Sidoti Csr Equities Analysts Increase Earnings Estimates for TrueBlue, Inc. (NYSE:TBI)

TrueBlue, Inc. (NYSE:TBI - Free Report) - Sidoti Csr lifted their Q2 2024 EPS estimates for TrueBlue in a note issued to investors on Tuesday, May 7th. Sidoti Csr analyst M. Riddick now anticipates that the business services provider will post earnings per share of ($0.03) for the quarter, up from their prior forecast of ($0.14). The consensus estimate for TrueBlue's current full-year earnings is ($0.51) per share. Sidoti Csr also issued estimates for TrueBlue's FY2024 earnings at $0.06 EPS.

TrueBlue (NYSE:TBI - Get Free Report) last released its quarterly earnings results on Monday, May 6th. The business services provider reported $0.03 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.43) by $0.46. The firm had revenue of $403.00 million for the quarter, compared to the consensus estimate of $400.24 million. TrueBlue had a negative net margin of 0.63% and a positive return on equity of 3.01%. The firm's quarterly revenue was down 13.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.06) EPS.

Other analysts also recently issued research reports about the stock. BMO Capital Markets decreased their price target on shares of TrueBlue from $15.00 to $13.00 and set an "outperform" rating for the company in a research report on Wednesday. Robert W. Baird decreased their price objective on shares of TrueBlue from $14.00 to $13.00 and set an "outperform" rating for the company in a report on Tuesday.

TrueBlue Trading Down 3.2 %

TBI traded down $0.36 on Friday, reaching $10.82. The company's stock had a trading volume of 291,122 shares, compared to its average volume of 295,386. TrueBlue has a 1 year low of $10.15 and a 1 year high of $19.06. The business's 50 day moving average is $11.34 and its 200 day moving average is $12.83.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Lord Abbett & CO. LLC boosted its holdings in shares of TrueBlue by 0.4% in the 1st quarter. Lord Abbett & CO. LLC now owns 358,787 shares of the business services provider's stock valued at $4,492,000 after buying an additional 1,303 shares during the period. State Board of Administration of Florida Retirement System acquired a new position in shares of TrueBlue in the 1st quarter valued at about $192,000. Empowered Funds LLC boosted its holdings in shares of TrueBlue by 8.2% in the 1st quarter. Empowered Funds LLC now owns 113,348 shares of the business services provider's stock valued at $1,419,000 after buying an additional 8,565 shares during the period. Quantbot Technologies LP boosted its holdings in shares of TrueBlue by 181.3% in the 1st quarter. Quantbot Technologies LP now owns 41,987 shares of the business services provider's stock valued at $526,000 after buying an additional 27,060 shares during the period. Finally, BNP Paribas Financial Markets boosted its holdings in shares of TrueBlue by 41.8% in the 1st quarter. BNP Paribas Financial Markets now owns 82,337 shares of the business services provider's stock valued at $1,031,000 after buying an additional 24,286 shares during the period. 97.15% of the stock is owned by institutional investors and hedge funds.

About TrueBlue

TrueBlue, Inc, together with its subsidiaries, provides specialized workforce solutions in the United States, Canada, the United Kingdom, Australia, and Puerto Rico. It operates through three segments: PeopleReady, PeopleManagement, and PeopleScout. The company PeopleReady segment provides general, industrial, and skilled trade contingent staffing services for construction, transportation, manufacturing, retail, hospitality, and renewable energy industries.