TriNet Group (NYSE:TNET - Get Free Report) updated its second quarter 2024 earnings guidance on Friday. The company provided EPS guidance of 1.000-1.500 for the period, compared to the consensus EPS estimate of 1.570. The company issued revenue guidance of $1.2 billion-$1.2 billion, compared to the consensus revenue estimate of $1.2 billion. TriNet Group also updated its FY 2024 guidance to 5.250-6.800 EPS.
TriNet Group Price Performance
TriNet Group stock traded down $21.30 during midday trading on Friday, reaching $105.48. The company's stock had a trading volume of 774,169 shares, compared to its average volume of 229,489. TriNet Group has a fifty-two week low of $79.00 and a fifty-two week high of $134.67. The company has a debt-to-equity ratio of 12.62, a quick ratio of 1.05 and a current ratio of 1.05. The stock's 50 day simple moving average is $128.43 and its 200 day simple moving average is $119.48. The firm has a market capitalization of $5.33 billion, a PE ratio of 16.46 and a beta of 1.09.
TriNet Group (NYSE:TNET - Get Free Report) last released its earnings results on Thursday, February 15th. The business services provider reported $1.41 EPS for the quarter, beating analysts' consensus estimates of $0.95 by $0.46. TriNet Group had a return on equity of 87.97% and a net margin of 7.62%. The company had revenue of $326.00 million during the quarter, compared to the consensus estimate of $300.36 million. On average, equities research analysts forecast that TriNet Group will post 5.79 earnings per share for the current year.
TriNet Group Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Monday, April 22nd. Stockholders of record on Monday, April 1st were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.95%. The ex-dividend date of this dividend was Thursday, March 28th. TriNet Group's dividend payout ratio (DPR) is presently 15.41%.
Wall Street Analyst Weigh In
Several brokerages recently weighed in on TNET. StockNews.com raised shares of TriNet Group from a hold rating to a buy rating in a research note on Monday, February 5th. TD Cowen boosted their target price on shares of TriNet Group from $129.00 to $140.00 and gave the company an outperform rating in a research note on Monday, March 4th. Stifel Nicolaus boosted their target price on shares of TriNet Group from $117.00 to $121.00 and gave the company a buy rating in a research note on Friday, February 16th. Finally, Needham & Company LLC cut their target price on shares of TriNet Group from $150.00 to $140.00 and set a buy rating for the company in a research note on Friday. One analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of Moderate Buy and an average price target of $117.50.
Get Our Latest Report on TNET
Insider Activity
In other news, SVP Alexander G. Warren sold 2,385 shares of the company's stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $123.07, for a total transaction of $293,521.95. Following the completion of the transaction, the senior vice president now owns 18,365 shares of the company's stock, valued at approximately $2,260,180.55. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, EVP Samantha Wellington sold 14,271 shares of the business's stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $124.88, for a total transaction of $1,782,162.48. Following the completion of the sale, the executive vice president now owns 48,562 shares in the company, valued at approximately $6,064,422.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Alexander G. Warren sold 2,385 shares of the business's stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $123.07, for a total value of $293,521.95. Following the sale, the senior vice president now owns 18,365 shares of the company's stock, valued at approximately $2,260,180.55. The disclosure for this sale can be found here. Insiders sold a total of 31,052 shares of company stock valued at $3,837,142 in the last 90 days. 37.10% of the stock is currently owned by insiders.
About TriNet Group
(
Get Free Report)
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.
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