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

TriNet Group (NYSE:TNET) updated its FY 2024 earnings guidance on Friday. The company provided earnings per share guidance of 5.250-6.800 for the period, compared to the consensus earnings per share estimate of 6.650. 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.

TriNet Group Trading Down 5.3 %

Shares of NYSE TNET opened at $120.02 on Friday. TriNet Group has a 12-month low of $79.00 and a 12-month high of $134.67. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 12.62. The company has a market cap of $6.07 billion, a price-to-earnings ratio of 19.53 and a beta of 1.09. The stock’s 50 day simple moving average is $128.43 and its 200 day simple moving average is $119.48.

TriNet Group (NYSE:TNET) last issued its earnings results on Thursday, February 15th. The business services provider reported $1.41 EPS for the quarter, topping the consensus estimate of $0.95 by $0.46. The business had revenue of $326.00 million during the quarter, compared to analysts’ expectations of $300.36 million. TriNet Group had a return on equity of 87.97% and a net margin of 7.62%. Equities research analysts expect that TriNet Group will post 5.79 EPS for the current year.

TriNet Group Dividend Announcement

The company also recently declared 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. The ex-dividend date was Thursday, March 28th. This represents a $1.00 annualized dividend and a yield of 0.83%. TriNet Group’s dividend payout ratio is 15.41%.

Analyst Ratings Changes

Several brokerages have commented on TNET. StockNews.com upgraded shares of TriNet Group from a hold rating to a buy rating in a research report on Monday, February 5th. Needham & Company LLC reaffirmed a buy rating and issued a $150.00 target price on shares of TriNet Group in a research note on Friday, March 1st. TD Cowen increased their price objective on shares of TriNet Group from $129.00 to $140.00 and gave the stock an outperform rating in a research note on Monday, March 4th. Finally, Stifel Nicolaus increased their price objective on shares of TriNet Group from $117.00 to $121.00 and gave the stock a buy rating in a research note on Friday, February 16th. One analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus target price of $119.17.

Insider Activity at TriNet Group

In related news, Director Wayne B. Lowell sold 10,000 shares of the company’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 sale, the director now owns 84,766 shares of the company’s stock, valued at $10,360,100.52. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other TriNet Group news, EVP Samantha Wellington sold 14,271 shares of the stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $124.88, for a total transaction of $1,782,162.48. Following the transaction, the executive vice president now directly owns 48,562 shares in the company, valued at approximately $6,064,422.56. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Wayne B. Lowell sold 10,000 shares of the firm’s stock in a transaction dated 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 sale, the director now owns 84,766 shares in the company, valued at $10,360,100.52. The disclosure for this sale can be found here. Insiders have sold a total of 31,052 shares of company stock valued at $3,837,142 over the last 90 days. 37.10% of the stock is owned by corporate 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.