TrueBlue (NYSE:TBI) Announces Quarterly Earnings Results

TrueBlue (NYSE:TBI) released its earnings results on Wednesday. The business services provider reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.14, FiscalAI reports. The company had revenue of $520.74 million during the quarter, compared to the consensus estimate of $468.06 million. TrueBlue had a negative return on equity of 6.26% and a negative net margin of 3.35%.

TrueBlue Stock Up 2.1%

Shares of TrueBlue stock traded up $0.20 during trading on Wednesday, hitting $9.79. 244,257 shares of the stock were exchanged, compared to its average volume of 305,159. The stock has a market cap of $298.01 million, a price-to-earnings ratio of -5.21, a price-to-earnings-growth ratio of 11.75 and a beta of 1.74. The firm’s 50-day moving average price is $9.37 and its 200 day moving average price is $6.82. TrueBlue has a 12-month low of $3.18 and a 12-month high of $11.03. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.28 and a quick ratio of 2.28.

Wall Street Analysts Forecast Growth

TBI has been the topic of several recent research reports. Wall Street Zen raised shares of TrueBlue from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Robert W. Baird set a $9.50 price target on shares of TrueBlue in a research report on Wednesday, August 5th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of TrueBlue in a research note on Tuesday, September 29th. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $7.75.

TrueBlue Company Profile

TrueBlue, Inc (NYSE:TBI) is a workforce solutions company that connects businesses with employees and provides staffing, recruiting and workforce management services. Its offerings support employers seeking temporary, contingent and permanent workers across a range of industries, including manufacturing, logistics, retail, hospitality, construction and other commercial sectors.

The company operates through several specialized brands. PeopleReady provides industrial and general labor staffing, while PeopleManagement offers on-site workforce management and contingent labor solutions.