Barrett Business Services, Inc. Announces Quarterly Dividend of $0.30 (NASDAQ:BBSI)

Barrett Business Services, Inc. (NASDAQ:BBSI) declared a quarterly dividend on Wednesday, May 1st, Zacks reports. Investors of record on Friday, May 17th will be paid a dividend of 0.30 per share by the business services provider on Friday, May 31st. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.97%. The ex-dividend date of this dividend is Thursday, May 16th.

Barrett Business Services has a dividend payout ratio of 14.0% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Barrett Business Services to earn $8.62 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 13.9%.

Barrett Business Services Stock Up 3.3 %

BBSI traded up $3.89 during trading on Friday, hitting $123.38. 44,487 shares of the company’s stock were exchanged, compared to its average volume of 30,421. Barrett Business Services has a fifty-two week low of $76.22 and a fifty-two week high of $130.00. The stock has a market cap of $806.91 million, a P/E ratio of 16.92, a PEG ratio of 1.12 and a beta of 1.37. The business’s 50 day moving average is $121.66 and its two-hundred day moving average is $113.20.

Barrett Business Services (NASDAQ:BBSI) last posted its earnings results on Wednesday, May 1st. The business services provider reported ($0.02) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.29. The company had revenue of $265.78 million for the quarter, compared to analyst estimates of $1.88 billion. Barrett Business Services had a net margin of 4.60% and a return on equity of 26.72%. During the same quarter in the prior year, the business posted $0.12 EPS. On average, sell-side analysts forecast that Barrett Business Services will post 7.78 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages recently issued reports on BBSI. StockNews.com raised shares of Barrett Business Services from a “buy” rating to a “strong-buy” rating in a research report on Thursday. Barrington Research reaffirmed an “outperform” rating and set a $141.00 price target on shares of Barrett Business Services in a research report on Thursday.

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.