TrueBlue (NYSE:TBI) Posts Earnings Results, Beats Expectations By $0.16 EPS

TrueBlue (NYSE:TBI) posted its quarterly earnings data on Tuesday. The business services provider reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.10) by $0.16, FiscalAI reports. TrueBlue had a negative return on equity of 7.37% and a negative net margin of 3.25%.The company had revenue of $443.00 million during the quarter, compared to analyst estimates of $417.84 million.

TrueBlue Price Performance

NYSE:TBI traded up $0.23 during midday trading on Tuesday, hitting $7.76. The company had a trading volume of 229,944 shares, compared to its average volume of 318,395. TrueBlue has a 52-week low of $3.18 and a 52-week high of $8.90. The stock’s fifty day moving average price is $7.21 and its 200-day moving average price is $5.50. The company has a market capitalization of $236.09 million, a PE ratio of -4.36 and a beta of 1.60. The company has a quick ratio of 2.09, a current ratio of 2.09 and a debt-to-equity ratio of 0.29.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Weiss Ratings raised TrueBlue from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, July 2nd. Zacks Research raised TrueBlue from a “strong sell” rating to a “hold” rating in a report on Monday, April 20th. Finally, Wall Street Zen upgraded shares of TrueBlue from a “sell” rating to a “hold” rating in a research report on Saturday, June 20th. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $5.75.

Institutional Investors Weigh In On TrueBlue

A number of large investors have recently added to or reduced their stakes in the company. Boston Partners boosted its holdings in shares of TrueBlue by 37.6% in the 4th quarter. Boston Partners now owns 2,220,850 shares of the business services provider’s stock worth $10,106,000 after purchasing an additional 606,446 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of TrueBlue by 32.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,012,217 shares of the business services provider’s stock valued at $9,156,000 after buying an additional 492,984 shares in the last quarter. Geode Capital Management LLC lifted its position in TrueBlue by 0.5% in the 2nd quarter. Geode Capital Management LLC now owns 692,713 shares of the business services provider’s stock worth $4,490,000 after buying an additional 3,269 shares during the last quarter. Russell Investments Group Ltd. lifted its position in TrueBlue by 80.8% in the 4th quarter. Russell Investments Group Ltd. now owns 656,233 shares of the business services provider’s stock worth $2,986,000 after buying an additional 293,363 shares during the last quarter. Finally, Prosight Management LP boosted its stake in TrueBlue by 456.8% in the fourth quarter. Prosight Management LP now owns 442,554 shares of the business services provider’s stock worth $2,014,000 after buying an additional 363,078 shares in the last quarter. Hedge funds and other institutional investors own 97.15% of the company’s stock.

About TrueBlue

TrueBlue, Inc is a Tacoma, Washington–based workforce solutions provider specializing in temporary staffing, permanent placement and managed service solutions. Operating through its subsidiaries and brands, TrueBlue connects clients across manufacturing, logistics, retail, construction and public sector markets with skilled professionals for both short-term and long-term engagements. The company’s offerings encompass on-demand blue-collar labor, specialized industrial staffing, recruitment process outsourcing (RPO) and contingent workforce management.

TrueBlue’s primary service lines include PeopleReady, which supplies general labor for construction, hospitality and event services; PeopleManagement, which focuses on technical and industrial professionals; PeopleScout, a global RPO business offering end-to-end talent acquisition and consulting; and Staff Management | SMX, which delivers seasonal staffing for large-scale events, amusement parks and federal workforce contracts.