TrueBlue (NYSE:TBI) Posts Earnings Results, Misses Estimates By $0.30 EPS

TrueBlue (NYSE:TBI) posted its quarterly earnings results on Monday. The business services provider reported ($0.35) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.30), Briefing.com reports. TrueBlue had a positive return on equity of 3.02% and a negative net margin of 0.63%. The firm had revenue of $396.00 million during the quarter, compared to the consensus estimate of $414.49 million. During the same quarter in the previous year, the company earned $0.17 earnings per share. The business’s revenue for the quarter was down 16.7% compared to the same quarter last year.

TrueBlue Trading Down 24.4 %

Shares of TrueBlue stock opened at $8.10 on Wednesday. TrueBlue has a 12 month low of $7.67 and a 12 month high of $16.14. The firm has a market cap of $247.62 million, a PE ratio of -21.89, a PEG ratio of 13.71 and a beta of 1.51. The stock has a 50 day moving average of $10.70 and a 200 day moving average of $11.47.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on TBI. Robert W. Baird cut their price target on TrueBlue from $14.00 to $13.00 and set an “outperform” rating for the company in a research note on Tuesday, May 7th. BMO Capital Markets restated an “outperform” rating and issued a $13.00 price target on shares of TrueBlue in a research note on Monday, June 17th. Finally, StockNews.com lowered shares of TrueBlue from a “hold” rating to a “sell” rating in a report on Tuesday.

About TrueBlue

TrueBlue, Inc, together with its subsidiaries, provides specialized workforce solutions in the United States, Canada, the United Kingdom, Australia, and Puerto Rico. It operates through three segments: PeopleReady, PeopleManagement, and PeopleScout. The company PeopleReady segment provides general, industrial, and skilled trade contingent staffing services for construction, transportation, manufacturing, retail, hospitality, and renewable energy industries.