Zacks: Brokerages Expect TriNet Group, Inc. (NYSE:TNET) Will Announce Quarterly Sales of $237.24 Million

Wall Street analysts expect TriNet Group, Inc. (NYSE:TNET) to report sales of $237.24 million for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for TriNet Group’s earnings. The highest sales estimate is $239.26 million and the lowest is $234.10 million. TriNet Group reported sales of $335.00 million in the same quarter last year, which indicates a negative year over year growth rate of 29.2%. The company is expected to issue its next earnings results on Monday, July 26th.

On average, analysts expect that TriNet Group will report full year sales of $1.02 billion for the current year, with estimates ranging from $1.01 billion to $1.03 billion. For the next fiscal year, analysts expect that the firm will post sales of $1.12 billion, with estimates ranging from $1.10 billion to $1.16 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that follow TriNet Group.

TriNet Group (NYSE:TNET) last posted its quarterly earnings data on Sunday, April 25th. The business services provider reported $1.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.30 by $0.36. TriNet Group had a return on equity of 44.94% and a net margin of 6.97%. The firm had revenue of $309.00 million during the quarter, compared to analysts’ expectations of $280.46 million. During the same period in the prior year, the business earned $1.41 EPS. The company’s revenue for the quarter was up 9.2% compared to the same quarter last year.

A number of research firms have recently weighed in on TNET. Credit Suisse Group boosted their target price on TriNet Group from $80.00 to $85.00 and gave the company a “neutral” rating in a research note on Tuesday, April 27th. Zacks Investment Research lowered TriNet Group from a “buy” rating to a “hold” rating in a research note on Friday. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $82.00.

In other TriNet Group news, Director H Raymond Bingham sold 415 shares of the company’s stock in a transaction that occurred on Wednesday, June 2nd. The stock was sold at an average price of $72.76, for a total transaction of $30,195.40. Following the completion of the transaction, the director now owns 2,576 shares of the company’s stock, valued at approximately $187,429.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Burton M. Goldfield sold 11,666 shares of the company’s stock in a transaction that occurred on Thursday, April 22nd. The shares were sold at an average price of $84.20, for a total value of $982,277.20. Following the transaction, the chief executive officer now directly owns 232,026 shares of the company’s stock, valued at approximately $19,536,589.20. The disclosure for this sale can be found here. Insiders have sold a total of 69,621 shares of company stock valued at $5,574,328 in the last ninety days. 39.30% of the stock is currently owned by corporate insiders.

Large investors have recently made changes to their positions in the company. Lazard Asset Management LLC raised its position in shares of TriNet Group by 24.4% in the 1st quarter. Lazard Asset Management LLC now owns 852 shares of the business services provider’s stock worth $66,000 after acquiring an additional 167 shares in the last quarter. Public Employees Retirement System of Ohio raised its position in shares of TriNet Group by 5.3% in the 1st quarter. Public Employees Retirement System of Ohio now owns 2,531 shares of the business services provider’s stock worth $197,000 after acquiring an additional 128 shares in the last quarter. Intrust Bank NA bought a new position in shares of TriNet Group in the 4th quarter worth approximately $202,000. Virtu Financial LLC bought a new position in shares of TriNet Group in the 1st quarter worth approximately $213,000. Finally, CIBC Asset Management Inc bought a new position in shares of TriNet Group in the 4th quarter worth approximately $221,000. 91.41% of the stock is owned by hedge funds and other institutional investors.

Shares of TNET traded up $1.02 during midday trading on Tuesday, reaching $73.32. The stock had a trading volume of 865 shares, compared to its average volume of 249,679. The business has a 50-day moving average price of $78.81. TriNet Group has a 12-month low of $50.67 and a 12-month high of $87.60. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.76. The firm has a market capitalization of $4.83 billion, a P/E ratio of 17.30 and a beta of 1.43.

About TriNet Group

TriNet Group, Inc provides human resources (HR) solutions for small and midsize 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.

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