Barrett Business Services, Inc. (NASDAQ:BBSI) Expected to Post Quarterly Sales of $1.70 Billion

Wall Street brokerages expect Barrett Business Services, Inc. (NASDAQ:BBSI) to report sales of $1.70 billion for the current quarter, Zacks reports. Two analysts have made estimates for Barrett Business Services’ earnings, with the highest sales estimate coming in at $1.72 billion and the lowest estimate coming in at $1.68 billion. Barrett Business Services reported sales of $1.60 billion in the same quarter last year, which indicates a positive year over year growth rate of 6.3{ac23b82de22bd478cde2a3afa9e55fd5f696f5668b46466ac4c8be2ee1b69550}. The company is scheduled to announce its next earnings results on Wednesday, March 2nd.

According to Zacks, analysts expect that Barrett Business Services will report full-year sales of $6.47 billion for the current fiscal year, with estimates ranging from $6.45 billion to $6.49 billion. For the next fiscal year, analysts expect that the company will report sales of $7.03 billion, with estimates ranging from $6.96 billion to $7.10 billion. Zacks Investment Research’s sales averages are an average based on a survey of analysts that follow Barrett Business Services.

Barrett Business Services (NASDAQ:BBSI) last issued its earnings results on Tuesday, November 2nd. The business services provider reported $1.96 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.03 by ($0.07). Barrett Business Services had a net margin of 3.72{ac23b82de22bd478cde2a3afa9e55fd5f696f5668b46466ac4c8be2ee1b69550} and a return on equity of 17.53{ac23b82de22bd478cde2a3afa9e55fd5f696f5668b46466ac4c8be2ee1b69550}. The firm had revenue of $1.69 billion during the quarter, compared to analyst estimates of $1.61 billion. During the same quarter in the prior year, the firm posted $2.40 EPS.

Several brokerages have recently commented on BBSI. Zacks Investment Research upgraded shares of Barrett Business Services from a “sell” rating to a “hold” rating in a research note on Monday, November 15th. Barrington Research lifted their price target on Barrett Business Services from $86.00 to $95.00 and gave the company an “outperform” rating in a report on Friday, November 5th.


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In other news, Director Jon L. Justesen sold 1,457 shares of the company’s stock in a transaction dated Monday, November 22nd. The stock was sold at an average price of $76.50, for a total value of $111,460.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Vincent P. Price purchased 1,500 shares of the stock in a transaction dated Friday, December 17th. The stock was bought at an average cost of $66.25 per share, with a total value of $99,375.00. The disclosure for this purchase can be found here. Insiders own 2.40{ac23b82de22bd478cde2a3afa9e55fd5f696f5668b46466ac4c8be2ee1b69550} of the company’s stock.

Several hedge funds have recently made changes to their positions in the company. American Century Companies Inc. increased its stake in shares of Barrett Business Services by 0.8{ac23b82de22bd478cde2a3afa9e55fd5f696f5668b46466ac4c8be2ee1b69550} in the 3rd quarter. American Century Companies Inc. now owns 515,133 shares of the business services provider’s stock valued at $39,284,000 after acquiring an additional 3,925 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of Barrett Business Services by 4.1{ac23b82de22bd478cde2a3afa9e55fd5f696f5668b46466ac4c8be2ee1b69550} in the 2nd quarter. JPMorgan Chase & Co. now owns 274,965 shares of the business services provider’s stock valued at $19,965,000 after purchasing an additional 10,732 shares during the period. Private Capital Management LLC grew its position in shares of Barrett Business Services by 0.4{ac23b82de22bd478cde2a3afa9e55fd5f696f5668b46466ac4c8be2ee1b69550} in the 2nd quarter. Private Capital Management LLC now owns 204,420 shares of the business services provider’s stock valued at $14,843,000 after purchasing an additional 740 shares during the period. FMR LLC grew its position in shares of Barrett Business Services by 13.7{ac23b82de22bd478cde2a3afa9e55fd5f696f5668b46466ac4c8be2ee1b69550} in the 1st quarter. FMR LLC now owns 173,432 shares of the business services provider’s stock valued at $13,411,000 after purchasing an additional 20,901 shares during the period. Finally, Pacific Ridge Capital Partners LLC grew its position in shares of Barrett Business Services by 1.6{ac23b82de22bd478cde2a3afa9e55fd5f696f5668b46466ac4c8be2ee1b69550} in the 2nd quarter. Pacific Ridge Capital Partners LLC now owns 172,357 shares of the business services provider’s stock valued at $12,515,000 after purchasing an additional 2,723 shares during the period. 80.69{ac23b82de22bd478cde2a3afa9e55fd5f696f5668b46466ac4c8be2ee1b69550} of the stock is owned by institutional investors.

Shares of NASDAQ:BBSI opened at $68.80 on Friday. Barrett Business Services has a 52 week low of $62.30 and a 52 week high of $86.82. The company’s fifty day moving average is $73.32 and its 200-day moving average is $75.04. The company has a market capitalization of $516.34 million, a PE ratio of 15.19, a P/E/G ratio of 1.26 and a beta of 1.49.

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 3rd. Shareholders of record on Friday, November 19th were issued a dividend of $0.30 per share. The ex-dividend date of this dividend was Thursday, November 18th. This represents a $1.20 annualized dividend and a yield of 1.74{ac23b82de22bd478cde2a3afa9e55fd5f696f5668b46466ac4c8be2ee1b69550}. Barrett Business Services’s dividend payout ratio is currently 26.49{ac23b82de22bd478cde2a3afa9e55fd5f696f5668b46466ac4c8be2ee1b69550}.

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.

Further Reading: Net Margin

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