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

TriNet Group (NYSE:TNET) issued an update on its FY 2024 earnings guidance on Friday morning. The company provided earnings per share (EPS) guidance of 5.250-6.800 for the period, compared to the consensus estimate of 5.940. 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 Price Performance

NYSE:TNET opened at $108.78 on Friday. TriNet Group has a 52-week low of $95.24 and a 52-week high of $134.67. The stock has a fifty day moving average of $103.91 and a 200 day moving average of $114.62. The company has a debt-to-equity ratio of 6.88, a quick ratio of 1.06 and a current ratio of 1.06. The firm has a market capitalization of $5.50 billion, a price-to-earnings ratio of 17.83 and a beta of 1.19.

TriNet Group (NYSE:TNET) last released its quarterly earnings results on Friday, April 26th. The business services provider reported $1.86 earnings per share for the quarter, missing the consensus estimate of $2.22 by ($0.36). TriNet Group had a net margin of 6.78% and a return on equity of 124.38%. The business had revenue of $357.00 million during the quarter, compared to analysts’ expectations of $380.41 million. On average, research analysts expect that TriNet Group will post 4.82 EPS for the current fiscal year.

TriNet Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, July 22nd. Investors of record on Monday, July 1st were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.92%. The ex-dividend date was Monday, July 1st. TriNet Group’s dividend payout ratio is currently 16.39%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on TNET shares. Needham & Company LLC dropped 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 lowered TriNet Group from a buy rating to a hold rating in a research note on Monday, April 29th. Finally, TD Cowen decreased their price target on shares of TriNet Group from $132.00 to $118.00 and set a buy rating on the stock in a research note on Monday, June 24th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of Hold and a consensus price target of $113.83.

Insider Buying and Selling

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

About TriNet Group

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.