TriNet Group (NYSE:TNET) Releases Q2 2024 Earnings Guidance

TriNet Group (NYSE:TNET) issued an update on its second quarter 2024 earnings guidance on Friday morning. The company provided earnings per share (EPS) guidance of 1.000-1.500 for the period, compared to the consensus estimate of 1.570. The company issued revenue guidance of $1.2 billion-$1.2 billion, compared to the consensus revenue estimate of $1.2 billion. TriNet Group also updated its FY 2024 guidance to 5.250-6.800 EPS.

TriNet Group Trading Down 5.3 %

Shares of TNET stock opened at $120.02 on Friday. The firm has a 50 day moving average price of $128.43 and a two-hundred day moving average price of $119.48. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 12.62. The company has a market capitalization of $6.07 billion, a PE ratio of 19.53 and a beta of 1.09. TriNet Group has a 12-month low of $79.00 and a 12-month high of $134.67.

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

TriNet Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 22nd. Shareholders of record on Monday, April 1st were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $1.00 dividend on an annualized basis and a yield of 0.83%. TriNet Group’s dividend payout ratio (DPR) is currently 15.41%.

Analysts Set New Price Targets

TNET has been the topic of a number of analyst reports. StockNews.com upgraded shares of TriNet Group from a hold rating to a buy rating in a report on Monday, February 5th. Needham & Company LLC reissued a buy rating and set a $150.00 target price on shares of TriNet Group in a research report on Friday, March 1st. Stifel Nicolaus increased their target price on shares of TriNet Group from $117.00 to $121.00 and gave the company a buy rating in a research report on Friday, February 16th. Finally, TD Cowen raised their price objective on shares of TriNet Group from $129.00 to $140.00 and gave the stock an outperform rating in a report on Monday, March 4th. 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. Based on data from MarketBeat, TriNet Group presently has a consensus rating of Moderate Buy and an average target price of $119.17.

Insider Activity

In other news, EVP Samantha Wellington sold 14,271 shares of the firm’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $124.88, for a total transaction of $1,782,162.48. Following the sale, the executive vice president now owns 48,562 shares in the company, valued at approximately $6,064,422.56. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, EVP Samantha Wellington sold 14,271 shares of TriNet Group stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $124.88, for a total value of $1,782,162.48. Following the transaction, the executive vice president now owns 48,562 shares in the company, valued at approximately $6,064,422.56. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Alexander G. Warren sold 2,385 shares of the firm’s stock in a transaction 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 completion of the sale, the senior vice president now directly owns 18,365 shares in the company, valued at approximately $2,260,180.55. The disclosure for this sale can be found here. In the last quarter, insiders have sold 31,052 shares of company stock worth $3,837,142. 37.10% of the stock is currently owned by corporate insiders.

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.