TriNet Group (NYSE:TNET) Releases FY24 Earnings Guidance

TriNet Group (NYSE:TNET) issued an update on its FY24 earnings guidance on Friday morning. The company provided earnings per share (EPS) guidance of $5.25-6.80 for the period, compared to the consensus estimate of $6.78. TriNet Group also updated its FY 2024 guidance to 5.250-6.800 EPS.

TriNet Group Trading Down 16.6 %

Shares of NYSE:TNET traded down $21.06 on Friday, hitting $105.72. 774,248 shares of the company’s stock were exchanged, compared to its average volume of 177,558. TriNet Group has a 12 month low of $79.00 and a 12 month high of $134.67. The stock has a market capitalization of $5.35 billion, a price-to-earnings ratio of 17.33 and a beta of 1.09. The business’s 50 day simple moving average is $127.99 and its two-hundred day simple moving average is $119.38. The company has a debt-to-equity ratio of 12.62, a current ratio of 1.05 and a quick ratio of 1.05.

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

TriNet Group Dividend Announcement

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

Analyst Ratings Changes

Several brokerages recently weighed in on TNET. StockNews.com upgraded TriNet Group from a hold rating to a buy rating in a research note on Monday, February 5th. Stifel Nicolaus boosted their target price on TriNet Group from $117.00 to $121.00 and gave the stock a buy rating in a research note on Friday, February 16th. TD Cowen boosted their target price on TriNet Group from $129.00 to $140.00 and gave the stock an outperform rating in a research note on Monday, March 4th. Finally, Needham & Company LLC decreased 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. One analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus target price of $117.50.

Insider Buying and Selling

In related news, Director Wayne B. Lowell sold 10,000 shares of the firm’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $122.22, for a total transaction of $1,222,200.00. Following the completion of the transaction, the director now owns 84,766 shares of the company’s stock, valued at $10,360,100.52. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other TriNet Group news, SVP Alexander G. Warren sold 2,385 shares of TriNet Group stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $123.07, for a total value of $293,521.95. Following the completion of the transaction, the senior vice president now owns 18,365 shares of the company’s stock, valued at $2,260,180.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Wayne B. Lowell sold 10,000 shares of TriNet Group stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $122.22, for a total transaction of $1,222,200.00. Following the completion of the transaction, the director now directly owns 84,766 shares of the company’s stock, valued at approximately $10,360,100.52. The disclosure for this sale can be found here. Insiders sold a total of 31,052 shares of company stock valued at $3,837,142 over the last 90 days. 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.