TrueBlue (NYSE:TBI) Announces Earnings Results

TrueBlue (NYSE:TBI) issued its quarterly earnings results on Wednesday. The business services provider reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.14, FiscalAI reports. The company had revenue of $520.74 million for the quarter, compared to the consensus estimate of $468.06 million. TrueBlue had a negative return on equity of 6.26% and a negative net margin of 3.35%.

TrueBlue Stock Performance

Shares of NYSE:TBI traded up $0.20 on Wednesday, hitting $9.79. 206,670 shares of the company were exchanged, compared to its average volume of 304,902. The company’s 50 day moving average price is $9.37 and its two-hundred day moving average price is $6.82. TrueBlue has a one year low of $3.18 and a one year high of $11.03. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.28 and a current ratio of 2.28. The firm has a market capitalization of $298.01 million, a price-to-earnings ratio of -5.21, a PEG ratio of 11.75 and a beta of 1.74.

Analyst Upgrades and Downgrades

TBI has been the subject of several research analyst reports. Robert W. Baird set a $9.50 price objective on TrueBlue in a research report on Wednesday, August 5th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of TrueBlue in a report on Tuesday, September 29th. Finally, Wall Street Zen raised TrueBlue from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, TrueBlue has an average rating of “Hold” and an average price target of $7.75.

About TrueBlue

TrueBlue, Inc (NYSE:TBI) is a workforce solutions company that connects businesses with employees and provides staffing, recruiting and workforce management services. Its offerings support employers seeking temporary, contingent and permanent workers across a range of industries, including manufacturing, logistics, retail, hospitality, construction and other commercial sectors.

The company operates through several specialized brands. PeopleReady provides industrial and general labor staffing, while PeopleManagement offers on-site workforce management and contingent labor solutions.