BG Staffing (BGSF) Releases Quarterly Earnings Results, Beats Expectations By $0.08 EPS

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BG Staffing (NYSEAMERICAN:BGSF) issued its earnings results on Tuesday. The business services provider reported $0.49 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.41 by $0.08, Fidelity Earnings reports. The business had revenue of $77.06 million during the quarter, compared to analysts’ expectations of $76.39 million. BG Staffing had a return on equity of 30.25% and a net margin of 4.40%.

BGSF traded up $1.11 during trading on Wednesday, reaching $25.94. 1,607 shares of the stock traded hands, compared to its average volume of 71,656. BG Staffing has a fifty-two week low of $14.65 and a fifty-two week high of $29.59.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 13th. Investors of record on Monday, November 5th will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Friday, November 2nd. This represents a $1.20 dividend on an annualized basis and a yield of 4.63%.

In other BG Staffing news, insider L. Allen Jr. Baker sold 87,956 shares of the firm’s stock in a transaction dated Friday, August 31st. The stock was sold at an average price of $24.12, for a total transaction of $2,121,498.72. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Richard L. Baum, Jr. sold 14,000 shares of the firm’s stock in a transaction dated Thursday, September 27th. The shares were sold at an average price of $28.00, for a total value of $392,000.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 225,406 shares of company stock valued at $5,853,197.

A hedge fund recently raised its stake in BG Staffing stock. Bank of New York Mellon Corp raised its stake in shares of BG Staffing Inc (NYSEAMERICAN:BGSF) by 5.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 117,625 shares of the business services provider’s stock after purchasing an additional 5,947 shares during the quarter. Bank of New York Mellon Corp owned 1.17% of BG Staffing worth $2,735,000 as of its most recent filing with the Securities and Exchange Commission.

Separately, Zacks Investment Research cut BG Staffing from a “buy” rating to a “hold” rating in a research report on Tuesday, July 3rd.

About BG Staffing

BG Staffing, Inc provides temporary staffing services in the United States. It operates in three segments: Multifamily, Professional, and Commercial. The Multifamily segment offers temporary front office and maintenance personnel to the various apartment communities. The Professional segment provides skilled temporary IT professionals with expertise in SAP, Workday, Olik View, Hyperion, Oracle, project management, and other IT staffing skills, as well as finance, accounting, and related support personnel.

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Earnings History for BG Staffing (NYSEAMERICAN:BGSF)

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