Barrett Business Services, Inc. (NASDAQ:BBSI) Declares Quarterly Dividend of $0.08

Key Points

• Barrett Business Services declared a quarterly dividend of $0.08 per share, payable September 4 to shareholders of record on August 21. The dividend implies an annualized payout of $0.32 and a yield of approximately 0.8%, with a 13% payout ratio.
• The company reported quarterly EPS of $0.52, below analysts’ $0.56 consensus, while revenue of $319.27 million also fell short of the $321.55 million estimate.
• Analyst sentiment remains moderately positive, with a consensus “Moderate Buy” rating and an average price target of $39.50; shares opened at $40.11, above that target.

Barrett Business Services, Inc. (NASDAQ:BBSI - Get Free Report) declared a quarterly dividend on Wednesday, August 5th. Stockholders of record on Friday, August 21st will be given a dividend of 0.08 per share by the business services provider on Friday, September 4th. This represents a c) annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend is Friday, August 21st.

Barrett Business Services has increased its dividend by an average of 0.0%per year over the last three years and has increased its dividend annually for the last 1 consecutive years. Barrett Business Services has a payout ratio of 13.0% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Barrett Business Services to earn $2.22 per share next year, which means the company should continue to be able to cover its $0.32 annual dividend with an expected future payout ratio of 14.4%.

Barrett Business Services Stock Performance

Shares of NASDAQ:BBSI opened at $40.11 on Thursday. The firm has a market cap of $985.10 million, a price-to-earnings ratio of 26.05, a P/E/G ratio of 1.33 and a beta of 0.94. The firm has a fifty day moving average price of $36.52 and a 200 day moving average price of $33.13. Barrett Business Services has a fifty-two week low of $25.33 and a fifty-two week high of $49.65.

Barrett Business Services (NASDAQ:BBSI - Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The business services provider reported $0.52 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.56 by ($0.04). The company had revenue of $319.27 million during the quarter, compared to the consensus estimate of $321.55 million. Barrett Business Services had a net margin of 3.24% and a return on equity of 22.89%. As a group, research analysts predict that Barrett Business Services will post 1.88 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Weiss Ratings upgraded Barrett Business Services from a "hold (c-)" rating to a "hold (c)" rating in a research report on Monday, July 13th. Barrington Research reiterated an "outperform" rating and issued a $41.00 target price on shares of Barrett Business Services in a research report on Monday, April 27th. Roth Capital lowered Barrett Business Services to a "neutral" rating and set a $38.00 price target for the company. in a research note on Thursday. Zacks Research upgraded Barrett Business Services from a "strong sell" rating to a "hold" rating in a report on Tuesday, April 28th. Finally, Wall Street Zen raised Barrett Business Services from a "sell" rating to a "hold" rating in a research note on Saturday, June 6th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $39.50.

Barrett Business Services Company Profile

Barrett Business Services, Inc NASDAQ: BBSI is a professional employer organization (PEO) headquartered in Northridge, California. Founded in 1971 by Barrett K. Levesque, the company provides comprehensive human resources outsourcing solutions to small and mid-sized businesses. Through its consultative model, Barrett Business Services helps clients streamline administrative processes, mitigate regulatory risk and focus on core operations.

The company's core offerings include payroll administration, employee benefits management, workers' compensation and risk management services.

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