TriNet Group (NYSE:TNET) Issues FY24 Earnings Guidance

TriNet Group (NYSE:TNET) updated its FY24 earnings guidance on Friday. The company provided earnings per share guidance of $5.25-6.80 for the period, compared to the consensus earnings per share estimate of $6.03. TriNet Group also updated its FY 2024 guidance to 5.250-6.800 EPS.

TriNet Group Price Performance

NYSE:TNET traded up $2.14 during trading hours on Friday, hitting $110.99. 594,045 shares of the stock were exchanged, compared to its average volume of 371,717. The firm’s fifty day moving average price is $104.06 and its 200 day moving average price is $114.56. TriNet Group has a 52-week low of $96.76 and a 52-week high of $134.67. The company has a market cap of $5.61 billion, a P/E ratio of 18.20 and a beta of 1.19. 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 issued its quarterly earnings results on Friday, July 26th. The business services provider reported $1.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.98 by $0.29. TriNet Group had a return on equity of 124.38% and a net margin of 6.78%. The firm had revenue of $310.00 million for the quarter, compared to analyst estimates of $301.76 million. As a group, equities research analysts anticipate that TriNet Group will post 4.82 EPS for the current fiscal year.

TriNet Group Announces Dividend

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

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on TNET shares. StockNews.com lowered shares of TriNet Group from a buy rating to a hold rating in a research report on Monday, April 29th. Needham & Company LLC dropped their price target on TriNet Group from $150.00 to $140.00 and set a buy rating for the company in a research report on Friday, April 26th. Finally, TD Cowen cut their price target on TriNet Group from $132.00 to $118.00 and set a buy rating for the company in a report on Monday, June 24th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of Hold and a consensus price target of $113.83.

Insider Activity

In related news, Director Paul Edward Chamberlain sold 375 shares of the business’s stock in a transaction dated 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 in the company, valued at approximately $3,671,167.82. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, SVP Alexander G. Warren sold 1,867 shares of the 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 approximately $3,388,252.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Paul Edward Chamberlain sold 375 shares of the firm’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $101.02, for a total value of $37,882.50. Following the transaction, the director now owns 36,341 shares of the company’s stock, valued at $3,671,167.82. The disclosure for this sale can be found here. Corporate 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.