Barrett Business Services (BBSI) Posts Quarterly Earnings Results, Beats Expectations By $0.29 EPS

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Barrett Business Services (NASDAQ:BBSI) posted its quarterly earnings results on Tuesday. The business services provider reported $2.50 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.21 by $0.29, Morningstar.com reports. The business had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.46 billion. Barrett Business Services had a net margin of 2.91% and a return on equity of 33.22%. Barrett Business Services updated its FY 2018 guidance to $4.31-4.31 EPS.

Shares of NASDAQ BBSI traded up $5.23 during trading hours on Wednesday, hitting $73.06. 63,100 shares of the stock were exchanged, compared to its average volume of 45,000. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $491.86 million, a price-to-earnings ratio of 21.94 and a beta of 0.53. Barrett Business Services has a 1-year low of $56.10 and a 1-year high of $98.76.

Several analysts recently issued reports on the stock. Zacks Investment Research upgraded shares of Barrett Business Services from a “sell” rating to a “hold” rating in a research report on Tuesday, October 9th. BidaskClub upgraded shares of Barrett Business Services from a “sell” rating to a “hold” rating in a research report on Thursday, September 27th. ValuEngine lowered shares of Barrett Business Services from a “buy” rating to a “hold” rating in a research report on Wednesday, August 8th. Finally, Sidoti assumed coverage on shares of Barrett Business Services in a research report on Tuesday, October 9th. They set a “buy” rating and a $95.00 price target on the stock. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $97.50.

In related news, Director Anthony Meeker sold 1,000 shares of the stock in a transaction that occurred on Wednesday, September 12th. The shares were sold at an average price of $66.88, for a total transaction of $66,880.00. Following the sale, the director now owns 11,894 shares in the company, valued at approximately $795,470.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 6.60% of the company’s stock.

A number of institutional investors have recently modified their holdings of the business. JPMorgan Chase & Co. boosted its position in Barrett Business Services by 1.2% in the third quarter. JPMorgan Chase & Co. now owns 554,715 shares of the business services provider’s stock valued at $37,043,000 after buying an additional 6,510 shares in the last quarter. BlackRock Inc. boosted its position in Barrett Business Services by 9.4% in the second quarter. BlackRock Inc. now owns 476,832 shares of the business services provider’s stock valued at $46,047,000 after buying an additional 40,940 shares in the last quarter. Renaissance Technologies LLC boosted its position in Barrett Business Services by 10.0% in the second quarter. Renaissance Technologies LLC now owns 406,500 shares of the business services provider’s stock valued at $39,256,000 after buying an additional 36,800 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Barrett Business Services by 1.9% in the second quarter. Dimensional Fund Advisors LP now owns 280,879 shares of the business services provider’s stock valued at $27,124,000 after buying an additional 5,123 shares in the last quarter. Finally, Northern Trust Corp boosted its position in Barrett Business Services by 2.3% in the second quarter. Northern Trust Corp now owns 175,632 shares of the business services provider’s stock valued at $16,960,000 after buying an additional 3,980 shares in the last quarter. Hedge funds and other institutional investors own 82.68% of the company’s stock.

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Barrett Business Services Company Profile

Barrett Business Services, Inc provides business management solutions for small and medium-sized companies in the United States. The company has management platform that integrates a knowledge-based approach from the management consulting industry with tools from the human resource outsourcing industry.

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Earnings History for Barrett Business Services (NASDAQ:BBSI)

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