TriNet Group, Inc. (TNET) Expected to Announce Earnings of $0.25 Per Share
Analysts expect TriNet Group, Inc. (NYSE:TNET) to announce earnings per share (EPS) of $0.25 for the current fiscal quarter, Zacks reports. Four analysts have issued estimates for TriNet Group’s earnings, with estimates ranging from $0.25 to $0.26. TriNet Group posted earnings of $0.29 per share in the same quarter last year, which would suggest a negative year over year growth rate of 13.8%. The business is scheduled to issue its next quarterly earnings report on Tuesday, November 7th.
According to Zacks, analysts expect that TriNet Group will report full year earnings of $1.49 per share for the current fiscal year, with EPS estimates ranging from $1.45 to $1.51. For the next financial year, analysts forecast that the business will post earnings of $1.61 per share, with EPS estimates ranging from $1.52 to $1.70. Zacks’ EPS averages are a mean average based on a survey of research analysts that cover TriNet Group.
TriNet Group (NYSE:TNET) last released its quarterly earnings results on Monday, July 31st. The business services provider reported $0.45 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.27 by $0.18. The business had revenue of $201.01 million during the quarter, compared to analyst estimates of $168.27 million. TriNet Group had a return on equity of 201.15% and a net margin of 3.33%. TriNet Group’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same quarter last year, the company posted $0.27 EPS.
A number of equities research analysts recently commented on the company. BidaskClub raised TriNet Group from a “hold” rating to a “buy” rating in a research note on Thursday. Zacks Investment Research cut TriNet Group from a “hold” rating to a “sell” rating in a research note on Wednesday. J P Morgan Chase & Co cut TriNet Group from a “neutral” rating to an “underweight” rating and lifted their price objective for the stock from $33.00 to $36.00 in a research note on Thursday, August 17th. Morgan Stanley cut TriNet Group from an “equal weight” rating to an “underweight” rating and boosted their target price for the company from $27.00 to $31.00 in a research note on Tuesday, August 22nd. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $44.00 target price (up from $37.00) on shares of TriNet Group in a research note on Tuesday, August 1st. Three equities research analysts have rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $37.40.
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Shares of TriNet Group (TNET) traded down 0.26% during midday trading on Thursday, reaching $34.93. The company had a trading volume of 213,330 shares. The company’s 50-day moving average is $34.89 and its 200-day moving average is $32.54. The firm has a market cap of $2.42 billion, a P/E ratio of 23.47 and a beta of 2.89. TriNet Group has a 52-week low of $17.78 and a 52-week high of $41.58.
In other news, CEO Burton M. Goldfield sold 2,694 shares of the business’s stock in a transaction dated Monday, September 18th. The stock was sold at an average price of $33.94, for a total value of $91,434.36. Following the sale, the chief executive officer now directly owns 31,225 shares in the company, valued at $1,059,776.50. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director H Raymond Bingham sold 5,000 shares of the business’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $39.53, for a total value of $197,650.00. Following the completion of the sale, the director now owns 5,000 shares in the company, valued at $197,650. The disclosure for this sale can be found here. Over the last three months, insiders sold 388,487 shares of company stock valued at $14,115,445. Insiders own 42.40% of the company’s stock.
Institutional investors have recently modified their holdings of the company. Ameritas Investment Partners Inc. bought a new stake in shares of TriNet Group in the first quarter valued at about $105,000. Envestnet Asset Management Inc. lifted its holdings in shares of TriNet Group by 13.3% in the first quarter. Envestnet Asset Management Inc. now owns 4,101 shares of the business services provider’s stock valued at $119,000 after purchasing an additional 483 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in shares of TriNet Group by 18.6% in the first quarter. Victory Capital Management Inc. now owns 4,604 shares of the business services provider’s stock valued at $133,000 after purchasing an additional 723 shares in the last quarter. Meeder Asset Management Inc. bought a new stake in shares of TriNet Group in the first quarter valued at about $153,000. Finally, BNP Paribas Arbitrage SA lifted its holdings in shares of TriNet Group by 596.6% in the second quarter. BNP Paribas Arbitrage SA now owns 5,705 shares of the business services provider’s stock valued at $187,000 after purchasing an additional 4,886 shares in the last quarter. Institutional investors own 54.58% of the company’s stock.
TriNet Group Company Profile
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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