Wall Street brokerages forecast that Barrett Business Services, Inc. (NASDAQ:BBSI) will post $1.61 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Barrett Business Services’ earnings, with estimates ranging from $1.59 billion to $1.63 billion. Barrett Business Services posted sales of $1.51 billion in the same quarter last year, which would indicate a positive year over year growth rate of 6.6%. The company is scheduled to report its next earnings results on Tuesday, November 2nd.
According to Zacks, analysts expect that Barrett Business Services will report full year sales of $6.38 billion for the current year, with estimates ranging from $6.35 billion to $6.40 billion. For the next year, analysts expect that the firm will report sales of $6.94 billion, with estimates ranging from $6.84 billion to $7.04 billion. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for Barrett Business Services.
Barrett Business Services (NASDAQ:BBSI) last posted its earnings results on Tuesday, August 3rd. The business services provider reported $2.24 EPS for the quarter, beating the Zacks’ consensus estimate of $1.50 by $0.74. The company had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.53 billion. Barrett Business Services had a net margin of 4.19% and a return on equity of 19.60%.
BBSI stock traded up $0.03 during midday trading on Friday, hitting $74.31. 115 shares of the stock traded hands, compared to its average volume of 29,965. The firm has a market cap of $561.63 million, a P/E ratio of 14.95, a PEG ratio of 1.38 and a beta of 1.59. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.14 and a quick ratio of 1.14. The stock’s fifty day simple moving average is $74.69 and its 200-day simple moving average is $73.43. Barrett Business Services has a 1-year low of $47.90 and a 1-year high of $79.73.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 3rd. Stockholders of record on Friday, August 20th were paid a dividend of $0.30 per share. The ex-dividend date of this dividend was Thursday, August 19th. This represents a $1.20 annualized dividend and a dividend yield of 1.61%. Barrett Business Services’s dividend payout ratio is presently 27.33%.
In other news, Director Anthony Meeker sold 2,000 shares of the stock in a transaction that occurred on Monday, August 30th. The stock was sold at an average price of $76.17, for a total transaction of $152,340.00. Following the completion of the transaction, the director now directly owns 16,420 shares in the company, valued at approximately $1,250,711.40. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 2.40% of the stock is owned by insiders.
Institutional investors have recently bought and sold shares of the company. Truvestments Capital LLC grew its position in shares of Barrett Business Services by 150.6% during the 1st quarter. Truvestments Capital LLC now owns 1,343 shares of the business services provider’s stock valued at $92,000 after buying an additional 807 shares during the last quarter. Metropolitan Life Insurance Co NY raised its position in shares of Barrett Business Services by 116,250.0% during the 2nd quarter. Metropolitan Life Insurance Co NY now owns 2,327 shares of the business services provider’s stock worth $169,000 after purchasing an additional 2,325 shares during the period. UBS Group AG lifted its holdings in shares of Barrett Business Services by 101.5% in the 1st quarter. UBS Group AG now owns 3,242 shares of the business services provider’s stock worth $223,000 after purchasing an additional 1,633 shares during the last quarter. Janus Henderson Group PLC acquired a new position in Barrett Business Services during the 1st quarter valued at approximately $232,000. Finally, BNP Paribas Arbitrage SA increased its position in Barrett Business Services by 76.3% in the first quarter. BNP Paribas Arbitrage SA now owns 3,415 shares of the business services provider’s stock worth $235,000 after buying an additional 1,478 shares during the period. Institutional investors own 80.64% of the company’s stock.
About Barrett Business Services
Barrett Business Services, Inc engages in the provision of business management solutions for small and mid-sized companies. It develops management platform that integrates a knowledge-based approach from the management consulting industry with tools from the human resource outsourcing industry. It focuses on professional employer, and staffing and recruiting services.
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