TriNet Group (NYSE:TNET) Issues Q3 2024 Earnings Guidance

TriNet Group (NYSE:TNET) updated its third quarter 2024 earnings guidance on Friday. The company provided EPS guidance of 1.000-1.500 for the period, compared to the consensus EPS estimate of 1.370. The company issued revenue guidance of $1.2 billion-$1.3 billion, compared to the consensus revenue estimate of $1.2 billion. TriNet Group also updated its FY 2024 guidance to 5.250-6.800 EPS.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Needham & Company LLC cut their price objective on shares of TriNet Group from $150.00 to $140.00 and set a buy rating for the company in a report on Friday, April 26th. StockNews.com downgraded shares of TriNet Group from a buy rating to a hold rating in a report on Monday, April 29th. Finally, TD Cowen cut their price target on shares of TriNet Group from $132.00 to $118.00 and set a buy rating for the company in a report on Monday, June 24th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, TriNet Group presently has an average rating of Hold and an average target price of $113.83.

TriNet Group Stock Up 2.0 %

Shares of TriNet Group stock traded up $2.14 during trading on Friday, hitting $110.99. 594,045 shares of the stock were exchanged, compared to its average volume of 371,717. The stock has a market cap of $5.61 billion, a price-to-earnings ratio of 18.20 and a beta of 1.19. The firm’s 50-day moving average price is $104.06 and its 200 day moving average price is $114.56. TriNet Group has a 12-month low of $96.76 and a 12-month high of $134.67. The company has a debt-to-equity ratio of 6.88, a current ratio of 1.06 and a quick ratio of 1.06.

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

TriNet Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, July 22nd. Stockholders of record on Monday, July 1st were issued a $0.25 dividend. The ex-dividend date was Monday, July 1st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.90%. TriNet Group’s payout ratio is 16.39%.

Insider Buying and Selling at TriNet Group

In other TriNet Group news, Director Paul Edward Chamberlain sold 375 shares of the business’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $101.02, for a total value of $37,882.50. Following the transaction, the director now directly owns 36,341 shares of the company’s stock, valued at approximately $3,671,167.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other TriNet Group news, SVP Alexander G. Warren sold 1,867 shares of the business’s stock in a transaction on Monday, May 20th. The shares were sold at an average price of $103.74, for a total transaction of $193,682.58. Following the sale, the senior vice president now directly owns 32,661 shares in the company, valued at approximately $3,388,252.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Paul Edward Chamberlain sold 375 shares of the business’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $101.02, for a total transaction of $37,882.50. Following the sale, the director now owns 36,341 shares in the company, valued at $3,671,167.82. The disclosure for this sale can be found here. 37.10% of the stock is currently 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.