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

TriNet Group (NYSE:TNET) issued an update on its FY 2024 earnings guidance on Friday morning. The company provided earnings per share (EPS) guidance of 5.250-6.800 for the period, compared to the consensus 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.

Analyst Ratings Changes

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

TriNet Group Stock Up 2.0 %

Shares of NYSE:TNET traded up $2.14 during trading hours on Friday, reaching $110.99. The stock had a trading volume of 594,045 shares, compared to its average volume of 371,717. TriNet Group has a 1 year low of $96.76 and a 1 year high of $134.67. The firm’s 50 day moving average is $104.06 and its 200-day moving average is $114.56. The company has a debt-to-equity ratio of 6.88, a quick ratio of 1.06 and a current ratio of 1.06. The stock has a market capitalization of $5.61 billion, a price-to-earnings ratio of 18.20 and a beta of 1.19.

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

TriNet Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, July 22nd. Investors 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%.

Insider Activity at TriNet Group

In related news, SVP Alexander G. Warren sold 1,867 shares of the stock in a transaction on Monday, May 20th. The shares were sold at an average price of $103.74, for a total value of $193,682.58. Following 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Paul Edward Chamberlain sold 375 shares of the stock in a transaction on 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 sale, the director now owns 36,341 shares in the company, valued at approximately $3,671,167.82. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Alexander G. Warren sold 1,867 shares of the stock in a transaction 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 sale, the senior vice president now 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. 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.