Brokerages expect that TriNet Group Inc (NYSE:TNET) will announce $0.67 earnings per share (EPS) for the current quarter, Zacks reports. Three analysts have made estimates for TriNet Group’s earnings, with the lowest EPS estimate coming in at $0.64 and the highest estimate coming in at $0.71. TriNet Group posted earnings per share of $0.52 in the same quarter last year, which indicates a positive year over year growth rate of 28.8%. The firm is expected to report its next earnings results on Monday, July 30th.
On average, analysts expect that TriNet Group will report full year earnings of $2.71 per share for the current year, with EPS estimates ranging from $2.61 to $2.78. For the next fiscal year, analysts forecast that the firm will report earnings of $2.95 per share, with EPS estimates ranging from $2.81 to $3.12. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research firms that cover TriNet Group.
TriNet Group (NYSE:TNET) last announced its quarterly earnings data on Monday, April 30th. The business services provider reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.15. TriNet Group had a return on equity of 83.91% and a net margin of 6.09%. The company had revenue of $220.00 million during the quarter, compared to analyst estimates of $217.55 million. During the same quarter last year, the firm posted $0.45 EPS. The firm’s revenue for the quarter was up 10.6% on a year-over-year basis.
A number of research analysts have weighed in on TNET shares. Stifel Nicolaus reaffirmed a “buy” rating and set a $59.00 target price on shares of TriNet Group in a report on Thursday, April 12th. ValuEngine raised TriNet Group from a “hold” rating to a “buy” rating in a report on Wednesday, April 4th. Zacks Investment Research raised TriNet Group from a “sell” rating to a “strong-buy” rating and set a $54.00 target price for the company in a report on Wednesday, March 7th. Finally, Morgan Stanley lifted their target price on TriNet Group from $46.00 to $48.00 and gave the company a “hold” rating in a report on Tuesday, May 1st. One analyst has rated the stock with a sell rating, one has issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $52.00.
TNET traded up $0.26 during trading hours on Friday, hitting $55.15. The stock had a trading volume of 9,314 shares, compared to its average volume of 297,101. TriNet Group has a 1 year low of $31.20 and a 1 year high of $56.98. The firm has a market cap of $3.86 billion, a P/E ratio of 32.06 and a beta of 2.48. The company has a debt-to-equity ratio of 1.41, a quick ratio of 1.21 and a current ratio of 1.21.
TriNet Group declared that its board has authorized a share buyback plan on Tuesday, February 27th that authorizes the company to buyback $120.00 million in shares. This buyback authorization authorizes the business services provider to buy shares of its stock through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its shares are undervalued.
In related news, Director Martin Babinec sold 30,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 6th. The stock was sold at an average price of $56.51, for a total value of $1,695,300.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Edward Griese sold 4,553 shares of the business’s stock in a transaction that occurred on Thursday, May 17th. The stock was sold at an average price of $52.51, for a total value of $239,078.03. Following the completion of the sale, the vice president now owns 24,385 shares of the company’s stock, valued at approximately $1,280,456.35. The disclosure for this sale can be found here. Insiders have sold a total of 325,427 shares of company stock valued at $16,020,252 in the last ninety days. Insiders own 38.90% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. Point72 Asia Hong Kong Ltd bought a new stake in TriNet Group in the 1st quarter worth approximately $142,000. SG Americas Securities LLC bought a new stake in TriNet Group in the 1st quarter worth approximately $144,000. Suntrust Banks Inc. bought a new stake in TriNet Group in the 4th quarter worth approximately $218,000. Pitcairn Co. bought a new stake in TriNet Group in the 4th quarter worth approximately $230,000. Finally, Intrust Bank NA bought a new stake in TriNet Group in the 4th quarter worth approximately $231,000. Institutional investors own 88.03% of the company’s stock.
About TriNet Group
TriNet Group, Inc provides human resources solutions for small and midsize businesses in the United States and Canada. The company offers multi-state payroll processing and tax administration; employee benefits programs, including health insurance and retirement plans; workers compensation insurance and claims management; employment and benefit law compliance; and other services.
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