Barrett Business Services (NASDAQ:BBSI) Issues Quarterly Earnings Results, Beats Expectations By $0.61 EPS

Barrett Business Services (NASDAQ:BBSIGet Rating) posted its earnings results on Wednesday. The business services provider reported $2.48 earnings per share for the quarter, topping the consensus estimate of $1.87 by $0.61, Fidelity Earnings reports. Barrett Business Services had a return on equity of 21.85% and a net margin of 4.33%. During the same period last year, the company posted $2.24 earnings per share.

Barrett Business Services Stock Up 3.0 %

Shares of NASDAQ:BBSI traded up $2.42 during mid-day trading on Friday, reaching $83.10. 41,282 shares of the stock were exchanged, compared to its average volume of 33,231. The company has a market cap of $608.29 million, a P/E ratio of 14.13, a P/E/G ratio of 0.87 and a beta of 1.39. Barrett Business Services has a one year low of $57.76 and a one year high of $86.82. The stock’s 50 day simple moving average is $74.84 and its 200-day simple moving average is $72.00.

Barrett Business Services Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 2nd. Shareholders of record on Friday, August 19th will be issued a $0.30 dividend. The ex-dividend date of this dividend is Thursday, August 18th. This represents a $1.20 annualized dividend and a dividend yield of 1.44%. Barrett Business Services’s dividend payout ratio (DPR) is currently 20.41%.

Analysts Set New Price Targets

A number of brokerages have recently commented on BBSI. Sidoti reiterated a “buy” rating and set a $97.00 price target on shares of Barrett Business Services in a report on Tuesday, June 14th. TheStreet cut Barrett Business Services from a “b-” rating to a “c+” rating in a research report on Tuesday, May 24th. Barrington Research boosted their price objective on Barrett Business Services from $85.00 to $102.00 in a research report on Thursday, May 5th. StockNews.com cut Barrett Business Services from a “strong-buy” rating to a “buy” rating in a research report on Friday, May 13th. Finally, Roth Capital restated a “buy” rating on shares of Barrett Business Services in a research report on Thursday, May 5th. Four equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $102.33.

Insider Buying and Selling

In other Barrett Business Services news, CEO Gary Kramer acquired 1,000 shares of the business’s stock in a transaction dated Friday, May 20th. The stock was bought at an average cost of $70.13 per share, with a total value of $70,130.00. Following the completion of the transaction, the chief executive officer now directly owns 34,451 shares in the company, valued at approximately $2,416,048.63. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 3.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Barrett Business Services

Hedge funds have recently added to or reduced their stakes in the stock. Polar Asset Management Partners Inc. bought a new position in shares of Barrett Business Services in the 1st quarter valued at $3,085,000. State Street Corp increased its stake in shares of Barrett Business Services by 20.6% in the 1st quarter. State Street Corp now owns 194,516 shares of the business services provider’s stock valued at $15,118,000 after purchasing an additional 33,234 shares during the last quarter. Royal Bank of Canada increased its stake in shares of Barrett Business Services by 89.1% in the 1st quarter. Royal Bank of Canada now owns 60,422 shares of the business services provider’s stock valued at $4,681,000 after purchasing an additional 28,473 shares during the last quarter. BlackRock Inc. increased its stake in shares of Barrett Business Services by 5.1% in the 1st quarter. BlackRock Inc. now owns 564,551 shares of the business services provider’s stock valued at $43,735,000 after purchasing an additional 27,181 shares during the last quarter. Finally, Private Capital Management LLC increased its stake in shares of Barrett Business Services by 11.0% in the 1st quarter. Private Capital Management LLC now owns 237,730 shares of the business services provider’s stock valued at $18,417,000 after purchasing an additional 23,635 shares during the last quarter. Institutional investors own 81.74% of the company’s stock.

Barrett Business Services Company Profile

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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.

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Earnings History for Barrett Business Services (NASDAQ:BBSI)

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