TriNet Group (NYSE:TNET) Issues Q2 2024 Earnings Guidance

TriNet Group (NYSE:TNET) issued an update on its second quarter 2024 earnings guidance on Friday morning. The company provided EPS guidance of 1.000-1.500 for the period, compared to the consensus EPS estimate of 1.570. The company issued revenue guidance of $1.2 billion-$1.2 billion, compared to the consensus revenue estimate of $1.2 billion. TriNet Group also updated its FY 2024 guidance to 5.250-6.800 EPS.

TriNet Group Stock Down 16.8 %

Shares of TNET traded down $21.30 during midday trading on Friday, hitting $105.48. The company had a trading volume of 774,169 shares, compared to its average volume of 229,489. The company’s 50-day simple moving average is $128.43 and its 200-day simple moving average is $119.48. The company has a debt-to-equity ratio of 12.62, a quick ratio of 1.05 and a current ratio of 1.05. The firm has a market capitalization of $5.33 billion, a P/E ratio of 16.46 and a beta of 1.09. TriNet Group has a 1 year low of $79.00 and a 1 year high of $134.67.

TriNet Group (NYSE:TNET) last announced its quarterly earnings data on Thursday, February 15th. The business services provider reported $1.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.46. The business had revenue of $326.00 million during the quarter, compared to analysts’ expectations of $300.36 million. TriNet Group had a return on equity of 87.97% and a net margin of 7.62%. As a group, sell-side analysts expect that TriNet Group will post 5.79 EPS for the current year.

TriNet Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 22nd. Investors of record on Monday, April 1st were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.95%. The ex-dividend date of this dividend was Thursday, March 28th. TriNet Group’s dividend payout ratio is currently 15.41%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Stifel Nicolaus increased their price objective on TriNet Group from $117.00 to $121.00 and gave the stock a buy rating in a research report on Friday, February 16th. Needham & Company LLC dropped their price objective on shares of TriNet Group from $150.00 to $140.00 and set a buy rating on the stock in a research note on Friday. StockNews.com upgraded shares of TriNet Group from a hold rating to a buy rating in a research note on Monday, February 5th. Finally, TD Cowen boosted their price target on shares of TriNet Group from $129.00 to $140.00 and gave the stock an outperform rating in a research note on Monday, March 4th. One analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of Moderate Buy and a consensus target price of $117.50.

Insider Transactions at TriNet Group

In other TriNet Group news, EVP Samantha Wellington sold 14,271 shares of the stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $124.88, for a total value of $1,782,162.48. Following the completion of the transaction, the executive vice president now directly owns 48,562 shares of the company’s stock, valued at $6,064,422.56. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, Director Wayne B. Lowell sold 10,000 shares of the business’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $122.22, for a total value of $1,222,200.00. Following the sale, the director now directly owns 84,766 shares in the company, valued at approximately $10,360,100.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Samantha Wellington sold 14,271 shares of the stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $124.88, for a total transaction of $1,782,162.48. Following the completion of the sale, the executive vice president now directly owns 48,562 shares in the company, valued at $6,064,422.56. The disclosure for this sale can be found here. Insiders have sold a total of 31,052 shares of company stock valued at $3,837,142 in the last ninety days. 37.10% of the stock is currently owned by company insiders.

About TriNet Group

TriNet Group, Inc provides comprehensive and flexible human capital management services for small and medium size businesses in the United States. 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 benefits law compliance; and other HR related services.