BG Staffing (BGSF) Posts Quarterly Earnings Results, Beats Estimates By $0.08 EPS

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

NYSEAMERICAN:BGSF traded up $0.82 during trading hours on Wednesday, reaching $25.65. 19,962 shares of the company were exchanged, compared to its average volume of 71,656. BG Staffing has a twelve month low of $14.65 and a twelve month high of $29.59.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 13th. Investors of record on Monday, November 5th will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 4.68%. The ex-dividend date is Friday, November 2nd.

Separately, Zacks Investment Research upgraded shares of BG Staffing from a “hold” rating to a “strong-buy” rating and set a $30.00 target price for the company in a research note on Tuesday, July 31st.

In other BG Staffing news, Director C. David Allen, Jr. sold 3,750 shares of the company’s stock in a transaction on Friday, August 24th. The shares were sold at an average price of $27.84, for a total transaction of $104,400.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider L. Allen Jr. Baker sold 12,580 shares of the company’s stock in a transaction on Friday, August 24th. The stock was sold at an average price of $27.72, for a total transaction of $348,717.60. The disclosure for this sale can be found here. Insiders have sold 225,406 shares of company stock valued at $5,853,197 over the last 90 days.

A hedge fund recently raised its stake in BG Staffing stock. Bank of New York Mellon Corp raised its holdings in shares of BG Staffing Inc (NYSEAMERICAN:BGSF) by 5.3% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 117,625 shares of the business services provider’s stock after buying an additional 5,947 shares during the quarter. Bank of New York Mellon Corp owned about 1.17% of BG Staffing worth $2,735,000 as of its most recent SEC filing.

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.

Further Reading: How can you know how many shares are floating?

Earnings History for BG Staffing (NYSEAMERICAN:BGSF)

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