold 2,000 shares of Barrett Business Services stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $88.32, for a total value of $176,640.00. Following the completion of the transaction, the director now owns 9,558 shares in the company, valued at approximately $844,162.56. The disclosure for this sale can be found here. Insiders sold 9,508 shares of company stock worth $867,369 in the last quarter. 6.80% of the stock is owned by insiders.
Several institutional investors and hedge funds have recently modified their holdings of BBSI. California State Teachers Retirement System increased its holdings in Barrett Business Services by 1.2% in the third quarter. California State Teachers Retirement System now owns 11,174 shares of the business services provider’s stock valued at $992,000 after buying an additional 134 shares during the last quarter. Envestnet Asset Management Inc. lifted its position in shares of Barrett Business Services by 5.7% during the 2nd quarter. Envestnet Asset Management Inc. now owns 2,770 shares of the business services provider’s stock valued at $229,000 after acquiring an additional 150 shares during the last quarter. Swiss National Bank lifted its position in shares of Barrett Business Services by 2.2% during the 2nd quarter. Swiss National Bank now owns 13,700 shares of the business services provider’s stock valued at $1,132,000 after acquiring an additional 300 shares during the last quarter. United Services Automobile Association lifted its position in shares of Barrett Business Services by 7.7% during the 2nd quarter. United Services Automobile Association now owns 4,253 shares of the business services provider’s stock valued at $351,000 after acquiring an additional 303 shares during the last quarter. Finally, Point72 Hong Kong Ltd acquired a new stake in shares of Barrett Business Services during the 2nd quarter valued at $28,000. Institutional investors own 82.03% of the company’s stock.
Shares of NASDAQ:BBSI opened at $89.80 on Wednesday. The company has a market cap of $677.85 million, a P/E ratio of 18.03, a P/E/G ratio of 1.21 and a beta of 0.97. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.14. Barrett Business Services has a 52 week low of $54.81 and a 52 week high of $95.64. The business has a fifty day simple moving average of $89.50 and a 200-day simple moving average of $87.39.
Barrett Business Services Company Profile
Barrett Business Services, Inc provides business management solutions for small and mid-sized companies in the United States. It develops a management platform that integrates a knowledge-based approach from the management consulting industry with tools from the human resource outsourcing industry. The company offers professional employer services under which it enters into a client services agreement to establish a co-employment relationship with each client company, assuming responsibility for payroll, payroll taxes, workers' compensation coverage, and other administration functions for the client's existing workforce.
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