TriNet Group, Inc. (TNET) Announces Quarterly Earnings Results, Beats Expectations By $0.30 EPS
TriNet Group, Inc. (NYSE:TNET) posted its quarterly earnings results on Thursday. The business services provider reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.30, Bloomberg Earnings reports. TriNet Group had a net margin of 3.33% and a return on equity of 201.15%. The business had revenue of $205.90 million during the quarter, compared to analysts’ expectations of $174.89 million. During the same quarter in the prior year, the company posted $0.29 EPS. The business’s revenue for the quarter was up 27.9% on a year-over-year basis.
Shares of TriNet Group (NYSE TNET) traded up $6.97 during mid-day trading on Friday, hitting $41.00. 2,020,656 shares of the stock traded hands, compared to its average volume of 288,616. The company has a debt-to-equity ratio of 4.42, a quick ratio of 1.17 and a current ratio of 1.17. TriNet Group has a 52-week low of $19.66 and a 52-week high of $43.38. The firm has a market cap of $2.85 billion, a price-to-earnings ratio of 25.66 and a beta of 2.88.
In other news, CEO Burton M. Goldfield sold 24,676 shares of the company’s stock in a transaction that occurred on Thursday, August 17th. The shares were sold at an average price of $35.29, for a total value of $870,816.04. Following the transaction, the chief executive officer now directly owns 30,707 shares in the company, valued at approximately $1,083,650.03. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Martin Babinec sold 111,855 shares of the company’s stock in a transaction that occurred on Friday, August 11th. The stock was sold at an average price of $37.75, for a total transaction of $4,222,526.25. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 332,983 shares of company stock worth $12,205,957. Company insiders own 42.40% of the company’s stock.
TNET has been the subject of several analyst reports. BidaskClub cut shares of TriNet Group from a “buy” rating to a “hold” rating in a research note on Thursday, September 14th. Morgan Stanley cut shares of TriNet Group from an “equal weight” rating to an “underweight” rating and increased their price target for the company from $27.00 to $31.00 in a research note on Tuesday, August 22nd. Zacks Investment Research cut shares of TriNet Group from a “strong-buy” rating to a “hold” rating in a research note on Thursday, September 21st. Stifel Nicolaus reissued a “buy” rating and issued a $44.00 price target (up previously from $37.00) on shares of TriNet Group in a research note on Tuesday, August 1st. Finally, J P Morgan Chase & Co cut shares of TriNet Group from a “neutral” rating to an “underweight” rating and increased their price target for the company from $33.00 to $36.00 in a research note on Thursday, August 17th. Three investment analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $37.60.
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About TriNet Group
TriNet Group, Inc is a provider of human resources (HR) solutions for small to medium-sized businesses (SMBs). The Company’s HR solutions include services, such as 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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