Barrett Business Services (NASDAQ:BBSI) Releases Quarterly Earnings Results, Beats Estimates By $0.05 EPS

Key Points

• Barrett Business Services reported earnings of $0.70 EPS for the quarter, exceeding analyst expectations of $0.65 EPS, alongside a 10% increase in revenue year-over-year to $307.70 million.
• The company declared a $0.08 per share quarterly dividend, with an annualized payout of $0.32, representing a 0.7% dividend yield and a payout ratio of 15.76%.
• Institutional investors hold 86.76% of Barrett Business Services' stock, indicating strong institutional interest in the company.

Barrett Business Services (NASDAQ:BBSI - Get Free Report) posted its quarterly earnings results on Wednesday. The business services provider reported $0.70 earnings per share for the quarter, topping analysts' consensus estimates of $0.65 by $0.05, Zacks reports. The business had revenue of $307.70 million during the quarter, compared to the consensus estimate of $299.95 million. Barrett Business Services had a net margin of 4.49% and a return on equity of 24.59%. Barrett Business Services's revenue for the quarter was up 10.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.62 earnings per share.

Barrett Business Services Trading Up 0.5%

NASDAQ:BBSI traded up $0.24 during trading hours on Tuesday, hitting $46.76. The stock had a trading volume of 4,837 shares, compared to its average volume of 142,784. Barrett Business Services has a one year low of $34.36 and a one year high of $48.48. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.25 and a current ratio of 1.25. The company has a market cap of $1.20 billion, a price-to-earnings ratio of 22.95, a P/E/G ratio of 1.54 and a beta of 1.02. The business's 50 day moving average is $43.30 and its 200-day moving average is $41.84.

Barrett Business Services Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 5th. Shareholders of record on Friday, August 22nd will be paid a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Friday, August 22nd. Barrett Business Services's dividend payout ratio is presently 15.76%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Barrington Research boosted their price target on shares of Barrett Business Services from $45.00 to $49.00 and gave the stock an "outperform" rating in a research note on Thursday, August 7th. Wall Street Zen downgraded shares of Barrett Business Services from a "strong-buy" rating to a "hold" rating in a research note on Friday, May 16th.

Insider Buying and Selling at Barrett Business Services

In other Barrett Business Services news, Director Anthony Meeker sold 7,380 shares of the company's stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $42.14, for a total value of $310,993.20. Following the completion of the sale, the director owned 55,504 shares of the company's stock, valued at approximately $2,338,938.56. This represents a 11.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Gerald Blotz sold 13,327 shares of the company's stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $42.71, for a total transaction of $569,196.17. Following the completion of the sale, the chief operating officer directly owned 209,096 shares of the company's stock, valued at $8,930,490.16. The trade was a 5.99% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 33,061 shares of company stock valued at $1,406,470. Corporate insiders own 4.10% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Creative Planning boosted its holdings in shares of Barrett Business Services by 71.8% in the second quarter. Creative Planning now owns 9,778 shares of the business services provider's stock valued at $408,000 after buying an additional 4,085 shares during the period. Jane Street Group LLC acquired a new position in shares of Barrett Business Services in the first quarter valued at approximately $1,732,000. Millennium Management LLC acquired a new position in shares of Barrett Business Services in the first quarter valued at approximately $3,747,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Barrett Business Services by 4.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,219 shares of the business services provider's stock valued at $626,000 after buying an additional 633 shares during the period. Institutional investors and hedge funds 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.