Zacks: Analysts Anticipate Barrett Business Services, Inc. (NASDAQ:BBSI) Will Announce Quarterly Sales of $1.61 Billion

Analysts forecast that Barrett Business Services, Inc. (NASDAQ:BBSI) will post sales of $1.61 billion for the current quarter, Zacks reports. Two analysts have provided estimates for Barrett Business Services’ earnings, with the lowest sales estimate coming in at $1.59 billion and the highest estimate coming in at $1.63 billion. Barrett Business Services reported sales of $1.51 billion during the same quarter last year, which would suggest a positive year-over-year growth rate of 6.6%. The company is expected to issue its next quarterly earnings results on Tuesday, November 2nd.

On average, 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 fiscal year, analysts forecast that the business will post sales of $6.94 billion, with estimates ranging from $6.84 billion to $7.04 billion. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that cover Barrett Business Services.

Barrett Business Services (NASDAQ:BBSI) last posted its quarterly earnings data on Tuesday, August 3rd. The business services provider reported $2.24 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.50 by $0.74. The firm had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.53 billion. Barrett Business Services had a return on equity of 19.60% and a net margin of 4.19%.

Several equities research analysts recently issued reports on BBSI shares. Zacks Investment Research upgraded Barrett Business Services from a “hold” rating to a “buy” rating and set a $86.00 price objective on the stock in a report on Wednesday, September 8th. Roth Capital boosted their price objective on Barrett Business Services from $88.00 to $98.00 and gave the company a “buy” rating in a report on Thursday, August 5th. They noted that the move was a valuation call. Finally, TheStreet upgraded Barrett Business Services from a “c+” rating to a “b-” rating in a report on Monday, August 23rd.

In other news, Director Anthony Meeker sold 2,000 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at approximately $1,250,711.40. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 2.40% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Captrust Financial Advisors boosted its position in shares of Barrett Business Services by 1.5% in the 1st quarter. Captrust Financial Advisors now owns 12,113 shares of the business services provider’s stock valued at $838,000 after purchasing an additional 178 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of Barrett Business Services by 0.3% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 52,477 shares of the business services provider’s stock valued at $3,811,000 after purchasing an additional 181 shares during the period. The Manufacturers Life Insurance Company boosted its position in shares of Barrett Business Services by 5.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 4,718 shares of the business services provider’s stock valued at $343,000 after purchasing an additional 234 shares during the period. Nuveen Asset Management LLC boosted its position in shares of Barrett Business Services by 0.8% in the 2nd quarter. Nuveen Asset Management LLC now owns 32,235 shares of the business services provider’s stock valued at $2,340,000 after purchasing an additional 241 shares during the period. Finally, Truvestments Capital LLC boosted its position in shares of Barrett Business Services by 19.1% in the 2nd quarter. Truvestments Capital LLC now owns 1,599 shares of the business services provider’s stock valued at $116,000 after purchasing an additional 256 shares during the period. 80.64% of the stock is owned by hedge funds and other institutional investors.

Shares of BBSI stock traded up $0.03 on Friday, hitting $74.31. The stock had a trading volume of 115 shares, compared to its average volume of 29,965. 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 firm has a market capitalization of $561.63 million, a P/E ratio of 14.95, a P/E/G ratio of 1.38 and a beta of 1.59. Barrett Business Services has a 1 year low of $47.90 and a 1 year high of $79.73. The company’s 50 day moving average price is $74.69 and its 200-day moving average price is $73.43.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 3rd. Stockholders of record on Friday, August 20th were given a dividend of $0.30 per share. The ex-dividend date 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 currently 27.33%.

Barrett Business Services Company Profile

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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