TriNet Group, Inc. (TNET) Expected to Announce Earnings of $0.47 Per Share
Wall Street analysts predict that TriNet Group, Inc. (NYSE:TNET) will report earnings of $0.47 per share for the current fiscal quarter, according to Zacks Investment Research. Four analysts have provided estimates for TriNet Group’s earnings, with estimates ranging from $0.37 to $0.56. TriNet Group reported earnings per share of $0.38 in the same quarter last year, which suggests a positive year over year growth rate of 23.7%. The company is scheduled to announce its next quarterly earnings report on Tuesday, February 27th.
According to Zacks, analysts expect that TriNet Group will report full year earnings of $1.99 per share for the current financial year, with EPS estimates ranging from $1.89 to $2.09. For the next fiscal year, analysts forecast that the business will report earnings of $2.01 per share, with EPS estimates ranging from $1.79 to $2.30. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research analysts that follow TriNet Group.
TriNet Group (NYSE:TNET) last announced its earnings results on Thursday, November 2nd. The business services provider reported $0.56 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.26 by $0.30. TriNet Group had a return on equity of 156.96% and a net margin of 4.15%. The business had revenue of $205.90 million for the quarter, compared to analyst estimates of $174.89 million. During the same period in the previous year, the company earned $0.29 earnings per share. The company’s revenue for the quarter was up 27.9% compared to the same quarter last year.
Several analysts recently weighed in on TNET shares. BidaskClub lowered TriNet Group from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 25th. Stifel Nicolaus reissued a “buy” rating and issued a $44.00 price objective (up from $37.00) on shares of TriNet Group in a report on Tuesday, August 1st. Zacks Investment Research raised TriNet Group from a “hold” rating to a “strong-buy” rating and set a $45.00 price objective for the company in a report on Saturday, August 5th. J P Morgan Chase & Co lowered TriNet Group from a “neutral” rating to an “underweight” rating and boosted their price objective for the company from $33.00 to $36.00 in a report on Thursday, August 17th. Finally, Morgan Stanley lowered TriNet Group from an “equal weight” rating to an “underweight” rating and boosted their price objective for the company from $27.00 to $31.00 in a report on Tuesday, August 22nd. Two analysts have rated the stock with a sell rating, one has given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $38.00.
In other news, Director Martin Babinec sold 36,500 shares of the business’s stock in a transaction that occurred on Tuesday, November 7th. The stock was sold at an average price of $41.17, for a total transaction of $1,502,705.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Burton M. Goldfield sold 2,694 shares of the business’s stock in a transaction that occurred on Monday, September 18th. The stock was sold at an average price of $33.94, for a total value of $91,434.36. Following the transaction, the chief executive officer now owns 31,225 shares of the company’s stock, valued at $1,059,776.50. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 171,260 shares of company stock valued at $6,218,436. 41.80% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently modified their holdings of the company. Teachers Advisors LLC lifted its position in TriNet Group by 11.9% in the first quarter. Teachers Advisors LLC now owns 196,433 shares of the business services provider’s stock worth $5,677,000 after purchasing an additional 20,888 shares during the period. California Public Employees Retirement System lifted its position in TriNet Group by 31.2% in the first quarter. California Public Employees Retirement System now owns 30,700 shares of the business services provider’s stock worth $887,000 after purchasing an additional 7,300 shares during the period. Vanguard Group Inc. lifted its position in TriNet Group by 11.0% in the first quarter. Vanguard Group Inc. now owns 4,228,957 shares of the business services provider’s stock worth $122,217,000 after purchasing an additional 418,005 shares during the period. Geode Capital Management LLC lifted its position in TriNet Group by 3.3% in the first quarter. Geode Capital Management LLC now owns 302,294 shares of the business services provider’s stock worth $8,736,000 after purchasing an additional 9,752 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in TriNet Group by 4.9% in the first quarter. Dimensional Fund Advisors LP now owns 950,762 shares of the business services provider’s stock worth $27,476,000 after purchasing an additional 44,115 shares during the period. Institutional investors and hedge funds own 55.12% of the company’s stock.
Shares of TriNet Group (NYSE TNET) opened at $42.45 on Tuesday. TriNet Group has a 52-week low of $22.41 and a 52-week high of $43.53. The stock has a market capitalization of $2,966.33, a PE ratio of 25.87 and a beta of 2.88. The company has a debt-to-equity ratio of 3.00, a quick ratio of 1.18 and a current ratio of 1.18.
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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