TriNet Group (NYSE:TNET) Updates Q2 2024 Earnings Guidance

TriNet Group (NYSE:TNET) updated its second quarter 2024 earnings guidance on Friday. The company provided EPS guidance of 1.000-1.500 for the period, compared to the consensus EPS estimate of 1.570. The company issued revenue guidance of $1.2 billion-$1.2 billion, compared to the consensus revenue estimate of $1.2 billion. TriNet Group also updated its FY 2024 guidance to 5.250-6.800 EPS.

TriNet Group Trading Down 16.8 %

TNET opened at $105.48 on Friday. The firm’s fifty day simple moving average is $127.99 and its 200 day simple moving average is $119.38. The stock has a market capitalization of $5.33 billion, a P/E ratio of 16.25 and a beta of 1.09. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 12.62. TriNet Group has a 12 month low of $79.00 and a 12 month high of $134.67.

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

TriNet Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, April 22nd. Shareholders of record on Monday, April 1st were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.95%. The ex-dividend date of this dividend was Thursday, March 28th. TriNet Group’s dividend payout ratio (DPR) is currently 15.41%.

Analyst Ratings Changes

A number of analysts have recently commented on the stock. StockNews.com raised shares of TriNet Group from a hold rating to a buy rating in a research report on Monday, February 5th. Needham & Company LLC reduced their price objective on shares of TriNet Group from $150.00 to $140.00 and set a buy rating for the company in a research note on Friday. TD Cowen raised their price objective on TriNet Group from $129.00 to $140.00 and gave the company an outperform rating in a report on Monday, March 4th. Finally, Stifel Nicolaus upped their target price on TriNet Group from $117.00 to $121.00 and gave the stock a buy rating in a report on Friday, February 16th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of Moderate Buy and a consensus target price of $117.50.

Insider Transactions at TriNet Group

In related news, SVP Alexander G. Warren sold 2,385 shares of TriNet Group 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 transaction, the senior vice president now owns 18,365 shares in the company, valued at $2,260,180.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other TriNet Group news, CFO Kelly L. Tuminelli sold 4,396 shares of the company’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $122.67, for a total value of $539,257.32. Following the transaction, the chief financial officer now directly owns 65,999 shares in the company, valued at $8,096,097.33. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Alexander G. Warren sold 2,385 shares of the firm’s 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 sale, the senior vice president now owns 18,365 shares of the company’s stock, valued at approximately $2,260,180.55. The disclosure for this sale can be found here. Insiders have sold 31,052 shares of company stock worth $3,837,142 in the last ninety days. Insiders own 37.10% of the company’s stock.

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.