Barrett Business Services, Inc. plans a stock split, offering 4 shares for every 1 share owned, set for June 24, 2024.
The company has consistently beaten earnings consensus estimates in the last four quarters, showcasing its operational efficiency and market competitiveness.
With earnings expected to reach $7.95 per share for the current fiscal year and revenue forecasts promising a 7.02% change, BBSI presents a strong potential for growth.
Barrett Business Services, Inc. (NASDAQ:BBSI) is set for a significant event on June 24, 2024, with a planned stock split where investors will receive 4 shares for every 1 share they own. This move comes at a time when BBSI has been performing exceptionally well in the stock market, having recently hit a new 52-week high of $132.9. This achievement is a testament to the company’s strong performance, which has seen its stock price increase by 7.3% over the past month and 14.3% since the start of the year. Such growth not only highlights BBSI’s success but also its outperformance compared to the broader Zacks Business Services sector and the Zacks Outsourcing industry, which have grown by 4.1% and 2.9%, respectively.
Barrett Business Services, specializing in providing business management solutions, has consistently surpassed earnings expectations. The company has beaten earnings consensus estimates in the last four quarters, a streak that underscores its operational efficiency and market competitiveness. In its latest earnings report, BBSI reported an earnings per share (EPS) of $-0.02, significantly better than the consensus estimate of $-0.31. Additionally, the company’s revenue exceeded expectations by 1.62%, further solidifying its financial health and growth trajectory.
Looking forward, Barrett Business Services is projected to continue its upward trend, with earnings expected to reach $7.95 per share for the current fiscal year. Revenue forecasts also look promising, with an anticipated $8.26 billion, marking a 7.58% change in EPS and a 7.02% change in revenues. These projections indicate a strong potential for further growth, making BBSI an attractive option for investors.
The stock split announcement and the company’s robust financial performance have contributed to a slight fluctuation in BBSI’s stock price, which currently stands at $131.78 after a minor decrease of $0.47. Despite this small dip, the company’s stock has experienced significant growth over the past year, ranging from a low of $82.44 to a high of $137.37. With a market capitalization of around $862.08 million and a trading volume of 53,712 shares on the NASDAQ exchange, Barrett Business Services continues to demonstrate its strength and resilience in the market.