Equities Analysts Issue Forecasts for BBSI FY2024 Earnings

Barrett Business Services, Inc. (NASDAQ:BBSI) – Equities research analysts at Barrington Research increased their FY2024 EPS estimates for Barrett Business Services in a research note issued to investors on Thursday, November 7th. Barrington Research analyst V. Colicchio now anticipates that the business services provider will post earnings per share of $1.97 for the year, up from their previous estimate of $1.95. Barrington Research has a “Outperform” rating and a $45.00 price target on the stock. The consensus estimate for Barrett Business Services’ current full-year earnings is $2.00 per share.

Other analysts have also recently issued research reports about the company. StockNews.com cut Barrett Business Services from a “buy” rating to a “hold” rating in a research report on Monday. Roth Mkm upped their price target on shares of Barrett Business Services from $43.00 to $45.00 and gave the company a “buy” rating in a research report on Thursday, November 7th.

Barrett Business Services Price Performance

NASDAQ BBSI opened at $42.88 on Monday. The stock has a market capitalization of $1.12 billion, a price-to-earnings ratio of 22.63, a PEG ratio of 1.39 and a beta of 1.39. Barrett Business Services has a 1-year low of $26.06 and a 1-year high of $43.18. The business’s fifty day moving average price is $37.04 and its 200-day moving average price is $34.68.

Barrett Business Services Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 22nd will be issued a $0.08 dividend. The ex-dividend date is Friday, November 22nd. This represents a $0.32 dividend on an annualized basis and a yield of 0.75%. Barrett Business Services’s dividend payout ratio is currently 16.89%.

Insider Activity at Barrett Business Services

In other Barrett Business Services news, CEO Gary Kramer sold 34,288 shares of the company’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $35.05, for a total value of $1,201,794.40. Following the completion of the sale, the chief executive officer now owns 242,543 shares in the company, valued at $8,501,132.15. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 3.70% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of BBSI. Foundry Partners LLC increased its stake in Barrett Business Services by 1.0% in the 3rd quarter. Foundry Partners LLC now owns 180,995 shares of the business services provider’s stock worth $6,789,000 after buying an additional 1,735 shares in the last quarter. Pathstone Holdings LLC boosted its stake in shares of Barrett Business Services by 3.1% in the third quarter. Pathstone Holdings LLC now owns 53,174 shares of the business services provider’s stock worth $1,995,000 after acquiring an additional 1,595 shares during the period. Mawer Investment Management Ltd. grew its position in shares of Barrett Business Services by 236.4% during the third quarter. Mawer Investment Management Ltd. now owns 1,834,452 shares of the business services provider’s stock worth $68,810,000 after purchasing an additional 1,289,147 shares in the last quarter. Quest Partners LLC raised its stake in Barrett Business Services by 5.6% during the 3rd quarter. Quest Partners LLC now owns 18,998 shares of the business services provider’s stock valued at $713,000 after purchasing an additional 1,012 shares during the period. Finally, Thrivent Financial for Lutherans bought a new stake in Barrett Business Services during the 3rd quarter valued at approximately $16,422,000. Hedge funds and other 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.