TriNet Group (NYSE:TNET) Releases Q2 Earnings Guidance

TriNet Group (NYSE:TNET) issued an update on its second quarter earnings guidance on Friday morning. The company provided earnings per share (EPS) guidance of $1.00-1.50 for the period, compared to the consensus estimate of $1.57. TriNet Group also updated its FY 2024 guidance to 5.250-6.800 EPS.

TriNet Group Price Performance

Shares of NYSE TNET traded down $21.06 during trading hours on Friday, hitting $105.72. 774,248 shares of the stock were exchanged, compared to its average volume of 177,558. The company has a debt-to-equity ratio of 12.62, a quick ratio of 1.05 and a current ratio of 1.05. The company has a market cap of $5.35 billion, a PE ratio of 17.33 and a beta of 1.09. The company’s fifty day simple moving average is $127.99 and its two-hundred day simple moving average is $119.38. TriNet Group has a 1-year low of $79.00 and a 1-year high of $134.67.

TriNet Group (NYSE:TNET) last issued its 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 firm had revenue of $326.00 million for the quarter, compared to analyst estimates of $300.36 million. On average, sell-side analysts predict that TriNet Group will post 5.79 EPS for the current year.

TriNet Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, April 22nd. Investors of record on Monday, April 1st were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.95%. The ex-dividend date was Thursday, March 28th. TriNet Group’s dividend payout ratio is presently 16.39%.

Analyst Ratings Changes

TNET has been the subject of a number of research reports. 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 report on Friday. Stifel Nicolaus raised their price target on shares of TriNet Group from $117.00 to $121.00 and gave the stock a buy rating in a report on Friday, February 16th. TD Cowen raised their price target 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. Finally, StockNews.com upgraded shares of TriNet Group from a hold rating to a buy rating in a report on Monday, February 5th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, TriNet Group presently has an average rating of Moderate Buy and a consensus price target of $117.50.

Insider Activity

In related news, CFO Kelly L. Tuminelli sold 4,396 shares of the business’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $122.67, for a total transaction of $539,257.32. Following the transaction, the chief financial officer now directly owns 65,999 shares in the company, valued at $8,096,097.33. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other TriNet Group news, Director Wayne B. Lowell sold 10,000 shares of TriNet Group stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $122.22, for a total value of $1,222,200.00. Following the sale, the director now owns 84,766 shares of the company’s stock, valued at $10,360,100.52. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Kelly L. Tuminelli sold 4,396 shares of TriNet Group stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $122.67, for a total transaction of $539,257.32. Following the completion of the sale, the chief financial officer now directly owns 65,999 shares in the company, valued at approximately $8,096,097.33. The disclosure for this sale can be found here. Insiders sold 31,052 shares of company stock worth $3,837,142 over the last three months. 37.10% of the stock is currently owned by insiders.

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.