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

TriNet Group (NYSE:TNET) updated its FY 2024 earnings guidance on Friday. The company provided earnings per share guidance of 5.250-6.800 for the period, compared to the consensus earnings per share estimate of 6.650. 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.

Analysts Set New Price Targets

Several research firms have recently issued reports on TNET. TD Cowen boosted their target price on TriNet Group from $129.00 to $140.00 and gave the company an outperform rating in a research note on Monday, March 4th. Needham & Company LLC reissued a buy rating and set a $150.00 target price on shares of TriNet Group in a research note on Friday, March 1st. Stifel Nicolaus upped their price target on TriNet Group from $117.00 to $121.00 and gave the stock a buy rating in a research note on Friday, February 16th. Finally, StockNews.com raised TriNet Group from a hold rating to a buy rating in a research note on Monday, February 5th. One analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus price target of $119.17.

TriNet Group Trading Down 5.3 %

TriNet Group stock opened at $120.02 on Friday. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 12.62. The business’s fifty day simple moving average is $128.43 and its two-hundred day simple moving average is $119.48. TriNet Group has a 12 month low of $79.00 and a 12 month high of $134.67. The company has a market capitalization of $6.07 billion, a price-to-earnings ratio of 19.53 and a beta of 1.09.

TriNet Group (NYSE:TNET) last announced its quarterly earnings results on Thursday, February 15th. The business services provider reported $1.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.95 by $0.46. The firm had revenue of $326.00 million for the quarter, compared to the consensus estimate of $300.36 million. TriNet Group had a return on equity of 87.97% and a net margin of 7.62%. As a group, equities analysts predict that TriNet Group will post 5.79 earnings per share for the current fiscal year.

TriNet Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 22nd. Stockholders of record on Monday, April 1st were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.83%. The ex-dividend date of this dividend was Thursday, March 28th. TriNet Group’s payout ratio is currently 15.41%.

Insider Buying and Selling at TriNet Group

In other TriNet Group news, EVP Samantha Wellington sold 14,271 shares of the stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $124.88, for a total value of $1,782,162.48. Following the transaction, the executive vice president now owns 48,562 shares of the company’s stock, valued at $6,064,422.56. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, SVP Alexander G. Warren sold 2,385 shares of the stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $123.07, for a total transaction of $293,521.95. Following the completion of the sale, the senior vice president now owns 18,365 shares in the company, valued at $2,260,180.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Samantha Wellington sold 14,271 shares of the stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $124.88, for a total value of $1,782,162.48. Following the sale, the executive vice president now owns 48,562 shares of the company’s stock, valued at approximately $6,064,422.56. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 31,052 shares of company stock valued at $3,837,142. 37.10% of the stock is 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.