TrueBlue (NYSE:TBI) Releases Quarterly Earnings Results, Beats Estimates By $0.16 EPS

TrueBlue (NYSE:TBI) issued its quarterly earnings data on Tuesday. The business services provider reported $0.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.16, FiscalAI reports. The firm had revenue of $443.00 million during the quarter, compared to the consensus estimate of $417.84 million. TrueBlue had a negative net margin of 3.25% and a negative return on equity of 7.37%.

TrueBlue Trading Up 3.0%

Shares of NYSE TBI traded up $0.23 during trading on Tuesday, reaching $7.76. The stock had a trading volume of 228,285 shares, compared to its average volume of 317,738. The company has a market cap of $236.09 million, a P/E ratio of -4.36 and a beta of 1.60. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.09 and a current ratio of 2.09. The business’s 50-day moving average price is $7.21 and its 200-day moving average price is $5.50. TrueBlue has a fifty-two week low of $3.18 and a fifty-two week high of $8.90.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Wall Street Zen raised shares of TrueBlue from a “sell” rating to a “hold” rating in a research note on Saturday, June 20th. Weiss Ratings upgraded shares of TrueBlue from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, July 2nd. Finally, Zacks Research raised shares of TrueBlue from a “strong sell” rating to a “hold” rating in a research report on Monday, April 20th. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $5.75.

Institutional Investors Weigh In On TrueBlue

Large investors have recently modified their holdings of the company. XTX Topco Ltd boosted its position in TrueBlue by 11.4% during the 2nd quarter. XTX Topco Ltd now owns 18,106 shares of the business services provider’s stock worth $117,000 after buying an additional 1,858 shares during the period. Hsbc Holdings PLC raised its position in TrueBlue by 6.5% during the 2nd quarter. Hsbc Holdings PLC now owns 43,259 shares of the business services provider’s stock worth $288,000 after purchasing an additional 2,646 shares during the last quarter. Federated Hermes Inc. grew its position in shares of TrueBlue by 21.3% in the 4th quarter. Federated Hermes Inc. now owns 17,685 shares of the business services provider’s stock valued at $80,000 after buying an additional 3,111 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of TrueBlue by 0.5% in the second quarter. Geode Capital Management LLC now owns 692,713 shares of the business services provider’s stock valued at $4,490,000 after buying an additional 3,269 shares during the period. Finally, Walleye Capital LLC raised its position in shares of TrueBlue by 7.6% during the second quarter. Walleye Capital LLC now owns 52,783 shares of the business services provider’s stock worth $342,000 after acquiring an additional 3,718 shares during the last quarter. 97.15% of the stock is owned by hedge funds and other institutional investors.

TrueBlue Company Profile

TrueBlue, Inc is a Tacoma, Washington–based workforce solutions provider specializing in temporary staffing, permanent placement and managed service solutions. Operating through its subsidiaries and brands, TrueBlue connects clients across manufacturing, logistics, retail, construction and public sector markets with skilled professionals for both short-term and long-term engagements. The company’s offerings encompass on-demand blue-collar labor, specialized industrial staffing, recruitment process outsourcing (RPO) and contingent workforce management.

TrueBlue’s primary service lines include PeopleReady, which supplies general labor for construction, hospitality and event services; PeopleManagement, which focuses on technical and industrial professionals; PeopleScout, a global RPO business offering end-to-end talent acquisition and consulting; and Staff Management | SMX, which delivers seasonal staffing for large-scale events, amusement parks and federal workforce contracts.