Roth Capital Has Bearish Outlook for BBSI FY2024 Earnings

Barrett Business Services, Inc. (NASDAQ:BBSI - Free Report) - Stock analysts at Roth Capital lowered their FY2024 earnings per share estimates for Barrett Business Services in a research note issued to investors on Thursday, November 7th. Roth Capital analyst J. Martin now expects that the business services provider will earn $2.02 per share for the year, down from their prior forecast of $2.03. The consensus estimate for Barrett Business Services' current full-year earnings is $1.99 per share. Roth Capital also issued estimates for Barrett Business Services' Q4 2024 earnings at $0.66 EPS and Q3 2025 earnings at $0.88 EPS.

Other equities analysts also recently issued reports about the stock. Barrington Research increased their price objective on shares of Barrett Business Services from $41.00 to $45.00 and gave the company an "outperform" rating in a report on Thursday. Roth Mkm lifted their price target on shares of Barrett Business Services from $43.00 to $45.00 and gave the company a "buy" rating in a research report on Thursday.

Barrett Business Services Stock Performance

Shares of BBSI traded up $1.67 during trading hours on Monday, hitting $43.04. The stock had a trading volume of 87,069 shares, compared to its average volume of 135,980. Barrett Business Services has a fifty-two week low of $26.06 and a fifty-two week high of $43.05. The firm has a market capitalization of $1.13 billion, a price-to-earnings ratio of 21.83, a PEG ratio of 1.35 and a beta of 1.39. The firm has a 50-day moving average price of $36.91 and a 200 day moving average price of $34.59.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Mawer Investment Management Ltd. grew its stake in shares of Barrett Business Services by 236.4% during the third quarter. Mawer Investment Management Ltd. now owns 1,834,452 shares of the business services provider's stock worth $68,810,000 after purchasing an additional 1,289,147 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Barrett Business Services by 281.9% in the second quarter. Dimensional Fund Advisors LP now owns 867,708 shares of the business services provider's stock valued at $28,435,000 after purchasing an additional 640,508 shares during the last quarter. Renaissance Technologies LLC lifted its position in shares of Barrett Business Services by 299.4% in the second quarter. Renaissance Technologies LLC now owns 798,500 shares of the business services provider's stock valued at $26,167,000 after acquiring an additional 598,567 shares in the last quarter. Thrivent Financial for Lutherans acquired a new stake in Barrett Business Services during the third quarter worth approximately $16,422,000. Finally, American Century Companies Inc. boosted its position in Barrett Business Services by 155.9% during the second quarter. American Century Companies Inc. now owns 535,896 shares of the business services provider's stock worth $17,561,000 after acquiring an additional 326,502 shares during the last quarter. Hedge funds and other institutional investors own 86.76% of the company's stock.

Insider Buying and Selling

In other Barrett Business Services news, CEO Gary Kramer sold 805 shares of the business's stock in a transaction on Monday, August 19th. The shares were sold at an average price of $35.00, for a total value of $28,175.00. Following the completion of the transaction, the chief executive officer now owns 276,831 shares in the company, valued at $9,689,085. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 3.70% of the stock is owned by insiders.

Barrett Business Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 22nd will be issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.74%. The ex-dividend date of this dividend is Friday, November 22nd. Barrett Business Services's dividend payout ratio (DPR) is currently 16.89%.

About Barrett Business Services

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.