TriNet Group (NYSE:TNET) Releases FY 2024 Earnings Guidance

TriNet Group (NYSE:TNET) updated its FY 2024 earnings guidance on Friday. The company provided earnings per share (EPS) guidance of 4.950-5.450 for the period, compared to the consensus estimate of 6.050. The company issued revenue guidance of $5.0 billion-$5.0 billion, compared to the consensus revenue estimate of $5.0 billion. TriNet Group also updated its Q4 2024 guidance to 0.060-0.570 EPS.

TriNet Group Price Performance

TNET traded down $11.32 during midday trading on Friday, hitting $80.31. The stock had a trading volume of 2,086,121 shares, compared to its average volume of 283,668. TriNet Group has a 1 year low of $74.32 and a 1 year high of $134.67. The company has a debt-to-equity ratio of 9.84, a quick ratio of 1.04 and a current ratio of 1.04. The business has a fifty day moving average of $96.79 and a 200 day moving average of $102.72. The company has a market cap of $3.99 billion, a P/E ratio of 13.57 and a beta of 1.17.

TriNet Group (NYSE:TNET) last announced its quarterly earnings data on Friday, October 25th. The business services provider reported $0.95 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.09 by ($0.14). TriNet Group had a net margin of 6.29% and a return on equity of 397.90%. The business had revenue of $288.00 million during the quarter, compared to analysts’ expectations of $297.94 million. As a group, equities analysts forecast that TriNet Group will post 5.13 earnings per share for the current fiscal year.

TriNet Group Dividend Announcement

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

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Needham & Company LLC restated a “buy” rating and set a $140.00 price target on shares of TriNet Group in a research report on Wednesday, September 11th. JPMorgan Chase & Co. reaffirmed an “underweight” rating and issued a $103.00 target price on shares of TriNet Group in a research note on Tuesday, October 22nd. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $118.40.

Insider Activity

In related news, Director Paul Edward Chamberlain sold 375 shares of the firm’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $106.50, for a total value of $39,937.50. Following the completion of the sale, the director now owns 37,966 shares of the company’s stock, valued at $4,043,379. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other TriNet Group news, Director Paul Edward Chamberlain sold 375 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $106.50, for a total value of $39,937.50. Following the completion of the sale, the director now directly owns 37,966 shares in the company, valued at $4,043,379. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Kelly L. Tuminelli sold 4,683 shares of the company’s 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 transaction, the chief financial officer now owns 82,409 shares in the company, valued at $8,484,830.64. This trade represents 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.