TriNet Group (NYSE:TNET) Issues FY24 Earnings Guidance

TriNet Group (NYSE:TNET) issued an update on its FY24 earnings guidance on Friday morning. The company provided EPS guidance of $5.25-6.80 for the period, compared to the consensus EPS estimate of $6.78. TriNet Group also updated its Q2 guidance to $1.00-1.50 EPS.

TriNet Group Trading Down 0.6 %

Shares of TNET stock opened at $126.78 on Friday. 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 has a market capitalization of $6.41 billion, a P/E ratio of 19.53 and a beta of 1.09. The company has a 50 day moving average price of $128.43 and a 200 day moving average price of $119.48. TriNet Group has a fifty-two week low of $79.00 and a fifty-two week high of $134.67.

TriNet Group (NYSE:TNET) last announced its quarterly earnings data on Thursday, February 15th. The business services provider reported $1.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.95 by $0.46. The firm had revenue of $326.00 million during the quarter, compared to analysts’ expectations of $300.36 million. TriNet Group had a net margin of 7.62% and a return on equity of 87.97%. Equities research analysts predict that TriNet Group will post 5.79 EPS for the current fiscal year.

TriNet Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 22nd. Shareholders of record on Monday, April 1st were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.79%. The ex-dividend date of this dividend was Thursday, March 28th. TriNet Group’s dividend payout ratio (DPR) is presently 15.41%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Stifel Nicolaus boosted their price target on shares of TriNet Group from $117.00 to $121.00 and gave the stock a buy rating in a report on Friday, February 16th. TD Cowen boosted their price target on shares of TriNet Group from $129.00 to $140.00 and gave the stock an outperform rating in a report on Monday, March 4th. Needham & Company LLC reiterated a buy rating and set a $150.00 price target on shares of TriNet Group in a report on Friday, March 1st. Finally, StockNews.com upgraded shares of TriNet Group from a hold rating to a buy rating in a report on Monday, February 5th. One research analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, TriNet Group has an average rating of Moderate Buy and a consensus price target of $119.17.

Insider Activity at TriNet Group

In related news, Director Wayne B. Lowell sold 10,000 shares of the company’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $122.22, for a total value of $1,222,200.00. Following the completion of the sale, the director now owns 84,766 shares in the company, valued at approximately $10,360,100.52. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CFO Kelly L. Tuminelli sold 4,396 shares of the stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $122.67, for a total transaction of $539,257.32. Following the completion of the transaction, the chief financial officer now directly owns 65,999 shares of the company’s stock, valued at approximately $8,096,097.33. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Wayne B. Lowell sold 10,000 shares of the company’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $122.22, for a total value of $1,222,200.00. Following the transaction, the director now directly owns 84,766 shares in the company, valued at approximately $10,360,100.52. The disclosure for this sale can be found here. Insiders sold a total of 31,052 shares of company stock worth $3,837,142 in the last 90 days. 37.10% of the stock is owned by insiders.

TriNet Group Company Profile

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.