Zacks: Brokerages Anticipate TriNet Group, Inc. (TNET) Will Post Earnings of $0.25 Per Share

Wall Street analysts forecast that TriNet Group, Inc. (NYSE:TNET) will announce earnings of $0.25 per share for the current quarter, according to Zacks. Four analysts have issued estimates for TriNet Group’s earnings. The highest EPS estimate is $0.26 and the lowest is $0.25. TriNet Group reported earnings of $0.29 per share during the same quarter last year, which indicates a negative year-over-year growth rate of 13.8%. The firm is scheduled to report its next quarterly earnings results on Tuesday, November 7th.

On average, analysts expect that TriNet Group will report full year earnings of $1.49 per share for the current year, with EPS estimates ranging from $1.45 to $1.51. For the next financial year, analysts expect that the business will post earnings of $1.61 per share, with EPS estimates ranging from $1.52 to $1.70. Zacks Investment Research’s EPS calculations are a mean average based on a survey of research firms that follow TriNet Group.

TriNet Group (NYSE:TNET) last announced its earnings results on Monday, July 31st. The business services provider reported $0.45 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.18. The business had revenue of $201.01 million during the quarter, compared to analyst estimates of $168.27 million. TriNet Group had a net margin of 3.33% and a return on equity of 201.15%. The company’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.27 EPS.

A number of research analysts recently issued reports on TNET shares. BidaskClub upgraded shares of TriNet Group from a “hold” rating to a “buy” rating in a research report on Thursday. Stifel Nicolaus reaffirmed a “buy” rating and issued a $44.00 price objective (up previously from $37.00) on shares of TriNet Group in a report on Tuesday, August 1st. Zacks Investment Research cut shares of TriNet Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, September 21st. Morgan Stanley cut shares of TriNet Group from an “equal weight” rating to an “underweight” rating and lifted their price objective for the company from $27.00 to $31.00 in a report on Tuesday, August 22nd. Finally, J P Morgan Chase & Co cut shares of TriNet Group from a “neutral” rating to an “underweight” rating and lifted their price objective for the company from $33.00 to $36.00 in a report on Thursday, August 17th. Three research analysts have rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $37.40.

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In other news, SVP Brady Mickelsen sold 4,744 shares of the business’s stock in a transaction dated Monday, August 21st. The shares were sold at an average price of $35.73, for a total transaction of $169,503.12. Following the completion of the sale, the senior vice president now owns 38,842 shares of the company’s stock, valued at $1,387,824.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Edward Griese sold 3,494 shares of the business’s stock in a transaction dated Thursday, August 17th. The stock was sold at an average price of $35.45, for a total transaction of $123,862.30. Following the sale, the vice president now directly owns 8,504 shares of the company’s stock, valued at approximately $301,466.80. The disclosure for this sale can be found here. Insiders sold 392,979 shares of company stock valued at $14,272,889 in the last ninety days. 42.40% of the stock is owned by corporate insiders.

Several hedge funds have recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio increased its stake in shares of TriNet Group by 102.9% during the second quarter. Public Employees Retirement System of Ohio now owns 23,978 shares of the business services provider’s stock worth $785,000 after purchasing an additional 12,159 shares in the last quarter. Mitra Capital LLC purchased a new stake in shares of TriNet Group during the second quarter worth about $1,355,000. State Street Corp increased its stake in shares of TriNet Group by 5.3% during the second quarter. State Street Corp now owns 832,811 shares of the business services provider’s stock worth $27,265,000 after purchasing an additional 41,959 shares in the last quarter. Gotham Asset Management LLC purchased a new stake in shares of TriNet Group during the second quarter worth about $1,026,000. Finally, Cornerstone Capital Management Holdings LLC. purchased a new stake in shares of TriNet Group during the second quarter worth about $2,418,000. 54.58% of the stock is owned by institutional investors and hedge funds.

Shares of TriNet Group (NYSE TNET) traded down 1.72% during midday trading on Thursday, reaching $34.33. 362,071 shares of the company’s stock were exchanged. TriNet Group has a one year low of $17.78 and a one year high of $41.58. The stock’s 50-day moving average is $34.77 and its 200 day moving average is $32.59. The firm has a market cap of $2.38 billion, a PE ratio of 23.04 and a beta of 2.89.

TriNet Group Company Profile

TriNet Group, Inc is a provider of human resources (HR) solutions for small to medium-sized businesses (SMBs). The Company’s HR solutions include services, such as multi-state payroll processing and tax administration, employee benefits programs, including health insurance and retirement plans, workers’ compensation insurance and claims management, employment and benefit law compliance, and other services.

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