Brokerages Expect BG Staffing Inc (BGSF) Will Post Quarterly Sales of $77.70 Million
Wall Street analysts expect BG Staffing Inc (NASDAQ:BGSF) to announce sales of $77.70 million for the current quarter, Zacks reports. Two analysts have issued estimates for BG Staffing’s earnings, with the highest sales estimate coming in at $79.63 million and the lowest estimate coming in at $75.77 million. BG Staffing reported sales of $67.41 million during the same quarter last year, which would suggest a positive year over year growth rate of 15.3%. The company is expected to announce its next earnings results on Monday, October 30th.
According to Zacks, analysts expect that BG Staffing will report full-year sales of $77.70 million for the current financial year, with estimates ranging from $272.73 million to $281.19 million. For the next financial year, analysts expect that the business will report sales of $294.56 million per share, with estimates ranging from $288.15 million to $300.98 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that cover BG Staffing.
BG Staffing (NASDAQ:BGSF) last released its quarterly earnings results on Thursday, July 27th. The company reported $0.25 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.24 by $0.01. BG Staffing had a net margin of 3.32% and a return on equity of 22.69%. The firm had revenue of $68.77 million for the quarter, compared to the consensus estimate of $70.05 million.
Separately, Zacks Investment Research raised shares of BG Staffing from a “hold” rating to a “buy” rating and set a $18.00 price objective for the company in a report on Thursday, May 11th.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Acadian Asset Management LLC boosted its holdings in shares of BG Staffing by 7.5% during the 2nd quarter. Acadian Asset Management LLC now owns 133,468 shares of the company’s stock worth $2,318,000 after buying an additional 9,362 shares during the period. Vanguard Group Inc. boosted its holdings in shares of BG Staffing by 7.1% during the 2nd quarter. Vanguard Group Inc. now owns 334,160 shares of the company’s stock worth $5,808,000 after buying an additional 22,254 shares during the period. Northern Trust Corp boosted its holdings in shares of BG Staffing by 81.7% during the 2nd quarter. Northern Trust Corp now owns 24,589 shares of the company’s stock worth $428,000 after buying an additional 11,059 shares during the period. Menta Capital LLC boosted its holdings in shares of BG Staffing by 5.0% during the 2nd quarter. Menta Capital LLC now owns 20,042 shares of the company’s stock worth $348,000 after buying an additional 950 shares during the period. Finally, New York State Common Retirement Fund bought a new stake in shares of BG Staffing during the 2nd quarter worth $129,000.
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Shares of BG Staffing (BGSF) opened at 16.14 on Friday. BG Staffing has a 1-year low of $11.23 and a 1-year high of $18.84. The company’s 50-day moving average is $15.83 and its 200 day moving average is $15.83. The stock has a market cap of $141.37 million and a P/E ratio of 17.47.
BG Staffing Company Profile
BG Staffing, Inc (BG Staffing) is a provider of temporary staffing services. The Company provides temporary workers to a range of customers that are seeking to match their workforce requirements to their business needs. Its customers operate across a diverse set of industries. The Company’s operations are organized into three segments: Commercial, Multifamily and Professional.
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