TriNet Group (NYSE:TNET) Issues Q3 2024 Earnings Guidance

TriNet Group (NYSE:TNET) issued an update on its third 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 1.370. The company issued revenue guidance of $1.2 billion-$1.3 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.

Analysts Set New Price Targets

Several research firms recently weighed in on TNET. Needham & Company LLC reduced their price target on shares of TriNet Group from $150.00 to $140.00 and set a buy rating for the company in a research report on Friday, April 26th. StockNews.com downgraded shares of TriNet Group from a buy rating to a hold rating in a research report on Monday, April 29th. Finally, TD Cowen lowered their price target on shares of TriNet Group from $132.00 to $118.00 and set a buy rating on the stock in a report on Monday, June 24th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of Hold and a consensus price target of $113.83.

TriNet Group Stock Performance

Shares of TNET stock opened at $108.78 on Friday. The firm’s 50 day moving average is $103.91 and its 200 day moving average is $114.62. The stock has a market capitalization of $5.50 billion, a P/E ratio of 17.83 and a beta of 1.19. TriNet Group has a 12 month low of $95.24 and a 12 month high of $134.67. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 6.88.

TriNet Group (NYSE:TNET) last posted its quarterly earnings results on Friday, April 26th. The business services provider reported $1.86 EPS for the quarter, missing analysts’ consensus estimates of $2.22 by ($0.36). TriNet Group had a return on equity of 124.38% and a net margin of 6.78%. The company had revenue of $357.00 million during the quarter, compared to the consensus estimate of $380.41 million. On average, sell-side analysts anticipate that TriNet Group will post 4.82 earnings per share for the current year.

TriNet Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, July 22nd. Shareholders of record on Monday, July 1st were paid a $0.25 dividend. The ex-dividend date was Monday, July 1st. This represents a $1.00 annualized dividend and a yield of 0.92%. TriNet Group’s dividend payout ratio is currently 16.39%.

Insider Activity

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