TriNet Group (NYSE:TNET) Releases FY24 Earnings Guidance

TriNet Group (NYSE:TNET) updated its FY24 earnings guidance on Friday. The company provided earnings per share (EPS) guidance of $5.25-6.80 for the period, compared to the consensus estimate of $6.03. TriNet Group also updated its FY 2024 guidance to 5.250-6.800 EPS.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. TD Cowen cut their target price on shares of TriNet Group from $132.00 to $118.00 and set a buy rating for the company in a research note on Monday, June 24th. StockNews.com lowered shares of TriNet Group from a buy rating to a hold rating in a research note on Monday, April 29th. Finally, Needham & Company LLC cut their price target on shares of TriNet Group from $150.00 to $140.00 and set a buy rating on the stock in a report on Friday, April 26th. One investment 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.com, the stock presently has a consensus rating of Hold and an average price target of $113.83.

TriNet Group Trading Up 2.0 %

Shares of TNET stock traded up $2.14 during trading hours on Friday, reaching $110.99. 594,045 shares of the stock traded hands, compared to its average volume of 371,717. TriNet Group has a 1-year low of $96.76 and a 1-year high of $134.67. The business has a fifty day moving average price of $104.06 and a 200 day moving average price of $114.56. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 6.88. The firm has a market capitalization of $5.61 billion, a PE ratio of 18.20 and a beta of 1.19.

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

TriNet Group Announces Dividend

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

Insider Transactions at TriNet Group

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