Zacks: Brokerages Expect TrueBlue, Inc. (NYSE:TBI) to Post $0.48 EPS

Equities analysts expect that TrueBlue, Inc. (NYSE:TBI) will announce earnings per share of $0.48 for the current quarter, Zacks reports. Zero analysts have issued estimates for TrueBlue’s earnings. TrueBlue reported earnings of $0.24 per share in the same quarter last year, which would indicate a positive year over year growth rate of 100%. The firm is expected to announce its next earnings report on Monday, October 25th.

On average, analysts expect that TrueBlue will report full year earnings of $1.53 per share for the current year. For the next year, analysts forecast that the business will report earnings of $1.89 per share. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research analysts that that provide coverage for TrueBlue.

TrueBlue (NYSE:TBI) last announced its quarterly earnings data on Sunday, July 25th. The business services provider reported $0.47 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.39 by $0.08. TrueBlue had a return on equity of 10.15% and a net margin of 2.01%. The company had revenue of $515.96 million for the quarter.

Several brokerages have recently commented on TBI. Sidoti raised TrueBlue from a “neutral” rating to a “buy” rating in a research note on Wednesday, June 9th. Zacks Investment Research lowered TrueBlue from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, June 30th. Finally, TheStreet raised TrueBlue from a “c+” rating to a “b-” rating in a research note on Wednesday, August 25th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, TrueBlue currently has an average rating of “Buy” and an average price target of $25.00.

Shares of NYSE:TBI traded up $0.93 during trading on Wednesday, hitting $28.93. 928 shares of the stock were exchanged, compared to its average volume of 186,292. The company has a fifty day moving average price of $26.70 and a two-hundred day moving average price of $26.09. The company has a market cap of $1.03 billion, a PE ratio of 25.20 and a beta of 1.69. TrueBlue has a 12-month low of $14.99 and a 12-month high of $29.99.

A number of institutional investors and hedge funds have recently modified their holdings of the business. BlackRock Inc. raised its holdings in TrueBlue by 7.4% in the 1st quarter. BlackRock Inc. now owns 5,903,918 shares of the business services provider’s stock valued at $130,005,000 after acquiring an additional 404,396 shares during the last quarter. Vanguard Group Inc. raised its holdings in TrueBlue by 5.7% in the 2nd quarter. Vanguard Group Inc. now owns 4,366,475 shares of the business services provider’s stock valued at $122,742,000 after acquiring an additional 233,643 shares during the last quarter. Pzena Investment Management LLC raised its holdings in TrueBlue by 2.9% in the 2nd quarter. Pzena Investment Management LLC now owns 1,748,669 shares of the business services provider’s stock valued at $49,155,000 after acquiring an additional 48,610 shares during the last quarter. FMR LLC raised its holdings in TrueBlue by 19.0% in the 2nd quarter. FMR LLC now owns 1,428,746 shares of the business services provider’s stock valued at $40,162,000 after acquiring an additional 228,524 shares during the last quarter. Finally, State Street Corp raised its holdings in TrueBlue by 2.6% in the 2nd quarter. State Street Corp now owns 1,188,054 shares of the business services provider’s stock valued at $33,396,000 after acquiring an additional 29,636 shares during the last quarter. Institutional investors own 94.11% of the company’s stock.

About TrueBlue

TrueBlue, Inc engages in the provision of staffing, recruitment process outsourcing and managed service provider solutions. It operates through the following segments: PeopleReady, PeopleManagement and PeopleScout. The PeopleReady segment offers staffing solutions for blue-collar, contingent on-demand and skilled labor to a broad range of industries that include retail, manufacturing, warehousing, logistics, energy, construction, hospitality and others.

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