TriNet Group (NYSE:TNET) Issues Q4 2024 Earnings Guidance

TriNet Group (NYSE:TNET) issued an update on its fourth quarter 2024 earnings guidance on Friday morning. The company provided EPS guidance of 0.060-0.570 for the period, compared to the consensus EPS estimate of 1.160. The company issued revenue guidance of $1.2 billion-$1.3 billion, compared to the consensus revenue estimate of $1.3 billion. TriNet Group also updated its FY 2024 guidance to 4.950-5.450 EPS.

TriNet Group Price Performance

TNET traded down $11.34 during midday trading on Friday, hitting $80.29. 2,085,750 shares of the company traded hands, compared to its average volume of 283,668. The company has a market capitalization of $3.99 billion, a price-to-earnings ratio of 13.56 and a beta of 1.17. The business has a 50 day simple moving average of $96.79 and a two-hundred day simple moving average of $102.91. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 9.84. TriNet Group has a 52-week low of $74.32 and a 52-week high of $134.67.

TriNet Group (NYSE:TNET) last posted its quarterly earnings data on Friday, July 26th. The business services provider reported $1.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.29. TriNet Group had a return on equity of 397.90% and a net margin of 6.29%. The company had revenue of $310.00 million for the quarter, compared to analysts’ expectations of $301.76 million. On average, equities analysts forecast that TriNet Group will post 5.13 earnings per share for the current fiscal year.

TriNet Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, October 28th. Stockholders of record on Tuesday, October 1st will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.25%. The ex-dividend date is Tuesday, October 1st. TriNet Group’s dividend payout ratio is presently 16.89%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on TNET. JPMorgan Chase & Co. restated an “underweight” rating and issued a $103.00 price objective on shares of TriNet Group in a report on Tuesday. Needham & Company LLC reissued a “buy” rating and issued a $140.00 price target on shares of TriNet Group in a research note on Wednesday, September 11th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $118.40.

Insider Transactions at TriNet Group

In related news, CFO Kelly L. Tuminelli sold 4,683 shares of the stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $102.96, for a total value of $482,161.68. Following the completion of the transaction, the chief financial officer now directly owns 82,409 shares in the company, valued at approximately $8,484,830.64. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Director Paul Edward Chamberlain sold 375 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $106.50, for a total value of $39,937.50. Following the sale, the director now directly owns 37,966 shares of the company’s stock, valued at approximately $4,043,379. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Kelly L. Tuminelli sold 4,683 shares of the stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $102.96, for a total transaction of $482,161.68. Following the transaction, the chief financial officer now directly owns 82,409 shares of the company’s stock, valued at $8,484,830.64. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 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.