TrueBlue Inc. (TBI) Updates Q4 Earnings Guidance
TrueBlue Inc. (NYSE:TBI) issued an update on its fourth quarter earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $0.54-0.59 for the period, compared to the Thomson Reuters consensus estimate of $0.66. The company issued revenue guidance of $670-686 million, compared to the consensus revenue estimate of $776.45 million.
TrueBlue Inc. (NYSE:TBI) traded down 5.44% during mid-day trading on Wednesday, hitting $20.00. The company had a trading volume of 712,967 shares. The company has a 50-day moving average price of $22.16 and a 200 day moving average price of $21.39. The firm’s market capitalization is $823.30 million. TrueBlue Inc. has a 12 month low of $17.35 and a 12 month high of $30.25.
TrueBlue (NYSE:TBI) last posted its quarterly earnings data on Wednesday, October 19th. The company reported $0.70 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.75 by $0.05. The business earned $697.10 million during the quarter, compared to analyst estimates of $715.69 million. TrueBlue had a positive return on equity of 15.08% and a negative net margin of 0.30%. The firm’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.54 EPS. Equities analysts forecast that TrueBlue Inc. will post $2.18 EPS for the current fiscal year.
TBI has been the subject of a number of research reports. Zacks Investment Research raised TrueBlue from a strong sell rating to a hold rating in a research report on Wednesday, June 22nd. Deutsche Bank AG initiated coverage on TrueBlue in a research report on Wednesday, August 17th. They set a sell rating and a $20.00 price target for the company. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. TrueBlue presently has an average rating of Hold and an average target price of $23.43.
In other news, EVP James E. Defebaugh sold 5,000 shares of the business’s stock in a transaction dated Monday, July 25th. The stock was sold at an average price of $23.07, for a total value of $115,350.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.00% of the stock is owned by insiders.
Several institutional investors have recently modified their holdings of TBI. Pacad Investment Ltd. bought a new position in shares of TrueBlue during the second quarter valued at about $192,000. BlackRock Inc. boosted its position in shares of TrueBlue by 232.8% in the second quarter. BlackRock Inc. now owns 11,280 shares of the company’s stock valued at $214,000 after buying an additional 7,891 shares during the period. AHL Partners LLP bought a new position in shares of TrueBlue during the second quarter valued at about $322,000. Barclays PLC boosted its position in shares of TrueBlue by 23,964.9% in the second quarter. Barclays PLC now owns 18,530 shares of the company’s stock valued at $351,000 after buying an additional 18,453 shares during the period. Finally, A.R.T. Advisors LLC bought a new position in shares of TrueBlue during the second quarter valued at about $358,000. 93.00% of the stock is owned by institutional investors and hedge funds.
TrueBlue Company Profile
TrueBlue, Inc (TrueBlue) is a provider of specialized workforce solutions. The Company is engaged in providing staffing, recruitment process outsourcing, and managed service provider solutions. The Company operates through two segments: Staffing Services and Managed Services. The Company offers on-premise temporary blue-collar staffing, and outsourced service offerings in recruitment process outsourcing (RPO) and management of contingent labor services providers (MSP) solutions.
Receive News & Ratings for TrueBlue Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TrueBlue Inc. and related companies with MarketBeat.com's FREE daily email newsletter.