TriNet Group (NYSE:TNET) Releases Q2 Earnings Guidance

TriNet Group (NYSE:TNET) updated its second quarter earnings guidance on Friday. The company provided earnings per share (EPS) guidance of $1.00-1.50 for the period, compared to the consensus estimate of $1.57. TriNet Group also updated its FY 2024 guidance to 5.250-6.800 EPS.

TriNet Group Stock Down 16.6 %

Shares of TNET opened at $105.72 on Monday. The stock has a 50 day moving average price of $127.99 and a 200 day moving average price of $119.38. TriNet Group has a one year low of $79.00 and a one year 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 has a market capitalization of $5.35 billion, a price-to-earnings ratio of 17.33 and a beta of 1.09.

TriNet Group (NYSE:TNET) last posted its quarterly earnings results on Thursday, February 15th. The business services provider reported $1.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.95 by $0.46. TriNet Group had a net margin of 6.78% and a return on equity of 106.58%. The firm had revenue of $326.00 million for the quarter, compared to analyst estimates of $300.36 million. Equities research analysts forecast that TriNet Group will post 5.79 earnings per share for the current fiscal year.

TriNet Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, April 22nd. Stockholders of record on Monday, April 1st were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend 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%.

Wall Street Analysts Forecast Growth

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

Insider Activity at TriNet Group

In related news, SVP Alexander G. Warren sold 2,385 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $123.07, for a total transaction of $293,521.95. Following the transaction, the senior vice president now owns 18,365 shares in the company, valued at approximately $2,260,180.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, EVP Samantha Wellington sold 14,271 shares of the firm’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 transaction, the executive vice president now owns 48,562 shares of the company’s stock, valued at $6,064,422.56. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Alexander G. Warren sold 2,385 shares of the business’s stock in a transaction dated Tuesday, February 20th. The shares were 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 owns 18,365 shares in the company, 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 over the last ninety days. Insiders own 37.10% of the company’s stock.

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.