TriNet Group (NYSE:TNET) Releases FY 2024 Earnings Guidance

TriNet Group (NYSE:TNET) updated its FY 2024 earnings guidance on Friday. The company provided EPS guidance of 5.250-6.800 for the period, compared to the consensus EPS estimate of 5.940. 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.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on TNET shares. Needham & Company LLC dropped their target price on shares of TriNet Group from $150.00 to $140.00 and set a buy rating on the stock in a report on Friday, April 26th. StockNews.com lowered shares of TriNet Group from a buy rating to a hold rating in a report on Monday, April 29th. Finally, TD Cowen cut their price target on TriNet Group from $132.00 to $118.00 and set a buy rating on the stock in a report on Monday, June 24th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of Hold and a consensus price target of $119.20.

TriNet Group Stock Performance

Shares of NYSE TNET traded up $2.14 during midday trading on Friday, reaching $110.99. 594,045 shares of the stock were exchanged, compared to its average volume of 371,717. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 6.88. The firm has a 50-day simple moving average of $104.06 and a two-hundred day simple moving average of $114.53. TriNet Group has a twelve month low of $96.76 and a twelve month high of $134.67. The firm has a market cap of $5.61 billion, a price-to-earnings ratio of 18.20 and a beta of 1.19.

TriNet Group (NYSE:TNET) last released its quarterly earnings results on Friday, July 26th. The business services provider reported $1.27 EPS for the quarter, beating the consensus estimate of $0.98 by $0.29. The company had revenue of $310.00 million for the quarter, compared to analyst estimates of $301.76 million. TriNet Group had a net margin of 6.78% and a return on equity of 124.38%. As a group, analysts anticipate that TriNet Group will post 4.82 EPS for the current fiscal year.

TriNet Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, July 22nd. Shareholders of record on Monday, July 1st were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, July 1st. This represents a $1.00 dividend on an annualized basis and a yield of 0.90%. TriNet Group’s dividend payout ratio is currently 16.39%.

Insider Activity

In other TriNet Group news, Director Paul Edward Chamberlain sold 375 shares of the stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $101.02, for a total transaction of $37,882.50. Following the completion of the transaction, the director now owns 36,341 shares of the company’s stock, valued at $3,671,167.82. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other TriNet Group news, Director Paul Edward Chamberlain sold 375 shares of the stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $101.02, for a total value of $37,882.50. Following the sale, the director now owns 36,341 shares of the company’s stock, valued at approximately $3,671,167.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Alexander G. Warren sold 1,867 shares of the stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $103.74, for a total value of $193,682.58. Following the completion of the transaction, the senior vice president now owns 32,661 shares in the company, valued at approximately $3,388,252.14. The disclosure for this sale can be found here. 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.