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 guidance of 5.250-6.800 for the period, compared to the consensus earnings per share estimate of 6.650. The company issued revenue guidance of $4.9 billion-$5.1 billion, compared to the consensus revenue estimate of $5.0 billion. TriNet Group also updated its FY24 guidance to $5.25-6.80 EPS.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on TNET. Needham & Company LLC decreased their price target on TriNet Group from $150.00 to $140.00 and set a buy rating for the company in a research note on Friday. Stifel Nicolaus lifted their price objective on TriNet Group from $117.00 to $121.00 and gave the stock a buy rating in a report on Friday, February 16th. TD Cowen lifted their price objective on TriNet Group from $129.00 to $140.00 and gave the stock an outperform rating in a report on Monday, March 4th. Finally, StockNews.com raised TriNet Group from a hold rating to a buy rating in a report on Monday, February 5th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus target price of $117.50.

TriNet Group Stock Performance

NYSE:TNET opened at $105.72 on Friday. The stock has a 50-day simple moving average of $127.99 and a two-hundred day simple moving average of $119.38. TriNet Group has a 52-week low of $79.00 and a 52-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 firm has a market capitalization of $5.35 billion, a PE ratio of 17.33 and a beta of 1.09.

TriNet Group (NYSE:TNET) last released its quarterly earnings results on Thursday, February 15th. The business services provider reported $1.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.46. TriNet Group had a return on equity of 87.97% and a net margin of 7.62%. The business had revenue of $326.00 million during the quarter, compared to analyst estimates of $300.36 million. Analysts forecast that TriNet Group will post 5.79 EPS for the current year.

TriNet Group Announces Dividend

The business 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 0.95%. The ex-dividend date of this dividend was Thursday, March 28th. TriNet Group’s dividend payout ratio is presently 16.39%.

Insider Buying and Selling at TriNet Group

In other news, Director Wayne B. Lowell sold 10,000 shares of the company’s stock in a transaction dated 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 completion of the transaction, the director now owns 84,766 shares of the company’s stock, valued at $10,360,100.52. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, Director Wayne B. Lowell sold 10,000 shares of the company’s stock in a transaction dated 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 completion of the transaction, the director now owns 84,766 shares of the company’s stock, valued at $10,360,100.52. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Alexander G. Warren sold 2,385 shares of the company’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 completion of the transaction, the senior vice president now directly 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. Over the last quarter, insiders sold 31,052 shares of company stock valued at $3,837,142. Company 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.