TrueBlue, Inc. (NYSE:TBI) Expected to Announce Earnings of $0.20 Per Share

Brokerages predict that TrueBlue, Inc. (NYSE:TBI) will post $0.20 earnings per share for the current quarter, Zacks reports. Zero analysts have made estimates for TrueBlue’s earnings, with the highest EPS estimate coming in at $0.28 and the lowest estimate coming in at $0.12. TrueBlue posted earnings of ($0.12) per share during the same quarter last year, which would indicate a positive year over year growth rate of 266.7%. The firm is scheduled to issue its next quarterly earnings results on Monday, July 26th.

On average, analysts expect that TrueBlue will report full-year earnings of $1.28 per share for the current financial year, with EPS estimates ranging from $1.02 to $1.53. For the next year, analysts forecast that the company will post earnings of $1.75 per share, with EPS estimates ranging from $1.60 to $1.89. Zacks’ EPS calculations are an average based on a survey of sell-side analysts that that provide coverage for TrueBlue.

TrueBlue (NYSE:TBI) last released its earnings results on Sunday, April 25th. The business services provider reported $0.25 EPS for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.32. TrueBlue had a positive return on equity of 3.97% and a negative net margin of 7.36%. The company had revenue of $458.71 million for the quarter, compared to the consensus estimate of $449.23 million. During the same quarter last year, the business posted ($0.01) EPS. TrueBlue’s quarterly revenue was down 7.2% compared to the same quarter last year.

A number of research analysts have commented on the company. Credit Suisse Group increased their target price on TrueBlue from $19.00 to $23.00 and gave the stock a “neutral” rating in a report on Monday, May 3rd. Zacks Investment Research raised TrueBlue from a “hold” rating to a “strong-buy” rating and set a $33.00 price target on the stock in a report on Friday, April 30th. Finally, Robert W. Baird raised TrueBlue from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $21.00 to $29.00 in a report on Monday, May 3rd. Three investment analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $25.00.

In other TrueBlue news, EVP Carl Schweihs sold 5,502 shares of TrueBlue stock in a transaction on Wednesday, February 24th. The stock was sold at an average price of $21.40, for a total transaction of $117,742.80. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO A. Patrick Beharelle sold 16,500 shares of TrueBlue stock in a transaction on Thursday, April 29th. The shares were sold at an average price of $28.30, for a total value of $466,950.00. Following the sale, the chief executive officer now directly owns 201,706 shares in the company, valued at approximately $5,708,279.80. The disclosure for this sale can be found here. In the last three months, insiders sold 88,558 shares of company stock worth $2,363,547. Company insiders own 2.00% of the company’s stock.

Institutional investors have recently made changes to their positions in the business. Veriti Management LLC bought a new stake in TrueBlue during the 4th quarter valued at $60,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of TrueBlue by 36.6% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,021 shares of the business services provider’s stock valued at $150,000 after purchasing an additional 2,151 shares during the period. Robeco Institutional Asset Management B.V. increased its position in shares of TrueBlue by 250.2% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 8,986 shares of the business services provider’s stock valued at $168,000 after purchasing an additional 6,420 shares during the period. Crossmark Global Holdings Inc. acquired a new position in shares of TrueBlue during the 1st quarter valued at $203,000. Finally, First Hawaiian Bank acquired a new position in shares of TrueBlue during the 4th quarter valued at $238,000. 90.69% of the stock is currently owned by hedge funds and other institutional investors.

NYSE:TBI traded down $0.03 during trading hours on Monday, reaching $27.29. 98,656 shares of the stock were exchanged, compared to its average volume of 211,336. The firm has a 50 day simple moving average of $24.42 and a 200-day simple moving average of $20.69. TrueBlue has a 52 week low of $12.30 and a 52 week high of $29.90. The stock has a market capitalization of $968.00 million, a P/E ratio of -7.20 and a beta of 1.70.

TrueBlue Company Profile

TrueBlue, Inc, together with its subsidiaries, provides specialized workforce solutions in the United States, Canada, and Puerto Rico. It operates through three segments: PeopleReady, PeopleManagement, and PeopleScout. The PeopleReady segment offers a range of contingent staffing solutions for blue-collar, on-demand, and skilled labor in construction, manufacturing and logistics, warehousing and distribution, waste and recycling, energy, retail, hospitality, general labor, and other industries.

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