TriNet Group (NYSE:TNET) Updates Q3 Earnings Guidance

TriNet Group (NYSE:TNET) updated its third quarter earnings guidance on Friday. The company provided earnings per share guidance of $1.00-1.50 for the period, compared to the consensus earnings per share estimate of $1.37. TriNet Group also updated its FY24 guidance to $5.25-6.80 EPS.

TriNet Group Stock Up 0.7 %

NYSE TNET opened at $108.78 on Friday. The company has a debt-to-equity ratio of 6.88, a quick ratio of 1.06 and a current ratio of 1.06. The firm has a 50-day simple moving average of $103.91 and a 200 day simple moving average of $114.62. TriNet Group has a twelve month low of $95.24 and a twelve month high of $134.67. The stock has a market cap of $5.50 billion, a PE ratio of 17.83 and a beta of 1.19.

TriNet Group (NYSE:TNET) last released its earnings results on Friday, April 26th. The business services provider reported $1.86 earnings per share for the quarter, missing the consensus estimate of $2.22 by ($0.36). TriNet Group had a net margin of 6.78% and a return on equity of 124.38%. The company had revenue of $357.00 million during the quarter, compared to the consensus estimate of $380.41 million. On average, research analysts forecast that TriNet Group will post 4.82 EPS for the current year.

TriNet Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 22nd. Stockholders of record on Monday, July 1st were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.92%. The ex-dividend date was Monday, July 1st. TriNet Group’s payout ratio is 16.39%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on TNET. StockNews.com cut shares of TriNet Group from a buy rating to a hold rating in a research note on Monday, April 29th. TD Cowen reduced their price target on shares of TriNet Group from $132.00 to $118.00 and set a buy rating on the stock in a research report on Monday, June 24th. Finally, Needham & Company LLC cut their price objective on shares of TriNet Group from $150.00 to $140.00 and set a buy rating on the stock in a research report on Friday, April 26th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of Hold and a consensus target price of $113.83.

Insider Buying and Selling at TriNet Group

In other news, Director Paul Edward Chamberlain sold 375 shares of the firm’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $101.02, for a total transaction of $37,882.50. Following the completion of the transaction, the director now owns 36,341 shares of the company’s stock, valued at $3,671,167.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Paul Edward Chamberlain sold 375 shares of the firm’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $101.02, for a total transaction of $37,882.50. Following the completion of the transaction, the director now owns 36,341 shares of the company’s stock, valued at $3,671,167.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Alexander G. Warren sold 1,867 shares of the firm’s stock in a transaction on Monday, May 20th. The shares were sold at an average price of $103.74, for a total transaction of $193,682.58. Following the transaction, the senior vice president now directly owns 32,661 shares of the company’s stock, valued at approximately $3,388,252.14. The disclosure for this sale can be found here. Corporate insiders own 37.10% of the company’s stock.

About TriNet Group

TriNet Group, Inc provides comprehensive and flexible human capital management services for small and medium size businesses in the United States. The company offers multi-state payroll processing and tax administration; employee benefits programs, including health insurance and retirement plans; workers compensation insurance and claims management; employment and benefits law compliance; and other HR related services.